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Gloriavale trust's assets and profits up on last year


Gloriavale runs several farms and businesses, including honey production, trophy hunting, health food supplements and sphagnum moss.
The trust’s annual return says it owns the communal living facilities, operates a private school and three early childcare centres, along with 11 companies including Air West Coast Ltd, dairy, deer and sheep farms, midwifery services, a honey company, and an offal plant.
It does not pay its workers as employees and does not pay tax. The return says it has 40 volunteers working 1200 hours a year.
Its annual revenue was $18m – down from $20m in 2019. It reported a surplus of $2.78m, up almost $1m from $1.8m in 2019, and its net assets were $41m, up $2.8m from $38.3m in 2019. ....

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