King's College Foundation Annual Report
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King’s College Foundation Annual Report 2016 Foundation Director Sir Colin Giltrap and his grandson Marco Giltrap (Averill, Year 9) at the College’s annual Grandparents’ Day. Contents President’s Report 4 Our Foundation Board of Management 6 Investment Committee’s Report 8 Our Investment Committee 9 Our Deed 10 Capital Endowment Funds 12 Phil Ryall Bursary 16 Past Scholarship recipients 18 - Randall Kamea - Tim Southee Specific Endowment Funds 20 Staff Support Funds 23 2016 Margaret Myers Fellowship 24 Summary of Financial Statements 26 Membership 29 Our Members 30 PRESIDENT’S REPORT President’s Report I am very pleased to present our In 2016 the Foundation granted $770,000 towards 37th Annual Report to Members of scholarships, spread across 65 students. the King’s College Foundation. In addition, $130,000 was contributed to various other non student scholarship recipients, including the highly-sought- Celebrating a steady 2016 after Margaret Myers Fellowship that enables two teachers a year to travel overseas to learn more about their chosen The College is in a healthy position as the 2017 year subjects. The two recipients for 2016 were Bryan Sapsworth commences, and we can look back on a relatively robust and Ro Bairstow. You can read about their experiences while and steady 2016. The roll is at an all-time high, and future on the Fellowship on pages 24 and 25. enrolment applications are strong. Our Headmaster, Simon Lamb, has settled well into his role, gained much I would like to acknowledge Andy Morris, who chairs our respect throughout the College and our wider King’s Investment Committee. Andy is well respected in the community, and he is gradually implementing his vision financial sector, and ensures a robust process is in place of new teaching and learning dimensions in our with the Fund managers who manage our investments on College classrooms. our behalf. They regularly attend our meetings to explain their investment strategies, views of the markets and, of The primary role of the Foundation continues to be to assist course, the returns they deliver to our Endowment Fund. the College financially, with income generated through the Endowment Fund largely focused towards funding student We are fortunate to also have Peter Clarke, James Mitchell scholarships and bursaries. This means–tested funding not and James Ring contribute their investment skills to only helps students attend King’s who otherwise might not this Committee. They are ably assisted and supported by have been able to but, also helps to raise our standard in the the College’s Director of Financial Services, Paul Chapman. academic, cultural and sporting fields. Paul collates the information on a monthly basis and I thank him for his detailed reports. We reported another steady year of growth for the Fund in 2016, albeit not at the heady heights of previous years. In 2016, we welcomed a new member to our Board, Liz The Endowment Fund returned a net 5.4 per cent, Young. Liz replaces Peter Rose, who stepped down mid last which benchmarks well when compared to other similar year after many years of dedicated service to the College. balanced funds that averaged 3.5 per cent. Liz and her husband, Vic, had their son educated recently at King’s and she is a passionate advocate for the College. There is an increasing desire by the College to see our 35m Scholarship and Bursary students acknowledge that it is indeed a privilege to be a recipient. In fact, several of the 20m existing Endowment Funds are the result of significant donations by previous scholarship beneficiaries. There is 15m a future expectation that, over time, these students will acknowledge the generous efforts of the Foundation and 10m give back to King’s, either financially or by way of giving 5m their time to the College. 0m 2012 2013 2014 2015 2016 4 FOUNDATION ANNUAL REPORT 2016 PRESIDENT’S REPORT There is an increasing desire by the College to see our Scholarship and Bursary students acknowledge that it is indeed a privilege to be a recipient. Midway through 2016 Jeanette Paine was appointed as the This year the King’s Board of Governors has been focusing College’s new Director of Marketing and Development and on the preparation of a Master Property Development Plan in the short time since her arrival, she has assembled a strong for the College which will form the blueprint for the next 15 team to assist her in this important area of focus for King’s. to 20 years. This will be a major focus for the Foundation. Jeanette works closely with our Foundation, providing As this Plan unfolds, there will be opportunities for a guidance and support for all of our marketing and significant fundraising campaign. More information will communications activities. She is currently