Tauranga community groups have something to celebrate with news BayTrust will increase its grants by $10 million over the next five years.
The trust's strong recent financial performance will allow it to grant $25 million to local community groups over the next five years.
The new funds were announced at BayTrust's annual public meeting in Rotorua yesterday, where the Community Trust also revealed a new look and strategic direction.
Chief executive Alastair Rhodes said BayTrust's asset base had grown from $89 million when it was established in 1988 to $193 million as at the end of March 2015, with investment returns over 10 per cent being achieved in the past three years.
"The trust has recovered well from the Global Financial Crisis and as a result, trustees are planning to significantly increase BayTrust's granting in future years," Mr Rhodes said.
Last year 157 Bay of Plenty community organisations received grants from BayTrust to help cover their operational costs or fund other specific initiatives.
BayTrust has now distributed $60 million to community groups throughout the Bay of Plenty since it began, as well as providing other measures to support and build the capacity of local organisations.
Ensuring the "Bay of Plenty is the greatest place to be" is the organisation's new vision.