Scholarships Profile, Trustees SBC Foundation Annual ......March 2015 and is therefore revisited...

I have pleasure in presenting the Chairman’s

report for the 36th Annual General Meeting

of the Foundation.

Over the last year, the Foundation has

continued to stand beside the College,

providing active financial support in a

number of important areas. In this way,

the Foundation is making a significant

contribution to the school’s rebuild and

recovery programme. This involvement is

expected to increase in the near future as

the College has asked the Foundation to

work alongside the Old Boys Association

and the Development Office in leading a

major fund-raising campaign for the rebuild

of the Chapel. At the time of writing, the

Foundation is awaiting finalized concept

plans from the College’s working group

before launching this appeal.

Loans to the Board of ProprietorsLast year’s report noted how:

• TheBoardofProprietorshadpreviously

made a request to the Foundation

to forgive the substantial loans the

Foundation had made to that body. The

purpose of the request was so the Board

ofProprietors’balancesheetmightbe

strengthened, thereby putting it in a better

position to carry out the required rebuild

of College facilities.

• TheTrusteesoftheFoundationhad

carefully considered this matter before

deciding to agree to the request.

The principal motivation was that the

Foundation believed that forgiving these

loans would assist the College and speed

up the rebuild.

This matter was formally concluded in

March 2015 and is therefore revisited here.

It is also important as background to several

other developments for the Foundation over

the last year.

Loan to the Board of TrusteesSome years ago, the Foundation had loaned

the Board of Trustees funds to complete

the Centre of Learning. In 2015, the Board

of Trustees requested that this loan be

written off. The sum owing at this time

was $52,000. After due consideration, the

Trustees of the Foundation unanimously

agreed that this loan would henceforth be

interest free and that the principal would

only be payable at a date in the future that is

mutually agreed.

Finance The Foundation recorded a deficit for the

year of $80,505 (compared to a surplus of

$140,686 in 2014). This was largely due to:

• Theforgivenessoftheloansmade

to the College - this was the main

contributor to a very significant decline

in the Foundation’s gross income (from

$287,606 in 2014 to $68,759 in 2015).

• AlackofincomefromtheStPatrick’s

ForestryPartnership-thiswasdueto

a decision by the partners to postpone

logging during 2015 in the expectation

that export prices would rise at a later

date.

The Foundation is one of four Bedean

community groups that function through the

Alumni & Community Development Office.

The others are the St Bede’s College Old

Boys Association (SBCOBA), the SBCOBA

War Memorial & Jubilee Trust, and the North

West Christchurch Community Sports Trust

(NWCCST). All four of these bodies are

not-for-profit and, with the exception of the

SBCOBA, they each have charitable status.

The Foundation’s role is to receive charitable

donations and endowments made by Old

Boys and friends of the College and to apply

these funds to the benefit of the pupils of St

Bede’s.

The secretarial and treasury functionality

for the four community groups is provided

by the College’s Alumni & Community

Development Office. Tony Murdoch

arranges and attends the meetings of all

four organisations. He reports to the College

boards on a monthly basis and, through

the Old Boys newsletter, keeps up a regular

flow of information to the wider Bedean

community. Tony’s work (and the efforts

of the various Trustees and Committee

Members) has ensured that the four

community groups have been well informed

of each other’s activities and have worked

together in a highly cooperative fashion on a

number of important projects.

The Foundation has been an active part

of creating this “open” environment and

believes that such work is a necessary

prelude to the fund-raising challenges that

lie ahead. An example of this activity has

been the staging of reunions and functions

both in New Zealand and Australia by the

SBCOBA. These events help foster a sense

of a Bedean community and, as a happy

by-product, also broaden the base of the old

boys support network.

SBC Foundation Annual Report

Chairman’s Report

St Bede’s College Foundation

Year Ending 31 December 2015

Foundation Profile, Trustees & Officers:The St Bede’s College Foundation is a

registered charitable foundation. It was

established in 1978 and has made a

substantial contribution to the College

over the years.