formulating a come to hand over the course of the year and we look Development Programme, which will include fundraising forward to communicating with you further on this. There’s and a more visible Bequest programme. no doubt that exciting times lie ahead for our College. One of the other core functions of the Foundation is to Finally, my sincere thanks to my fellow Foundation Board grow our membership base. To this end we continue to Members Ross Green, Carrie Hobson, Andy Morris, Peter host the New Parents Evenings, and the annual Donors Wilson, Murray Reid and Liz Young for their continued Thank You function. commitment, and the ever-willing and generous time and support that they give to our Foundation. Looking ahead Virtus Pollet. Looking to 2017, we continue to engage with our wider Richard Kidd King’s community at a number of new and traditional events. PRESIDENT In a departure from tradition this year, our 37th Annual General Meeting will be held off site at the Northern Club as a breakfast function on Thursday 1 June. We feel this may encourage more of our centrally-based Auckland members to attend. The Headmaster and Chairman of the Board will both give an address and I look forward to seeing many of you there. FOUNDATION ANNUAL REPORT 2016 5 Our Foundation Board of Management The control, management and conduct of the affairs of our Foundation are vested in the Foundation Board of Management. OUR FOUNDATION BOARD FOUNDATION OUR THE BOARD OF MANAGEMENT COMPRISES: Foundation in growing its Endowment Fund to support the • Four persons, each being a member of the Foundation in College with scholarships and other funding. Richard holds any class of membership, appointed by the King’s College a Bachelor of Agricultural Science and a Graduate Diploma Board of Governors. The 2016 Members are Richard Kidd, in Business. Peter Wilson, Ross Green and Liz Young. Peter W Wilson ONZM • Three persons who are members in any class of INVESTMENT COMMITTEE MEMBER membership elected by the Members. Current Members are Andy Morris, Murray Reid, Carrie Hobson. Peter is an Old Collegian (School, 1952–56) and the founder of an internationally-aligned Auckland accountancy practice. • The Headmaster of the College as an ex-officio member He has served as a company director and financial advisor in of the Board of Management. a diverse range of commercial and investment organisations. The Foundation Board of Management meets formally every Peter is well-known for his long association with the month to review overall progress on the goals of the College and Old Collegians and is the past president of Foundation. The Director of Marketing and Development and the Foundation Board of Management. He is also widely the Director of Commercial Services of the College attend the recognised for his involvement in New Zealand sports Foundation Board meetings. administration and management. Richard Kidd Peter strongly believes in providing the opportunity for parents PRESIDENT from all over New Zealand to have their sons and daughters INVESTMENT COMMITTEE MEMBER benefit from a strong, private education at King’s College and become the best all-rounded individuals they can be. Richard is an Old Collegian (Peart, 1969–73), who was Head of House and Deputy Head of the College in his final year. Ross Green He represents the Foundation on the Board of Governors. CHAIRMAN OF THE BOARD OF GOVERNORS He has lived and farmed at Helensville for more than 38 INVESTMENT COMMITTEE MEMBER years. Richard and his wife, Dianne, have three sons, all of Ross is an Old Collegian (Selwyn, 1968–72) and past parent. whom boarded in School House. He is married to Josephine and they have two children, Richard is passionate about King’s maintaining its position Caroline, and Billy (Major, 2003–07), who was Deputy Head as a leading secondary school in New Zealand and, Boy at King’s College in 2007. therefore, he is keen to give his time, primarily to assist the Front left: Andy Morris, Peter W Wilson, Richard Kidd, Simon Lamb, Carrie Hobson, Ross Green, Liz Young, and Murray Reid. 6 FOUNDATION ANNUAL REPORT 2016 OUR FOUNDATION BOARD FOUNDATION OUR His business career has primarily been in property in Auckland where Carrie has more than 25 years’ corporate experience, initially in banking he is best known as the founder and joint CEO of Kiwi Income Property and finance, and latterly in executive search. She is a founder and Trust, which grew to become New Zealand’s largest listed property owner of Hobson Leavy Ltd, a retained executive search firm. Carrie investment vehicle. In recent years, Ross has continued his interest in has an Honours degree in Economics from the University of Otago, property in a private capacity. is an approved Certified Finance and Investment Professional (CFIP) and a member of the Institute of Directors in New Zealand.