Mokaraka Trust Charity number 1197804 Constituted on 4 February 2022 111 Ashley Gardens, sw1p 1hj, London, UK
Date 1/1/2023
Annual Report and Accounts
Prepared and submitted by the Trustees of the Mokaraka Trust
Objectives and activities
This year was the first year of setting up our charitable trust. Our trust was constituted on 24 October 2021 with four trustees Melanie Smith, Stephane Jacques Francois Hebert, Christina Marie Hawley and Maria Eleni Moutsoupoulou who remain trustees at the time of this report.
The object of the charity is for the public benefit to promote the education (including social and physical training) of Maori and women in New Zealand in such ways as the charity trustees think fit, principally by awarding to such persons scholarships, maintenance allowances or grants tenable at any university, college or institution of secondary, higher, tertiary or further education.
The trustees meet regularly to determine potential channels to award recipients and (when required) review grant applications.
Achievements and Performance
We secured donations of £515,000 from our trustees.
The charity pays for no employees and pays for no trustee fees. Our expenses this year were zero.
Trustees loaned the trust some initial funds to ensure we were ready to make grants, this will be repaid in the following financial year
We established a clear and open grant making policy – to enable as many successful applicants as possible.
We were less successful at spending our money and awarded 2 grants, one to KH, an exceptional young woman who has since completed her MBA at Harvard Business School and one to TB a young Maori who completed his first year of business studies at Auckland Business School
We also established a relationship with Auckland University (as part of the trustees prior philanthropic activities to find additional grant recipients. Details of how applicants can access the scholarship can be found here. https://www.auckland.ac.nz/en/study/scholarships-and-awards/find-ascholarship/mokaraka-maori-women-in-business-scholarship-1055-bus.html
We also attempted to set up a scholarship with Howick College but were unsuccessful in finding applicants who wished to study business.
We commenced discussions with AUT and Victoria University about the provision of scholarships to potential applicants
Financial Review
We received £515,000 in donations and dispursed 11,879 in awards
Donations 515,000 Awards -11,879 Net 526,879
We ended the year with significant cash - £503,121 in unrestricted reserves.
Structure and governance
The Mokaraka Trust is constituted as a Charitable Incorporated Association (constitution filed 25 January 2022). Our trust was constituted on 24 October 2021 with four trustees Melanie Smith, Stephane Jacques Francois Hebert, Christina Marie Hawley and Maria Eleni Moutsoupoulou who remain trustees at the time of this report.
Signed
MJSmith for and on behalf of the trustees
Mokaraka Trust Accounts
Charity number 1197804 Constituted on 4 February 2022
Income statement as at 1 January 2023
Donations 515,000 Awards -11,879 Net 503,121
Cashflow statement as at 1 January
| Award | -11879 |
|---|---|
| Donation | 515,000 |
| Expenses | 727 |
| Trustee Loan | 60,000 |
| Grand Total | 563,848 |
Balance Sheet as at 1 January 2023
| Cash at hand 563,848 |
|---|
| Creditors 727 |
| Loans 60,000 |
| Unrestricted funds503,121 |