How we determine the annual dividend
At the beginning of each financial year Trustees adopt an annual budget that takes account of the forecast financial performance and current financial position of the Trust and reflects where we believe the Trust should be directing its business focus. As the budget is instrumental in determining the level of community dividend that will be made available each year for distribution there can be no guarantee the number, value or type of grants awarded one year will be matched in the next.
A similar outcome may also result from a decision to amend our strategic funding priorities.
Accordingly, even where eligibility is established and the criteria relevant to each grant category are met, the award of grants remains entirely at Trustees discretion.
The allocation process
Having determined the level of annual community dividend we allocate the available funding between the purposes we wish to support based on our strategic priorities. In the way that the purposes are defined, through the use of grant categories, prospective grant recipients are able to understand which grant is applicable to the circumstances for which they are seeking financial assistance.
The funds we agree to set aside each financial year for distribution from these various grant categories are either subject to a competitive application process or, where considered appropriate for strategic reasons, automatically awarded to specific recipients.
Core funding criteria
Two core criteria apply for an individual or organisation to be considered eligible to receive a grant from the Trust’s community dividend:
- An individual must be able to demonstrate to the satisfaction of Trustees that he or she is a resident of the Greytown District. Likewise, an organisation must be based within the Greytown District or, if not, be able to demonstrate that it operates within the Greytown District and provides a service or benefit to Greytown District residents.
- The purpose for which a grant is requested and may be awarded must be consistent with the purposes on which the trusts on land owned and managed by the Trust are held, as set out in section 13 of our Act.