Gateway Gift Trust news May 2024
The Gateway Gift held its AGM on 14 May 2024 and covered these significant items:
- Receipt and approval of the Financial Statements and Audit Report to 31 December 2023 showing an operating surplus of $352,467 (FY2022 $86,194). These results included unrealised gains of $444,285 (FY2022 unrealised loss $538,702 and distributions of $184,900 (Fy2022 $191,782).
- Election of trust members – there were no new members nominated for election.
- Current appointers – Bishop Robert Bartholomaeus, Assistant Bishop Warren Paltridge and Denis Mollet (Convenor of FAC)
- Current trust members – Andrew Mattiske, Pr Andrew Marr, Pr Phillip Husband, Lesley Johnson, Pr Warren Paltridge and Dennis Mollet
- Election of Chairperson – Andrew Mattiske
- Next AGM scheduled for 13 May 2025.
The Gateway Gift Trust Board held its regular meeting on 14 May after the AGM and covered these significant items:
- Q1 Financial report to 31 March 2024was reeved and shows the following results:
Gross income $324,301
(includes unrealised gains of $304,227)
Total expenses $ 81,852
(includes distributions of $75,778) - Net Surplus (deficit) $242,449
Net cash flows: $(30,612) - The annual investment review was held with the investment advisors Rutherford Rede. The current value is $4.6 million and the returns in the last 12 months were 11 to 12%.
- Auckland Mountainside Lutheran Congregation were awarded a minor grant.
- The next meeting is 9 July.
