Introduction

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What’s this all about?

Trust Horizon, (a charitable Trust) which you might remember as the Eastern Bay Energy Trust (EBET), wants to change its rules — officially called its “Trust Deed.”

Right now, the Trust can only fund things that are directly related to energy.

That’s a bit limiting, especially when the community’s needs and wellbeing go way beyond just energy. So, the Trust plans to ask Parliament to approve a Private Bill that would let it support a much wider range of community projects and groups — not just those about energy.

Why now?

In the last 30 years, Trust Horizon has built up more than $200 million in assets, and been able to grant $50 million — or an average of $1.7 million each year.

Other trusts have been able to fund a lot more — like the Rotorua Trust, which has given out $130 million. This is partly because they aren’t restricted to only funding energy-related grants.

Because Trust Horizon’s rules are so narrow, it hasn’t been able to give out as much funding as it could. In fact, the amount of money it gives out each year hasn’t really grown much, even though the community has. By removing the restriction to “energy-related purposes,” the Trustees believe they could achieve a whole lot more.

What’s the benefit to the community?

If the Bill passes, the Trust will be able to fund a far wider range of projects. That means more support for local groups, charities, and initiatives that are doing good work in our Eastern Bay of Plenty Districts – Whakatāne, Kawerau, Ōpōtiki, and Kaingaroa Village.

The Trustees believe this will help them better serve our region that is facing some real socioeconomic challenges.

What’s changing?

There are two main changes in the proposed Private Bill:

Broader Charitable Purposes: Instead of being limited to energy-related projects, the Trust wants to support anything that’s considered charitable under New Zealand law — like education, poverty relief, or anything else that benefits the community.
Future Flexibility: The Trust wants to change the rules so that future updates to the Trust Deed can be made with the approval of the High Court, rather than needing another Act of Parliament. This would make it easier to keep the Trust relevant and responsive over time.

Are there any downsides to these changes?

Great question — and it’s one the Trustees have thought about, too. Trust Horizon’s Trustees don’t see any risks or downsides to the changes proposed. They believe the amendments will simply give them more flexibility to support a broader range of community needs, while still allowing them to fund energy-related projects if they choose.

That said, here are a few likely impacts of the changes.

Wider scope = more decisions: With broader charitable purposes, the Trust might receive more funding requests from a wider range of groups. That could make it harder to decide who gets what.
Community expectations: Once the Trust opens the door to non-energy projects, people might expect more funding for all sorts of causes. Managing those expectations will be important and Trustees have identified priority funding areas to assist with decision-making.
Future-proofing: The proposal includes a new clause that allows future changes to the Trust Deed with High Court approval. This a good safeguard, but it also means future Trustees will need to be thoughtful and transparent about any further changes.

Overall, the proposal is designed to let Trust Horizon bring more positive change to the community, and the Trustees are inviting feedback to make sure they’ve got it right.