Why half a million and beyond this Giving Day? | The mathematics of scholarships

Going for half a million and beyond – 2023 Giving Day

Funds to perpetually establish the Suli Niulala Memorial Scholarship

Trinity held its second ever Giving Day on 1 June 2023.

Last year, the School community was able to raise over $450,000, significantly surpassing the goal set for the day. This year, we’re hoping to smash that record, to raise upwards of $500,000.

Every dollar raised will be contributed to the Suli Niulala Memorial Scholarship, which will be provided to a disadvantaged Indigenous or Pacific Island boy, who has the potential to make the most of a Trinity education.

Building on a foundation of success

“Raising $500,000 this Giving Day is a wonderful establishment step,” explained Headmaster, Tim Bowden. “Our longer-term goal is to reach $1 million for the Suli Niulala Memorial Scholarship because that amount will ensure the scholarship lasts into perpetuity, truly honouring our colleague’s legacy.”

It’s mathematical. Assuming a 7% return over time on a million dollars, half of that return would fund the scholarship, and the other half is reinvested, which preserves the capital and ensures the scholarship lasts into perpetuity. The magic of compound interest means that a million dollars will ensure there will be a boy on the Suli scholarship in the School somewhere in Years 7-12 ongoing into the future.

Mrs Debbie Niulala knows that the scholarship named after her late husband has the power to change lives.

“We are so excited that we could be able to give a boy – at least one boy – an opportunity to come to Trinity every year, forever. How wonderful would that be? If that’s even possible to be able to do, we have to go for it, we’ve just got to go for it.

“It’s wonderful that the scholarship has Suli’s name on it, but it’s just so important that we can give families from all walks of life this opportunity.”