NWEET is a statutory Board with Charitable Trust status. This endowment was established in 1880 by the iwi of Ngati Whakaue through the gifting of land for the purposes of secondary education in Rotorua. In October 1995, through a Crown/Iwi settlement process the Reserves and other Lands and Disposal Act 1995 vested all the assets of the former Rotorua High Schools Board in the Endowment Board and the composition of the Board and purpose of the Endowment were amended to give Ngati Whakaue control and to apply its funds for the 'general purposes of education'.
Board members are appointed - 6 by the trustees of Pukeroa Oruawhata Trust (Ahu Whenua Trust) and 5 by the 5 Rotorua High School Boards of Trustees.
Income is generated from 94 perpetual ground leases contained in the land bounded by Amohau Street, Ranolf Street, Eruera Street and the lake edge in Rotorua, and from interest and dividends generated from an investment portfolio accumulated since 1995. In the year ended 31 December 2020 NWEET distributed education grants totalling $1,538,731 and the net value of its assets at that date was $74,959,351.
Mission Statement
The Board's mission is: "To enhance the legacy of Ngati Whakaue Tupuna by
- The responsible and effective management of the endowment and
- The provision of financial support to the beneficiaries of the Trust for Education purposes, that add value and benefit to our community"