The purpose of the Foundation is to assist in funding expenses of amateur New Zealand sailors competing in top level international yachting competitions.
The founders believed that if New Zealand is to maintain its place as one of the top yachting nations in the world it is essential that our sailors have adequate opportunity to compete successfully in international championships. As New Zealand is very remote geographically from traditional centres of competition, the high cost of travel and transport and ever increasing campaign costs at times place our sailors at a considerable competitive and financial disadvantage to those in most other leading sailing nations.
If you are intending to compete in an international competition, you are not a professional sailor and you need financial assistance, you may be eligible for a grant by the Foundation to assist you.
When the Foundation was established in 1988 it had a combined fund of a little over $700,000, much of which resulted from the generosity of a number of the contributors and sponsors of the three original trusts that were combined to form The New Zealand International Yachting Trust, renamed in 2017 to the NZL Sailing Foundation.
Since the establishment of the Foundation, its capital fund has increased significantly, and now stands at more than $3.8 million, after making grants totalling over $2.4 million.
Under its Trust Deed, the Foundation is only permitted to make grants from current income and it may not distribute any part of the capital of the fund. The Foundation will endeavour to continue building the fund so as to generate sufficient income from investments to meet its objectives year by year.
The Foundation therefore seeks donations or other contributions to its capital fund, as well as other forms of financial support, to assist it in achieving its objectives.
If you wish to assist the Foundation by making a gift or leaving a legacy to the Foundation, your support will be greatly appreciated. Please contact the Secretary for further information.