Guest Speaker Review
Jonathan Usher 29 February 2024
Jonathan Usher 29 February 2024
Our club member and former District Governor, Jonathan Usher spoke to the club about his role with the J R McKenzie Trust. McKenzie’s stores opened in New Zealand in 1910 and by 1980 there were 75 stores nationwide. Sir John McKenzie was the founder and he believed that a business should share its prosperity with the public. So in 1938 he established the J. R. McKenzie Youth Education Trust and in 1940 the J. R. McKenzie Trust. The latter with the conation of the current equivalent of $5.5 million plus one third of the McKenzie’s stores annual profits.
The capital of the Trusts was enhanced over the years, and son Roy (also to be Sir Roy) donated the land on which the Outward Bound sits. Our Rotary club has been involved with the Youth Education Trust as one of our members (currently Grant Chirnside) is administrator of the regional fund which predominantly helps with the costs of school uniforms.
Dunedin Rotary appoints one trustee to the J R McKenzie Trust. Jonathan has been that appointee for the last ten years and Grant Chirnside is taking over that position this year. The Trust capital has now accumulated to $140 million and pays out $6 - $8 million per year. The policy is to pay out a small number of large amounts to really make an impact.
The capital of the Trusts was enhanced over the years, and son Roy (also to be Sir Roy) donated the land on which the Outward Bound sits. Our Rotary club has been involved with the Youth Education Trust as one of our members (currently Grant Chirnside) is administrator of the regional fund which predominantly helps with the costs of school uniforms.
Dunedin Rotary appoints one trustee to the J R McKenzie Trust. Jonathan has been that appointee for the last ten years and Grant Chirnside is taking over that position this year. The Trust capital has now accumulated to $140 million and pays out $6 - $8 million per year. The policy is to pay out a small number of large amounts to really make an impact.
The full transcript of Jonathan's talk can be downloaded here.