As at 31 December 2015 the

Trustees were as follows:

Hayden Ryan (Chair)

Brendan Callaghan

Garry Donnithorne

Michael Ensor

Vance Stewart

Andrew Sparrow

Appointed in 2014

Garry Donnithorne

Ex Officio

AlanDalton(ChairmanofBOP)

Warren Johnstone (Chairman BOT)

Justin Boyle (Rector)

Officers

Tony Murdoch Secretary/Treasurer

Margaret Bartholomeusz (Finance)

Auditors

BDO Christchurch

Solicitors

McGillivray Callaghan & Co

Contacts

St Bede’s College Foundation

210 Main North Road

POBox5380

Christchurch 8542

Phone:033750647

Email: [email protected]

Currently the Foundation is responsible for the management of two endowed scholarships. These are the John Twomey Memorial Scholarship and the Fitzgerald Family scholarship. The College is keen to increase the numbers of scholarships available to both day boys and boarders and has asked the Foundation to assist with this process.

The Foundation is responsible for managing scholarship endowment funds and works with the Rector and the Boards to establish the structures for awarding scholarships and for the ongoing management of the scholarship programme. The benefactors of these funds will be the students, staff and the College’s teaching programmes.

Scholarship endowment funds will assist St Bede’s College in perpetuity. The capital value is protected for the benefit of future generations and a percentage of the interest earned through the Foundation is used to fund the scholarships.

Donors are not restricted to individuals. Groupings may wish to endow a specific programme or companies associated with the College may wish to align themselves to a subject or teaching programme.

The Scholarship Endowment programme is designed to:

•Providearangeofscholarshipstosupportboys to attend St Bede’s.

•Helpfamilieswithsonsattendingtheschool, or who are intending to enrol, who are experiencing financial difficulties.

•Offerthewidestrangeofeducationalopportunities to the greatest number of students.

Scholarships

The Fitzgerald Family Scholarship

Inspiring Academic Excellence and Developing Leaders

RESponSE FoRmPlease return this tear off form with your application to register your

interest for the Fitzgerald Family Scholarship.

ConTACT DETAILS:

First Names:

Surname:

Parents Name(s):

Postal Address:

Phone: (Mobile):

Email:

FoR FuRThER InFoRmATIon pLEASE ConTACT:

The Rector

St Bede’s College

PO Box 5380

Christchurch 8542

Phone: 64 3 375 1871

Fax: 64 3 352 0345


The John Twomey Boarding Scholarship

Inspiring Academic Excellence and Developing Leaders

RESponSE foRmPlease return this tear off form with your application if you wish to

apply for the John Twomey Boarding Scholarship.

ConTACT DETAILS:

First Names:

Surname:

Parents Name(s):

Postal Address:

Phone (Bus): (Mobile):

Email:

foR fuRThER InfoRmATIon pLEASE ConTACT:

The Rector

St Bede’s College

PO Box 5380

Christchurch 8542

Phone: 64 3 375 0647

Fax: 64 3 352 0345


Response foRm

ContaCt Details:

First Names:

Surname:

Postal Address:

Phone (Bus): (Mobile):

Email:

sCholaRship options:

OPtiON 1: StudENt SchOlArShiP

Please specify your preference:

OPtiON 2: StAFF SchOlArShiP


OPtiON 3: SPOrtS SchOlArShiP


OPtiON 4: rEgiONAl SchOlArShiP


OPtiON 5: culturAl SchOlArShiP


please RetuRn to:

the development Manager

St Bede’s college Foundation

PO Box 5380

christchurch 8542

Phone: 64 3 375 0647

Fax: 64 3 352 0345


The Foundation currently holds seven

sharesoutof25intheStPatrick’sForestry

Partnership.Thisprojectwasinitiated

in 1983 and comprises a block of 356

hectares of pinus radiata located in the

hillyareabehindStPatrick’sCollege

Silverstream.

