The Maurice and Phyllis Paykel Trust was established in 1973 by the late Mr. Maurice Paykel, philanthropist and co-founder of the Fisher and Paykel group of companies.
It is a charitable trust dedicated to the improvement of health through the support of research and sponsorship of research trainees in any of the health-related sciences.
The distribution of funds by the trust began in 1975. Grants-in-aid have been allocated each year since 1977, providing support to projects in a broad range of health fields. A scientific committee assists the Trust Board with the ranking and selection of projects for financial support.
In 1980 the trust was incorporated as a charitable body under the Charitable Trusts Act 1957.
PURPOSE OF THE TRUST
The Trust Deed authorises the trustees to use the funds of the trust at their discretion for the advancement of medical or paramedical science, including research and education. In practice, most expenditure is on research projects and the training of health research workers, including travel to scientific meetings and attendance at training courses.
The Maurice and Phyllis Paykel Trust was originally empowered to make a limited number of general charitable donations each year but it lost its ability to do this when its founder Maurice Paykel died in 2002. Since then, the sole function of the trust has been to support health research activities, as above.
It should be noted however that another trust was established by Mr Paykel to provide an independent source of funds for general charitable donations. This is a separate charitable body, incorporated in 1982 and known as the Maurice Paykel Charitable Trust. Further information about this trust is available on its website, http://www.paykelcharitabletrust.co.nz/.