Governance

The Marram Community Trust is a not-for-profit organisation governed by a Trust Deed and Board of Trustees. It’s a registered charitable trust in terms of the Charitable Trusts Act 1957, but isn’t a registered charity in terms of the Charities Act 2005, so it doesn’t qualify for tax exemption.

Funding

The initial funding to establish the holiday homes network came from war bond fees. When this option was depleted, funding came from regular contributions by Post Office employees.

Today, Marram is funded by the holiday home rentals, contributions and income from investments.

The funding provides money to reimburse healthcare expenses, heavily subsidise the rental cost of the holiday homes and maintain the homes. Any excess is retained in the Trust.

The Trust Board

A minimum of seven members of the Trust Board come from Affiliated Organisations, as determined by the Trust Deed.

Three Employer Trustees are nominated by the three Affiliated Organisations that succeeded the Post Office: New Zealand Post, Spark New Zealand and ANZ Bank New Zealand.

Three Appointed Trustees are nominated from any of the Affiliated Organisations.

The Board may also appoint Additional Trustees from time-to-time to provide expertise and ensure that the Board has at least seven members.

The Chairperson of the Marram Community Trust Board is always the person in charge of the personnel functions of Spark New Zealand.

The Board establishes and promotes the Trust’s business and charitable objectives.

It also oversees the Trust’s business affairs and integrity, works with the CEO to determine the Trust’s vision and long-term strategy, appoints the CEO and performs an evaluation, oversees internal controls over financial reporting and assesses risks and strategies for risk mitigation