Trust spokesperson and the Yeats' family lawyer Jonathan Tanner, who represented the trust at the awards ceremony, said the honour "belonged to the people of Carterton".
"It is recognition for everyone who got involved and rallied behind Grace," Mr Tanner said.
"The community spirit is still strong in Carterton -- we look after our own. This award should go to the entire Carterton community, not just us."
Grace was an active, sociable 10-year-old when she contracted the extremely rare brain disease, acute disseminated encephalomyelitis.
Grace's illness was particularly ferocious, attacking the basal ganglia, which affects movement and co-ordination -- leaving her unable to move, speak, sit or swallow.
While her family remained at her side at Starship Hospital for close to a year, their community wasted no time making sure Grace had a fully equipped home to return to.
Residents organised an auction evening featuring a signed London Olympics New Zealand rowing singlet, a charity ball, and sports tournaments against Members of Parliament.
Schools took part in head shaves and mufti days, shops put out collection boxes en masse, businesses donated shares of their profits, and artists put their work under the hammer.
Charitable efforts went beyond Wairarapa, with Herb Farm of Palmerston North raising funds through a massage oil they developed in Grace's name,
and a Wellington mobility company donating a van for the Yeats family.
Mr Tanner said the level of support was "staggering".
"People who didn't even know Grace were planning all these different events," he said.
"The trust didn't have to organise much at all."
Mr Tanner said Grace's illness has been "traumatic" for the family, and her disabilities present significant challenges. But, thanks to therapy and support from mum Tracey, Grace, now 13, is now able to communicate using an iPad, and is back at St Mary's part-time.
"The illness has caused catastrophic damage -- it was bad luck on bad luck. But, considering how sick she was, Grace is doing great.
"The way Grace and Tracey deal with this thing is incredible -- they're the ones that should be getting a bravery award."