TPT Wealth has announced two major grants of more than $300,000 each to support Tasmanian marine conservation and the refurbishment of the St Ann’s Nursing Home in Hobart.
The grants come from the Princess Melikoff Trust, administered by TPT Wealth, with the Department of Primary Industry, Parks, Water and Environment (DPIPWE) and Respect Aged Care both receiving $326,080.60 as equal shares of the Trust net annual income for 2019 – 2020.
The funds will be used by DPIPWE to continue the Princess Melikoff Trust Marine Mammal Conservation Program that includes the 24-hour state-wide marine mammal stranding hotline as well as student education and public awareness initiatives to support marine mammals in Tasmania. The program played a key role in assisting the recent whale stranding in Macquarie Harbour.
Respect Aged Care will use the funds to continue its ongoing refurbishment program at the St Ann’s Davey Street facility in Hobart.
The Trust was established on the death of the former Pauline Curran of Hobart in January 1988.
Pauline became engaged to Prince Maximilian Melikoff, a Russian Prince in January 1925. The couple was subsequently married at Hobart’s St David’s Cathedral on 20 January 1926 and following the marriage, lived in Europe and the United Kingdom.
On her death, the widowed Princess Melikoff did not leave any children. In her will, she created a perpetual Discretionary Charitable Trust with her significant estate, appointing TPT Wealth to manage this Trust. The current Beneficiaries of the Charitable Trust are St Ann’s Elder Care facility in Davey Street, Hobart and the Department of Primary Industries, Parks, Water and Environment’s Marine Conservation Program.
Craig Mowll, General Manager TPT Wealth said Princess Melikoff’s interest in St Ann’s was a result of family connections to the facility and her love of animals resulted in her ongoing support of animal protection programs.
“Apart from the administration of the charitable Trust, TPT Wealth’s role is to also prudently manage the investment of the residuary estate to generate income over time for the benefit of the two beneficiaries.
“This prudent administration and investment strategy has seen the Trust’s capital value continue to grow, ensuring that Princess Melikoff’s legacy will continue to assist Tasmanians and Tasmanian ideals well into the future,” Mr Mowll said.