Summary Performance Report 2026
Royal New Zealand Foundation of the Blind
Produced 2026 by Accessible Formats Service, Blind Low Vision NZ, Auckland.
Contents
Board Statement Pages 2-3
Statement of service performance Pages 4-10
Financial Review Page 11
Financial Statements
Statement of comprehensive revenue and expense Page 12
Statement of financial position Pages 13-14
Statement of changes in net assets/equity Page 14
Statement of cash flows Page 15
Transcriber's Note
If reading this etext on a portable braille device, please note that it is unproofed by touch.
Pages 2-3
Board Statement
The Board of the Royal New Zealand Foundation of the Blind are pleased to present to members the Performance Report of the Royal New Zealand Foundation of the Blind (the "Controlling Entity" or "Blind Low Vision NZ") and its subsidiaries (the "Group" or "RNZFB") for the year ended 30 June 2026.
The Board are responsible for presenting the Performance Report for the year ended 30 June 2026 in accordance with the constitution of the Royal New Zealand Foundation of the Blind and generally accepted accounting practice, which present fairly the service performance, financial position, operations and cashflows of the Group.
The Board consider the Performance Report of the Group has been prepared using appropriate accounting policies which have been consistently applied and supported by reasonable judgements and estimates and that all relevant Performance Reporting and accounting standards have been followed.
The Board believe that proper accounting records have been kept which enable with reasonable accuracy, the determination of the financial position of the Group and facilitate compliance of the Performance Report with the constitution of the Royal New Zealand Foundation of the Blind.
The Board consider that they have taken adequate steps to safeguard the assets of the Group, and prevent and detect fraud and other irregularities. Internal control procedures are also considered to be sufficient to provide reasonable assurance as to the integrity and reliability of the Performance Report.
This Performance Report is signed on behalf of the Board by:
Ms Donna McCaskill Chair of the Board
Mr Richard Patete Chair of the Audit Committee 
19 September 2026
Page 4
Statement of Service Performance for the Year ended 30 June 2026
The Royal New Zealand Foundation of the Blind Group comprises of Blind Low Vision NZ as the primary service provider and Controlling Entity, together with other entities under its control—principally Foundation Properties Limited, which manages the Group's investment properties and oversees its investment in the retirement village joint venture.
Blind Low Vision NZ is here to empower people who are blind, deafblind or have low vision to shape their own lives. We offer guidance and support so that people can make informed decisions about their day-to-day lives. Our focus is on supporting choice, confidence and independence.
The purpose that brings us together and the priorities that guide our work are outlined on print page 6.
Over the past year, we've continued to refine how we measure success and improve the quality of our data. This helps us better understand what's working and how we can keep improving.
We're proud of the progress we've made this year in making our services more welcoming, visible, and easy to access. From the very first contact, we've shifted to a more client friendly welcome process, giving people the information they need, in the format that suits them best, whether that's email, SMS, or large print. It's a small but important step towards greater accessibility, helping clients feel supported from day one.
We've also been building stronger relationships with eye health professionals so that more people with significant vision needs connect with Blind Low Vision NZ at the right time. Our presence at key industry events has helped raise awareness and trust, contributing to a steady stream of regular referrers. Behind the scenes, we've tightened up our data systems so we can report on our impact with greater clarity and accuracy.
Blind Low Vision NZ's approach is grounded in the Enabling Good Lives principles, which means our clients are at the centre of everything we do. Support is flexible and tailored to each person's goals, preferences and aspirations. Recreation activities have been a key entry point for many clients, especially those hesitant to engage. These activities often lead to deeper involvement, with people going on to access full rehabilitation programmes. By focusing on meaningful partnerships, choice and trust, we've helped build confidence, independence and stronger connections.
Page 5
This years Library activities included a continued focus on introducing new content, helping to strengthen the Library's offering and encourage ongoing client engagement.
Policy and Advocacy has transitioned its campaigns organising practices to a community organising model. This approach amplifies our advocacy for systemic change, utilizing the narrative, voice, and lived experience of our clients, ensuring a person-centred approach.
Policy and Advocacy has delivered on the first Integrated Data Infrastructure (IDI) report looking solely at the life outcome statistics for people who are blind, deafblind, and low vision. This piece of work provides evidence that verifies the stories of Blind Low Vision NZ clients and the systemic barriers they face every day. This report is provided in a number of different accessible formats on the Blind Low Vision NZ website.
