The Keystone Trust, set up 21 years ago to provide support to tertiary students undertaking property-related studies, has announced ambitious plans to treble its funding capacity within 10 years.
The trust has built up a capital base of $1.3 million through corporate sponsorship & investments, and chair Mike Higgins said at the annual scholarships night last week it wanted to grow that capital base to $5 million by 2021 through investments, donations, major gifts & legacies.
In the last 2 years, Keystone has added 10 industry organisations to its sponsors, taking the total to 25, and Mr Higgins said the trust had taken the necessary steps in the last year to provide long-term financial independence, including establishing the Keystone Foundation.
To help the capital growth programme, Keystone trustees Paul Duffy (Hayphil Property Ltd) & Chris Gudgeon (Kiwi Property Group Ltd) have stepped down as trustees to focus on the Keystone Foundation. Mr Duffy was instrumental in establishing the Keystone Trust 21 years ago, chaired it for the first 17 years and will chair the new foundation.
Mr Higgins & Andrew Petersen (Bell Gully) will represent the trust’s governance & regulatory interests on the Foundation. Precinct Properties Ltd chief executive officer Scott Pritchard has been appointed as a new trustee.
Attribution: Trust release.