STEWARDS’ TRUST

The Stewards’ Trust of New Zealand Incorporated (its full legal name) is incorporated under the Incorporated Societies Act 1908 (No. 222834) and is also registered as a charitable entity under the Charities Act 2005 (No.CC10270). For more information visit the Charities Register at www.charities.govt.nz.

Stewards’ Trust celebrates its centenary in 2019. It was established by prominent Assembly Elders and businessmen in 1919 to provide trustee property services for Brethren Assemblies.

 

The Trust currently provides the following:

·      A property trustee service for Brethren Assemblies and other entities such as Christian Camps. Stewards will hold title in its name for the benefit of an Assembly or Christian ministry.

·      Assistance to Assemblies seeking information about Stewards’ Group Insurance Scheme for property and liability insurance.

·      A financial administration service for various funds principally for the support of Christian work within New Zealand.

·      An administration service to receive and disperse legacies for Christian work, and Charitable gifts.

·      Assistance to Assemblies that are seeking to explore registration under the Charities Act 2005.

·      Assistance to Assemblies seeking help and guidance in relation to property and finance matters - Other Services.


Property Trustees Service

Stewards Trust has been holding title to Church and other ministry properties since 1919.

Each property is held under a specifically designed individual Declaration of Trust.

This provides a ready-made trust structure at minimal cost and effort. It ensures that there is continuity of title holder and assurance that the property is held for the purposes stated.

For more information please contact the Secretary.


Property and Liability Insurance Scheme

 

In 2011 Stewards’ Trust initiated a nation-wide scheme for Property and Liability Insurance Cover for Assemblies and related Ministries. This maximises the opportunity of ‘bulk-buying’ in the insurance market while at the same time providing individual contracts with each Assembly.

The work is handled by an experienced Insurance Broker, based in Wellington and cover is placed with reputable Underwriters.

Currently there are approximately 100 Churches participating in the Scheme as well as Assembly ministry organisations utilising the liability policy options.

Every Assembly or ministry that participates in the Scheme also contributes financially to the work of GC3 Ministries through a gifting arrangement by the Broker.

For more information please contact the Secretary.


Financial Administration 

Stewards Trust administers a number of Investment Trusts on behalf of other entities on behalf of other Christian Trusts as well as its own internal funds.

This work is carried out in conjunction with external investment experts.


Personal Legacies and Bequests 

 Stewards’ Trust can be named as a beneficiary in a Will. The purpose can be specified – for example, a particular ministry or charitable purpose – whether in New Zealand or overseas. Alternatively it can be left to the discretion of the Executive Committee of Stewards Trust to be allocated.

It is important in naming Stewards Trust in a Will that the correct full name of the Trust is used – ‘The Stewards Trust of New Zealand Incorporated’.

If you would like to discuss a possible bequest with Stewards Trust – please contact the Secretary.

Everyone should have a Will. Stewards’ strongly recommends that if you do not have a Will, you contact a lawyer and discuss your situation.


Charitable Gifts

Stewards Trust can also receive gifts from any individual as long as the gift is for a charitable purpose and it fits within the objects for which Stewards was established.

Gifts may be with specific direction (to a specified charity) or be made at Stewards’ Executive discretion.

For more information please contact the Secretary.


Charities Services Registration

The majority of Brethren Assemblies have already registered as Charities under The Charities Act 2005.

The Register remains open for applications. If your Assembly has not yet applied it can seek registration at any time. 

Stewards’ can assist with this process by providing the necessary documentation including a Governance Statement and a Statement of Doctrine – if your Assembly does not have a Trust Deed.

Stewards will also assist you to navigate the Charities Website registration process.

For more information please contact the Secretary.


Other Services

The composition and experience of the Executive Committee has led to Stewards also providing wider commercially related services to the Assemblies as issues have arisen.  This has become more focused in recent years as more legislative responsibilities have been imposed on the wider community and on the administration of Assemblies.

For example over the past 35 years the introduction of GST and other tax related legislation,  the Charities Act (with consequential financial reporting requirements), the Health and Safety Act and others.

Stewards will continue to monitor and advise where legislative changes occur.


The Stewards’ Foundation

The Stewards’ Foundation (New Zealand) Incorprated (its full legal name) is incorporated under the Incorporated Societies Act 1909 (No.223296) and also as a charitable entity in terms of the Charities Act 2005 (NO.CC10589). For more information visit the Charities Register at www.charities.govt.nz.

Purpose:

The Foundation provides lending facilities to Assemblies to facilitate the acquisition and development of Assembly property and related ministries (eg. Camps). Funds are lent at favourable rates.                                 

Over the years this has included full-time workers and missionaries.

Operations:

 As a result of legislative changes in recent years the Foundation no longer borrows funds from Depositors to assist the capital base of its fund. Now it relies on its capital base to provide lending funds.

  • Funds are lent on a first mortgage security basis.

  • Repayment can be on a ‘quarterly reducing repayment basis’ where each instalment comprises a fixed principal sum plus interest calculated on the opening quarterly balance OR on a ‘table’ basis over the term of the loan.

  • Loans are offered on a 10 year term or may, in exceptional circumstances, be extended to 15 years.

Please contact the Secretary for a Mortgage Application Form or for more information.


Governance

Stewards Trust and Stewards Foundation are separate legal entities having different functions.. However the two entities are very closely linked using the same Membership and Executive Committee. The day–to-day administrative work is conducted by the Executive Committee. The Committee is typically comprised of experienced business professionals. The Committee meets quarterly.

Current membership is as follows:

Executive Committee (2019)

  • Graham Walton (Chairman) – Auckland

  • John Robinson (Secretary) – Auckland

  • Andrew Linton (Treasurer) – Hamilton

  • Phil Aish – Auckland

  • Malcolm Davie – Wellington

  • Cameron Bennett – Hamilton

  • Phil Caffyn – Hamilton

  • Stewart Rowe –Palmerston North

  • Murray Frost – Christchurch

  • Kotie Smith – Auckland

Membership (2019)

  • Terry Bradley – Orewa                                                                                                                             

  • Andrew Clemow – Whangarei

  • Alan Thorp -  Auckland

  • (Mrs) Glenys Yeoman – Auckland

  • Mark Gardiner – Cambridge

  • James Major – Havelock North

  • Jeff Simpson – New Plymouth

  • Jay Gillett – Matamata

  • Dean Paynter- Nelson

  • Graham Anderson -Christchurch