The forest is managed by Forest Enterprises

Ltd (FEL) and harvesting began in

September 2010 and, at the time it was

expected that the harvest would take 4 years

to complete. From the outset it became clear

to the partners that there were three major

complexities to the work and these were the

• Costofroadinginthissteepandgullied

location

• Fluctuatingexportprices

• Problemsassociatedwithhighwinds

In 2014 it was decided to put a halt to

logging as prices had fallen alarmingly.

During the year after due consideration it

was decided to resume logging with a view

to removing all remaining trees. At present

this work is continuing with an expected

completion date of October 2016.

With Murray Ireland’s retirement from the

Foundation Tony Murdoch has taken over

the role of chairman of the partnership. In

order to improve communications, he has

worked with Bernie Lagan and FEL and via

regular tele-conferences and site visits this

group has successfully kept the partnership

informed. I would like to acknowledge Bernie

Lagan’s expertise and advice. It is greatly

appreciated.

St Patrick’s Forestry Partnership

• TheFoundationincreasingitsannual

contribution to the Development Office to

$124,061 (up from $105,029 in 2014).

In doing so, the Foundation continues to

fund what is effectively an operating cost

for the College. In the past, the Board of

Proprietorshadtakenashareofthese

costs, which are now entirely funded by

the Community groups.

Expense for the year were $149,264 (similar

to the 2014 amount of $146,919). The total

assets, at year end, were $1,191,611.

Financial ManagementAs at 31 December 2015, the portfolio

valuation was $597,989 (compared to

$574,099 in 2014).

For many years, the Foundation had been

the beneficiary of excellent advice and

sound investment strategies provided by

NZFinancialPlanning.However,asaresult

of a 2015 review, the Trustees decided to

appoint JB Were Limited as the Foundation’s

investments manager. This decision in no

way reflected on the quality of NZ Financial

Planning’swork,butratherensuredthat

the Foundation remained aligned with the

approach taken by the community groups as

a whole.

The Trustees are very grateful to NZ

FinancialPlanningfortheirlong-standing

support and, as Chairman, I wish to use this

opportunity to thank them for their years of

service.

The Chapel AppealTheBoardofProprietorshasformally

asked the Foundation to lead a fund-raising

campaign to rebuild the College Chapel.

Sadly, the former building - venerated as

the oldest structure on the school campus -

had to be demolished in 2011 as a result of

severe earthquake damage.

The Chapel Appeal will be a major

campaign, and the Foundation plans

to work closely with both the Old Boys

AssociationandtheBoardofProprietors.

At the time of writing, the Foundation is

awaiting finalized concept plans from the

College’s working group. Once these are

received, we will be ready to launch, but in

the meantime the Foundation is carrying

out preparatory work behind the scenes,

along with the Development Office and the

SBCOBA. As one example, the Foundation

and the College have successfully

transitioned Tony Murdoch’s responsibilities

for property (taken up in the aftermath of

the earthquakes) to the College’s General

Manager, Haydn Randall (appointed in

the latter part of 2015). This has enabled

Tony to concentrate fully on his work with

the community bodies and to prepare the

ground for what will be one of the College’s

most significant fund-raising ventures.

As previously reported, it is envisaged that

the principal thrust of the fund-raising

campaign will be to seek “a little from a

lot”. This equates to asking Old Boys and

Friends of the College for their support via

regular weekly or fortnightly giving; with

these contributions being paid through the

Foundation to the Chapel Appeal. Further

details on this campaign will be provided as

it is launched.

Scholarships Through the work carried out by the

Alumni & Community Development Office,

the Foundation has actively sought to

encourage endowments for scholarships.

Such scholarships frequently play a critical

role in assisting boys to attend the College.

Under this scheme, donors are encouraged

to provide a lump sum which is then held by

the Foundation and invested. The interest

generated by each endowment can then

be used to fund the scholarship which is

awarded and administered by the College.

Two recent examples are:

• The Fitzgerald Family Scholarship -

During the year, the Fitzgerald family

donated funds to endow the Fitzgerald

Family scholarship and this was awarded

for the first time to Nicholas O’Connor

from St Canice’s School in Westport,

who started at the College as a Boarder

in 2016. On behalf of both the College

and the Foundation I want to thank the

Fitzgerald family for this very generous

act.

