Philanthropy New Zealand says many community trusts will continue to reduce community donations, despite confidence returning to the investment market.
In March, the ASB Community Trust put its grants budget on hold because of a drop in its investment funds.
Chief executive Jennifer Gill says investments have grown since then, so the trust will give $23.7 million to the community by next March. But that is down by almost $10 million from last year.
She says the trust will not dip into a $789 million reserve fund, because that is an investment for the future.
Philanthropy NZ executive director Robyn Scott says other trusts will also scale back their donations. She says the amount given could be halved.
