Dear Burnett Foundation Aotearoa Community,

As stewards of our shared vision, the Board of Burnett Foundation Aotearoa is committed to ensuring the effectiveness, sustainability, and integrity of our Foundation. In this spirit, we wish to share an important decision aimed at strengthening our governance and enhancing our capacity to fulfill our mission.

After thorough consideration and benchmarking against current best practices in the not-for-profit sector, the Board has decided to introduce a policy of remuneration for board members. This decision is informed by a comprehensive review and consultation process over the past 18 months, reflecting our commitment to transparency, accountability, and excellence in leadership.

The introduction of board remuneration is driven by several key considerations:

• Recognition of Commitment: Our board members contribute significant time, expertise, and leadership, guiding strategic decisions, ensuring financial health, and advocating for our cause. Remuneration acknowledges their invaluable commitment and the professional responsibilities they undertake on behalf of the Foundation.
• Equal Opportunities: We recognise that not all individuals can afford to volunteer their time without compensation, especially when such commitment might preclude them from paid employment. By introducing remuneration, we aim to remove financial barriers to board participation, ensuring equal accessibility and enabling a more diverse range of individuals to contribute their expertise to our governance.
• Attracting and Retaining Talent: To continue our growth and impact, it is crucial that we attract and retain leaders with the necessary skills and dedication. A remuneration policy supports this goal, ensuring our board remains competitive and capable of driving forward our strategic vision.
• Sustainability and Professionalism: Aligning our governance practices with sector benchmarks enhances our operational effectiveness and long-term sustainability. This step is a testament to our maturity as an organisation and our aspiration towards the highest standards of governance.

To complement this policy, we are also introducing a Give-Back Policy. This allows board members who wish to do so to redirect their remuneration back to the Foundation, further supporting our mission.

Separately to this, we have developed a Governance of Board Remuneration Changes policy that manages the way in which this remuneration is implemented and changed in the future, which ensures that the amounts paid are guided by the Institute of Director’s fee indicator, and that the amount can be changed as required to ensure operational requirements aren’t impacted adversely.

We believe these changes are in the best interest of the Foundation and all those we serve. They reflect our collective commitment to fostering an inclusive, effective, and visionary board leadership.

We welcome any questions or feedback you may have regarding this update. Please feel free to reach out to any member of the board for further discussion.