Taranaki Foundation and Friends of New Plymouth Opera House join forces

From left: Peter Rothwell, Bryce Barnett, Bryan Robb, Theresa Cayley and Kevin Murphy.

The Taranaki Foundation will manage the funds of the Friends of New Plymouth Opera House.

The Friends of New Plymouth Opera House have set up a dedicated named fund with the Taranaki Foundation.

The trustees have made the decision to wind up the trust and transfer the proceeds to the Taranaki Foundation, which will administer the funds as per the trust's wishes and see the funds safeguarded in perpetuity.

Kevin Murphy, who has been a New Plymouth Opera House Friends trustee since its inception, says the new fund realises the aspirations of its founders.

"The income from the fund will continue to be distributed according to our wishes for
perpetuity, which is most important to us. It is comforting for us to know the fund will continue to be well managed and get a better return than our term deposits, which means more support for the community."

The trust was established in 2007 to assist in the provision of facilities for recreation and cultural activities to provide financial and other assistance to TSB Showplace, TSB Stadium and Bowl of Brooklands for the benefit of the general public of Taranaki.

The original trustees were Bryan Robb, Tony Pugh, Delwyn Singh, Susie Smith, Noel Andrews, Mary Ruscoe, William Campbell, Nancy Elliot and Kevin Murphy.

At the time of the recent transfer to Taranaki Foundation, the trustees were Kevin Murphy, Delwyn Singh and Peter Rothwell.

The main fundraiser for the trust was the annual 24-hour book sale, which was held annually for 25 years until 2014. The idea was brought to life by Bryan Robb. The first book sale was held in 1989 when it hoped that $7000-$8000 would be raised, but it exceeded all expectations by raising about $20,000.

The book sale continued to grow each year and in total raised more than $500,000 for the theatre, now called TSB Showplace.

More than 100 dedicated volunteers worked on the book sale each year. This small army
worked in shifts during the sale, with a dedicated few who worked the full 24 hours.

The trust also raised funds through ushering services and sales at the TSB Showplace Kandy Bar, as well as providing gate staff for the Womad festival.

This is the single largest "trust transfer" to the Taranaki Foundation and foundation chairman Bryce Barnett says he and the board are very appreciative and thankful for the trust and confidence the group has placed in them.

"Our aim at Taranaki Foundation is to provide local charities with sustainable long-term income through the revenue generated from the investment of funds. It is a privilege to provide this service and continuity for Friends of New Plymouth Opera House and to support them into the future," Bryce says.

Kevin Murphy says the transfer of their trust to the Foundation was straightforward.

The trustees are pleased that the Foundation will continue the good work of the Friends.

"Taranaki Foundation has established itself as a trusted community-connected organisation, supporting the breadth of local activity and the richness of our community. We are pleased to be adding to that wider picture."