Governing Dilworth School
The Dilworth Trust Board is one of New Zealand's largest charities and provides the funding to support Dilworth School. A small amount (around 7%) of the annual operating expenses of the School is covered by the government grant provided to all Independent Schools, with the Board providing the major share, as well as covering the cost of all capital works.
The original endowment, of £100,000 in land and funds left to us by James Dilworth in 1894, has been invested wisely since then and has now grown, to become a diversified portfolio of investments. The Dilworth Trust Board still invests predominantly in property, and especially property located close to the Auckland Campuses, but, in addition, it holds a number of other investments including shares and bonds, both within New Zealand and overseas. Professional fund managers are utilised for the non-property investments, while the Trust Board staff manages the property portfolio in-house.
The Board invests prudently, in order to ensure that there is a certainty of income to fund the boys at the School. Diversity and effective risk-management are the cornerstones of the Board's investment strategy.
The sole beneficiaries of the Dilworth Trust are the boys who attend the School. The Board is specifically precluded from assisting any other cause, however worthy it may be. Consequently, the Dilworth Trust Board and its staff remain focused on the task set forth in Dilworth's Will.
A unique duty of the Board is the granting and withdrawal of scholarships. While the Academic Staff provides significant input to this process, the final selection remains firmly with the Trustees. The Board's primary objective, however, is always the future support for existing boys, with the secondary objective being the long-term expansion of the Trust assets, in order to educate and support greater numbers of boys in coming years.