Set up as a charitable trust in 1990, the Foundation raises private funds for projects of strategic importance at Victoria.
Since it was established, the Foundation has paid out over $45 million for the benefit of the University—to advance knowledge and to disseminate and maintain that knowledge through teaching and research.
Today, it oversees an endowment portfolio of $34 million, which provides permanent support for academic positions, scholarships, and teaching and research programmes.
The Foundation is governed by an independent Board of Trustees, of which the Chancellor and Vice-Chancellor are members. The balance of the board is made up of Victoria University graduates and friends who are business and community leaders in Wellington.
The Friends of the Foundation offers additional expertise as required on the Foundation’s fundraising activities.
The administrative costs of the Foundation are met by the University, so all donated funds have maximum impact, directed to projects specified by donors.
The Board of Trustees is responsible for ensuring all donated funds are correctly managed, invested and disbursed. In the first instance, this role is carried out by Board Members on the Foundation’s Finance, Risk and Investment Committee, who receive monthly reports on funding for all projects.
On a day-to-day basis, the monitoring role is carried out by the Foundation’s Executive Director who ensures that donors’ objectives and expectations are met.
The Foundation provides accountability to donors and sponsors through:
- project reports
- project visits
- letters and reports from, and meetings with, student scholarship winners
- meetings with sponsored staff and academic project leaders
- audited annual accounts and the production of the Foundation's Annual Report
- monitoring formal agreements signed with donors and sponsors to ensure all terms are met.
The Foundation is a charitable trust registered with the New Zealand Charities Commission, registration number CC10288.