Co-chair’s report (1 July 2022 - 30 June 2023)

Tēnā koutou katoa, 

The Rule Foundation has made some exciting progress in our efforts to better support rainbow communities and make our grant-giving more effective. For the first time in the Foundation’s history, we created a five year strategy to help formally guide our approach. Alongside this, we employed a Programme Manager to assist the volunteer Trustees in achieving the strategic aims we have set out, and build and strengthen our relationships with key partners, rainbow communities and potential grantees. 

The Peter Rule Fund

The Peter Rule Fund (PRF) operates year round with no specific application deadlines and applications are reviewed continuously. Grants awarded are generally up to $5,000. The PRF continues to award funding to 75% of applications received. 

Grants were awarded to a wide range of projects around Aotearoa in the 2022/23 financial year. This includes creative and cultural connection hui for Māori and Pasifika LGBTQI+ communities, guidelines for primary care clinicians around gender affirming hormone therapy, Hui Takatāpui 2022 and more.

In February 2023 the Trustees announced the decision to reduce the amount of funding available for granting from the PRF for the 23/24 financial year. This decision was based on our investments' performance in the previous year and our need to focus on other activities that can have a greater impact on rainbow communities than direct giving. The reduction to funding available through the PRF is temporary, and the Trustees recognise the value of having a resource like the Peter Rule Fund available to the rainbow community. 

The Rainbow Wellbeing Legacy Fund

The 2022 round of the Rainbow Wellbeing Legacy Fund (RWLF) saw up to $299,999 in grants available, including a $99,999 contribution from the Rule Foundation’s partnership with Foundation North, the community trust for Tāmaki Makaurau Auckland and Te Tai Tokerau Northland. A total of 29 applications were received, with 15 being funded and a further application moved into the PRF to be funded. The successful applications are currently running, with most due to finish in 2024. 

For the 2023 round of the RWLF, the total amount of funding available increased to $500,000. This total includes co-funding of $200,000 from Foundation North, and $100,000 from the Ministry of Youth Development - Te Manatū Whakahiato Taiohi. With the increased amount available for granting, the Trustees decided to increase the total amount available per application. This increase is from $20,000 per year over three years to $50,000 per year over three years. 

Applications for the 2023 round closed on 31 July 2023. We received 48 applications, requesting a total of over $2 million. The Trustees and grant advisors are currently in the process of reviewing the applications.

The Trustees would like to thank our co-funding partners for helping us increase the amount of funding available to our rainbow communities. Their contributions mean the amount of funding available is more than double what it would usually be. 

Finances

Grants awarded in the 12 months to 31 March 2023 totalled $346,870, another annual record. Granting returned to more normal patterns as the pandemic-related restrictions of early 2023 became memories and confidence in in-person activities returned, meaning the only grants awarded but not paid out are for multi-year grants in the Rainbow Wellbeing Legacy Fund. New funding partnerships and establishing new funds is done under a model that provides funds for administrative activities and grant-making.

Despite a turbulent three years in the financial markets, the annualised return on our investments with Milford Asset Management remains competitive and we continue to have confidence in their management of our funds.

Trustees

At time of writing the current makeup of Trustees of the Foundation has been in place since June 2019.

Joy Liddicoat’s term was renewed in 2021 until August 2025. In May 2023, co-chairperson Duncan Matthews’ term was renewed until June 2026. In June 2023, Co-chairperson Toni Duder’s term was renewed until June 2027 and Eileen Kelly’s term was renewed until June 2024. David Reeves’ term is up for renewal in December 2023. We anticipate calling for expressions of interest in trusteeship of the Foundation within the next 12-months.

Operational Update

In early 2023, the Trustees farewelled Michael Sousa who had been in the role of Administrator since July 2021. During his time with the Rule Foundation, Michael helped significantly ease the burden of weekly administrative tasks on our volunteer Trustees, enabling us to focus on assessing grants that come through regularly from the PRF and on progressing the strategic direction of the Rule Foundation. The Trustees wish to thank Michael for his support and dedication to his role. We wish him all the best for his future. 

The tasks completed in the Administrator role were split between two new paid roles created in early 2023. In May 2023, Catherine Bodnar joined the team as the Board Secretary - overseeing the organisation of meetings of the Trustees, the annual AGM, as well as minute taking for meetings. Catherine works full time for Foundation North and has been a great addition to the team, we are grateful for her assistance. 

In April 2023, Lily McFarlane joined the Rule Foundation as Programme Manager. The Programme Manager role was created to help the Trustees progress the strategic direction of the Foundation as well as to build our relationships with our partners, supporters and grantees. 

Lily brings experience in working in the philanthropic sector, previously working for Philanthropy New Zealand, as well as a keen interest in fostering meaningful relationships between the funder and grantee. The Trustees are excited to have Lily as part of the team. The Programme Manager role has already proved valuable, with Lily being able to meet and make connections with our partners and grantees in more reciprocal ways than the Rule Foundation could with only volunteer Trustees. 

Closing

The 2022/2023 financial year was the Rule Foundation’s biggest yet. We now have two paid roles, have given over $1 million in funding to rainbow communities and are set to add $500,000 more through the current round of the RWLF. We have a dedicated capacity to grow our relationships, ensure our granting is meaningful to the communities we serve and to build the Rule Foundation’s profile in fundmaking in Aotearoa. 

Ngā mihi nui,

Duncan Matthews and Toni Duder

On behalf of the Trustees of the Rule Foundation