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What's in This Newsletter?
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Natalie Bridges, Deputy Chairperson
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Now’s the time for community spirit. Now’s the time for reaching out.
And heart-warmingly, TECT has come to the lockdown in both regards. It was a privilege to sit with the team as lockdown was about to dawn, to work out what our response to this COVID-19 crisis could be.
It was a privilege to be able to decide that TECT would offer a Rapid Response Fund to our not-for-profit sector, which was inevitably going to be hit hard. We have the excellent management of TECT over many years to thank for the ability to do this. The fund is at a state of maturity that allows for some flexibility in extraordinary times. We also have the community to thank, for being willing to direct the TECT funds into the community at large. Never has it been more needed.
The nimbleness of the TECT team, our relationships with other funders in our region such as Acorn Foundation, BayTrust and Tauranga City Council has been the envy on many other regions around New Zealand. The groundwork done pre COVID-19 came into its own over the last few weeks. Continue reading.
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Rapid Response Funding Approved
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Community groups who are experiencing increased demand or shortfall as a result of COVID-19 have received a helping hand. As of today, twenty-one community groups have received a total of $180,000 in funding from the new Rapid Response Fund, established by TECT, Acorn Foundation, BayTrust and Tauranga City Council. Read more.
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We Are All In This Together
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The lockdown has presented many community groups with challenges. How do we keep our people connected and engaged when we can't meet in person? How can we ensure our most vulnerable are fed, sheltered and safe?
Take a look at some of the incredible community groups in our region adapting to meet the needs of our community during this difficult time:
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Tauranga Living Without Violence
The lockdown has seen an increase in new referrals to Tauranga Living Without Violence, an agency whose primary focus is the safety and wellbeing of women and children. Their team have been working remotely to support clients during the lockdown, and we were pleased to help make this happen with funding through the Rapid Response Fund. Read more.
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Tauranga Arts Festival
Tauranga Arts Festival are keeping us connected and entertained with sparkling wit, profound ideas and thoughtful conversations, posting audio files from Escape! 2018 during the lockdown. We're so glad we could support this festival and continue to enjoy it two years later! Check out the lockdown latest here.
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Anxiety New Zealand
Feeling anxious, overwhelmed or stressed? Anxiety NZ offers a free 24/7 Anxiety Helpline (0800 269 4389) providing support and practical anxiety management techniques. We appreciate the work they are doing supporting our people during this difficult time with the help of TECT funding. Read more.
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Tauranga Art Gallery
Tauranga Art Gallery has been busy during the lockdown, working on a range of virtual gallery tours and at-home education activities for our community. We have supported the public art programmes for a number of years and are pleased to see the gallery looking at new ways to inspire children and families to get creative. Check out the activities here, or enjoy a virtual gallery tour here.
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Pirirakau Hauora
For Pirirakau Hauora, a hapū-based Māori health provider, amongst all the changes and precautions being taken in light of COVID-19, one thing holding strong is the whanau connection. Delivering a range of health and wellbeing services to the hapū of Pirirakau and people of Te Puna and surrounding areas, they have taken many measures to ensure their clients are safe and connected. Read more.
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Young Innovator Awards
The Young Innovator Awards, which we have proudly supported over the years, are back, challenging students to get thinking, researching, collaborating and prototyping in the midst of the lockdown, to solve the problems we face during these unprecedented times. A fantastic initiative using digital solutions to keep our region thriving—we can't wait to see what our young people bring to the table! Read more.
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Good Neighbour
The Good Neighbour Food Rescue team have done an extraordinary job keeping the food flowing out to those in need, with 34 tonnes of rescued food redistributed in March, and over 11,000 meals made in the Good Neighbour Kitchen. We're happy our funding towards both operational costs and the kitchen is going a long way to keep our community fed and full. Read more.
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In light of the COVID-19 lockdown and the economic struggles many in our community are facing, TECT Trustees have decided to pay half of the July rebate early.
To ensure the payment can be processed quickly, the fixed amount of $110 will be paid to each eligible beneficiary in mid-May. The variable amount typically paid in addition to the fixed amount will be included in the July rebate payment. The rebate will be paid via your selected payment preference as at the end of March. If no payment preference was selected, the default payment method will be a credit to your power account.
To be eligible for the rebate, beneficiaries must have had an active Trustpower power account in the same name from 1 October 2019 – 31 March 2020 in the Tauranga/Western Bay of Plenty district. To view full eligibility criteria, click here.
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TECT Election Nominations Open Next Week
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Candidate nominations open next Friday 1 May for the TECT Trustee election. To stand for election a candidate must be a Trustpower account holder residing in Tauranga City or Western Bay of Plenty. The nomination paper and candidate handbook will be available to download from our website on Friday 1 May, with instructions available to receive physical copies.
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It is no secret that the financial markets are very volatile at the moment. Global share markets (including NZ) fell sharply as governments were forced to impose strict virus containment measures. However, there was a strong rally into the end of the March quarter as nations implemented relief packages and policies. Approximately 40% of TECT’s asset base is a diversified portfolio which was exposed to the increase in volatility, as was our Trustpower investment.
The entire TECT portfolio had a negative return of 4.6% in the 12 months to March 31 (subject to final valuations). Fortunately, the portfolio has enough cash holdings to get us through a sustained period (without having to sell shares etc. at deflated prices) and as such we are still able to maintain our planned distributions. The trustees continue to maintain a long term view consistent with the Trust's investment strategy, whilst continually monitoring the current volatility, and rebalancing the portfolio when appropriate to ensure that exposures stay within their target ranges. For more information on the diversified portfolio click here.
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Learnings From Other Grant-makers
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Value of Philanthropy in Crisis
While the COVID-19 crisis continues to lay bare problematic systems and layers of social injustice, it also shines a spotlight on the value and courage of philanthropy. Read more.
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Opportunity for Transformative Grant Making
Authors from the Open Society Foundations say that as needs are likely to change from one week to the next as this emergency unfolds, the best thing we can do is provide flexible funding. Read more.
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Charities Battling Double-Edged Sword
Research released by United Way New Zealand shows Kiwi charities are under increasing pressure, managing a surge in demand with fewer resources during the COVID-19 lockdown. Read more.
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Unicef Turns Its Aid to NZ Families
For the first time ever, Unicef New Zealand is focusing humanitarian efforts on Kiwi children and families impacted by COVID-19, partnering with the Salvation Army and Countdown to provide urgent food and hygiene supplies to hundreds across the country. Read more.
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