Giardian Trust Distributes $80,000 to Dunedin Public Art Gallery Society for Frances Hodgkins purchase

GUARDIAN TRUST DISTRIBUTES $80,000 TO DUNEDIN PUBLIC ART GALLERY SOCIETY FOR FRANCES HODGKINS PURCHASE

A trust founded by a Dunedin man more than 30 years ago is demonstrating how important a well structured and managed charitable trust is to long-term sustainable philanthropic giving. Since 1988, nearly $260,000 has been distributed from the I M Richdale Trust, which is managed by Guardian Trust, for purchases of artworks by the Dunedin Public Art Gallery Society. The latest distribution, of $80,000, has been used to acquire a Frances Hodgkins painting, a portrait titled The Farmer’s Daughter, for the gallery.

Dunedin-born Frances Hodgkins is New Zealand’s most significant artist of the first half of the 20th century, and is internationally regarded as an artist of renown. The portrait was given to its subject, Annie Coggan, by Hodgkins, and has remained in the Coggan family until now.

The Dunedin Public Art Gallery, founded in 1884 by Hodgkins’ father William Mathew Hodgkins, has made a point of collecting works by Frances Hodgkins since at least 1913.

The I M Richdale charitable trust was created by the Will of Henry Richdale, with a specification that a portion of the annual income be given to the Dunedin Public Art Gallery for purchases of a non-contemporary nature.

Guardian Trust Client Manager Mark Wilkinson said the distribution highlighted how enduring giving is possible when facilitated with a charitable trust.

“Since 1988, the I M Richdale Trust has made 10 purchases from distributions totaling nearly $260,000, with the latest Hodgkins painting the most valuable to date. The objective of managing a charitable trust is to grow the funds year-on-year to permit regular distributions in support of the chosen cause or causes, and this case demonstrates what a well-managed trust can achieve over many years. This charitable trust has special benefit in particular for New Zealand art, for the people of Dunedin and for all visitors to the gallery, who are able to enjoy the results of Mr Richdale’s foresight and generosity.”

Tim Pollock, Marketing Manager for the Dunedin Public Art Gallery, says, “The gallery is particularly pleased to add this beautiful artwork to its permanent collection during its 125th anniversary year. It was also sought by The Tate in London, which reflects the esteem in which Frances Hodgkins’ work is held.

“This portrait is a tremendous acquisition for us, for several reasons: it is a very good example of its type, and works of this quality and subject, and with such a sound and personal provenance, are seldom available on the market. As well, the acquisition not only fills a gap in the Hodgkins’ collection but also ties in with other collection strengths, such as our holdings of European portraiture.”