Education consultants CORE Education assessed whether trust funding was making a difference to the education community, whether the approach now used was relevant and how education results could be further improved.
It gathered the views of 30 Masterton education professionals in face-to-face interviews.
The findings, presented to review participants last week, found the trust's investment was making a difference to the Masterton education community in some areas.
CORE Education recommended a more "intentional" and strategic approach to better target and improve results for education providers and students.
This included the trust taking a leading role in an "education conversation", to centralise and unify some of the thinking in the area.
Other key recommendations included spreading funding to achieve greater equity in education, re-scoping the grant application process and providing more visible support.
CORE Education presented the findings to the trust and the review participants last week.
"It was important to hear the views of experts in our education community, as part of the review itself, and with regard to the findings," Mr Bunny said.