Children's & Grandchildren's Trust
NEED FINANCIAL ASSISTANCE?
If you are a New Zealand Vietnam Veteran with children or if you are the child or grandchild of a New Zealand Vietnam Veteran and need a helping hand then the EVSA (Neville Wallace Memorial) Children's & Grandchildren's Trust may be able to assist.
Since its inception in 1993 the Trust has provided financial assistance covering the whole range of youth endeavour... from help to attend Outward Bound of funding a saddle for an aspiring jockey; from subsiding the cost of tertiary education to the purchase of musical instruments; from assistance under the Rotary Youth Leadership Exchange programme to the recognition of sporting achievement.
If you would like to find more about the Trust and how to apply for a grant then go to the Trust website at evsayouthtrust.org.nz
To date the trustees have awarded burseries in excess of $307,000.
It is my privilege to present this report on the activities of the Vietnam Veterans (Neville Wallace Memorial) Children's & Grandchildren's Trust for the period 1 January 2021 to 31 December 2021.
During the past year the Trust received $14,210 in donations which was a substantial increase on the year previous ($1,100). As at 31 December 2021 the Trust's equity stood at $825,923 compared with $782,125 at the start of the year. During the year we initiated a change to our Deed to allow the Trustees fees to be a charge against the capital account (previously charged against the income account) as a means of increasing the amount available for distribution in bursary support. As an interim measure and acknowledging the decrease in yield from our investment portfolio (occasioned in part by Covid and very low interest rates) we placed a hold on accepting applications from repeat applicants and determined that overseas based applicants would be afforded a lower priority compared to those from persons resident in New Zealand.
I acknowledge and thank NZ Post for their continuing support by way of their Community Post scheme.
Since its inception the Trust has awarded bursaries in excess of $307k. In 2021 we awarded 26 bursaries with an average value of $530 (vs $663 in 2020). The assistance given continues to be wide and varied encompassing the whole gambit of education, sporting and cultural endeavour. 81% of the bursaries awarded went to first time applicants (79% in 2020); 96% went to applicants resident in New Zealand (86% in 2020); 85% of awards went to the grandchildren of Vietnam veterans (69% in 2020); female recipients were ahead of their male counterparts 58% to 42% while 58% of recipients were aged <20 years of age with the remainder split between those aged between 20-30 (27%) and those aged 31> (15%). Education continues to be our main focus with 55% of grants directed there.
Our website attracts a lot of attention and I thank our webmaster, Wayne Cribb, for his work. It can be accessed at www.evsayouthtrust.org.nz. While the domain name is outdated it is well known within the Vietnam veteran community and we will not be changing it.
There were no changes to the Board over the past year. Can I thank my colleague Board Members; Kate Leys, Louise Mullane, Els Brown Peter Roberts and Keith Miller as well as Anita Killeen, our Honorary Legal Advisor, for their professionalism and support. I thank too Perpetual Guardian (the Trustee) for all their work and their preparedness to engage constructively with the Board.
The Trust is in good shape. We can face the future with confidence.
Ross Miller, MNZM, JP
20 March 2022