Single application date for large Grants $50,000 & over

Applications for grants of $50,000 and over to the TSB Community Trust will now have a single, annual application date of August 15.

Effective from the Trust’s new financial year starting in April 1, 2008, the large Special Grant application change is in response to a steadily increasing number of large applications.

 “To achieve the best outcome for the community with the funds available, The Trust will assess all large grant applications at one time,” explains Ms. Tuuta.

“By having one date for applications over $50,000, we will be able to carefully prioritise all those applications at one time. This will help the Trust to budget appropriately for the whole year so as many community groups and individuals as possible can benefit from the Trust’s funding.”

The Trust will process the over $50,000 applications from August to October and will inform successful applicants in early November.  The new process will require additional presentations and information from applicants.

“To help large grant applicants get the best outcome, we urge those community groups to meet with Trust staff to discuss their application well before the close off date of August 15,” recommends Ms. Tuuta.

“As applicants now have only one window a year, groups will need to ensure that all the information and documents for their application are submitted as required.

A letter outlining the application changes will be mailed out in April to all 2007 applicants as well as traditional applicants for large grants such as schools, festivals and sports event organisers.

In addition, the Trust will start running advertisements building up to the close off application date of August 15.

Since the TSB Community Trust was formed in 1988 it has distributed more than $46 million.  This has assisted a wide range of groups and individuals which have as their objects charitable, cultural, philanthropic, recreational and other purposes beneficial to the Taranaki Community.

An announcement on successful applicants for the February 15 closing date for the final quarter of the 2007 financial year will be published in the Daily News in April.

As the sole shareholder and owner of the TSB Bank, the TSB Community Trust receives an annual dividend from the Bank which forms the basis of its funding pool. Due to the Bank’s success, this amount has risen from the first funding year in 1991 of $160,000 to an estimated $7.2 million for the 2007 financial year.