• JP Twomey Memorial Scholarship - In

2004, the late John Twomey left a

bequest of $160,000 to be used as a

scholarship trust. In 2016, the scholarship

was awarded to Harry Smith. The Rector,

Justin Boyle, and Old Boys Michael

Walker and Andrew Sparrow are the

current Trustees for this scholarship fund.

Over the last year, Tony Murdoch

(inassociationwithPaulCaseyfrom

Mackay Bailey Accountants) carried out

a comprehensive review of the various

scholarships available to boys at the College.

Tony’s findings and recommendations

were tabled for discussion and have

resulted in a number of improvements to

the management and visibility of these

scholarships. In addition, the Foundation

was able to identify some scholarship fees

that remained outstanding and to work with

the College and the Scholarship trustees

to ensure all compliance matters are dealt

with in a timely fashion. The record of

scholarships has also been updated (for

example, the origins surrounding several

long-standing awards were “rediscovered”

thanks to Tony Murdoch’s detailed

research).

John ButchardPriortothelastAGM,heldon24August

2015, John Butchard signaled his intention

to step down as Chairman and retire

from the Foundation. I wish to take this

opportunity to thank him most sincerely

for his contribution to the Foundation since

2006 - initially as a Trustee, then as Deputy

Chairman, and finally, over the last three

years, as Chairman. Although I remember

various encounters with “Mr. Butchard”

when his eldest son Tom and I were school

and university friends in the 1990s, my

first formal involvement with the gentleman

I could now greet as “John” was when we

served together as members of the College’s

Centennial Committee. Over the four years

that this body met I appreciated his abilities

as a Committee Member and as the Chair of

the financial sub-committee. Since joining

the Foundation as a Trustee, I have been

similarly impressed with John’s leadership

and financial acumen, his wise counsel and

his unwavering loyalty to the College. These

attributes, along with the many other skills

he has displayed in his years of service to St

Bede’s, have benefitted both the Foundation

and the College. On behalf of the College

and the wider St Bede’s community, thank

you John!

TrusteesI wish to thank my fellow Trustees - Vance

Stewart, Brendan Callaghan, Andrew

Sparrow, Garry Donnithorne, and Michael

Ensor - for their commitment and support

over the last year.

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St Patricks & Moonshine Forests - Harvest Status Map December 2013

0 200 400 600 800 1,000Meters

Date: 23/01/2014

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Remaining Stocked Area

AdministrationThe College’s Alumni & Community

Development Office was responsible for the

day-to-day management of the Foundation’s

business. I would like to thank Tony

Murdoch, Jacinta Gardner, and Margaret

Bartholomeusz for all their efforts.

The FutureIn 2016, the overall focus of the

Foundation’s has been to work with

theBoardofProprietorsandtheother

Community groups to ensure that all parties

are aligned prior to the commencement

of the historic Chapel Appeal. A number

of meetings have been held to this end

and the Foundation has agreed to provide

significant resources for this work. The

Trustees have also been anxious to ensure

that the fund-raising efforts will not deplete

the Foundation’s resources and asset based,

and I am satisfied that this concern has

been highlighted and addressed.

As a group, the Trustees are looking forward

to the fund-raising challenges ahead and to

continuing a rich tradition of the Foundation

assisting the College in its times of need.

The first Rector of the College, Fr Graham,

has been rightly lauded for the near-miracles

he achieved in founding St Bede’s twice;

first at its original Ferry Road site and again

at Main North Road. We are confident this

bold spirit lives on in the Bedean community

and that it will come to the fore once again

as we seek everyone’s help in 2017 to

rebuild the Chapel of St Bede.

Scholarships Profile, Trustees SBC Foundation Annual ......March 2015 and is therefore revisited...

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Transcript of Scholarships Profile, Trustees SBC Foundation Annual ......March 2015 and is therefore revisited...