On 22 October 2025, Hon Louise Upston, Minister for Disability Issues, hosted the BLVNZ Digital Accessibility Breakfast in the Legislative Council Chamber at Parliament. The theme of the event was "Accessing the Essentials: Digital Accessibility". Guests in the room heard from Minister Upston about the importance of digital accessibility and the Minister emphasised that it is a priority for the government. Blind Low Vision NZ CEO, Andrea Midgen, challenged the government to implement accessibility in all government agencies and crown-owned entities. Guests who attended the event included politicians, ministerial staff, public sen/ants from Department of Internal Affairs (DIA) and Social Investment Agency (SIA), the CEO of Whaikaha, data experts, major banks, university professors, and leaders from the tech sector. As a result of this breakfast, Policy and Advocacy have built strong relationships with the DIA and Westpac, which has opened doors such as the possibility of BLVNZ being included in the new Digital ID Trust Framework.
We hosted the main launch event for the IDI report, Shining a Light on Blindness, in Auckland. Deputy Prime Minister, Hon David Seymour, Labour's Hon Priyanca Radhakrishnan, and the Green Party's Ricardo Menendez March, alt spoke about the importance of evidence in creating and implementing policies for disabled people. A smaller community launch was held in Wellington supporting an ongoing conversation for creating positive changes for blind, deaf blind and low vision people.
The proposed changes to the Total Mobility scheme created an opportunity for Policy and Advocacy to apply our new organising strategy. This resulted in clients, staff, and community members doing their own submissions on the proposed changes. This activity was elevated with a Day of Action on 10 June where over 500 people either called or emailed the Minister of Disability Issues, Hon Louise Upston, asking her to intervene and reverse the subsidy reduction.
Page 6
Mission Statement
Empower New Zealanders who are blind, deafblind, or low vision to live the life they choose.
Our Purpose
Our purpose is to connect, educate, equip and support New Zealanders who are blind, deafblind, or have low vision to be independent and self-reliant and do the things they need and want to in life. As welt as supporting individuals, Blind Low Vision NZ seeks to make big picture change by advocating for inclusive communities and for optimal eye care services for all New Zealanders.
Our Values
Person Centred: People are at the heart of everything we do and we are led by their needs. We design services that meet people's needs now and in the future.
Collaborative: We believe that to make change happen, we need to bring people, ideas and resources together in new combinations. Partnerships and teamwork are fundamental to our success and we co-design through effective engagement and collaboration.
Adaptable: We acknowledge the world around us is changing and that we need to change by innovating and applying creative solutions to move forward. We are resourceful in response to this change.
Accountable: We deliver on our promise and hold ourselves responsible. We are honest, candid, transparent and respectful in all aspects of our work, applying good judgement for effective decision-making.
Our Key Priorities
Empower Independence: People who are blind, deafblind or have low vision have choices about how they live their lives as independent citizens in their communities.
Train and Educate: Empower people who are blind, deafblind or have low vision with the information, advice and tools to thrive through lifelong learning opportunities.
Social Inclusion: People who are blind, deafblind or have low vision are included in society and have choices as to how to actively participate.
For Purpose: People centered, knowledge based, adaptable and drives change.
Page 7
Independence
How we will deliver:
Empower people through on-going support services including information, mobility, equipment, and recreation, to realise their potential as citizens. Connect people with technology that is accessible and affordable, so they are future ready.
Our Objectives
Improve focus and priority to the provision of core daily living skills to enhance independence.
The Library saw a modest increase in the number of clients using EasyReader and Alexa in FY26, partly reflecting the retirement of BookLink web and the transition of users to these newer platforms.
This year has seen a continuation to strengthen the fundamentals of the Guide Dog programme. We are reviewing and refreshing our breeding plan. With a focus on developing reciprocal relationships with other service dog schools, we have purchased four puppies and a brood to improve our breeding lines. The new puppies brought our total puppies to 70 (2025:66) and there are 168 (2025:148) teams working across the country. A production schedule has been developed to assist with planning and resource allocation across all components of the journey to produce guide dogs. We continue to aim for increased success rates for delivering guide dogs to meet the support needs of our community.
Measures
Table:
TN: Information from the tables on print pages 7-10 is listed in this order: Indicator: 2026; 2025 (unaudited). Any footnotes are at the end of each list. End TN.
Number of clients accessing technology programme offerings. (Alexa Skill and EasyReader app reporting): 2,308; 2,215
Number of puppies produced on an annual basis via the breeding programme.: 70; 66
Number of active working dogs.: 168; 148
End Table.
Page 8
Train And Educate
How we will deliver:
Core rehabilitation/habilitation services as the cornerstone of what we do and provide, including an emphasis on youth transition programs towards acquiring the skills of job readiness, preparation, and employment choices.
Our Objectives
The ratio of the number of clients receiving services out of total membership may reflect a reduction in the number of new clients and clients becoming more independent.
Continued emphasis on the development and implementation of "refreshed" employment, youth transition, emotional support, and deafblind programmes. Implement a refreshed focus on the provision of sport, leisure, and recreational programme opportunities for clients.
The Youth Pathways services for clients 16 to 21 years of age has increased by 107% on last year. This large increase in engagement for this service can be explained by, increased promotional exposure for the Oppenheim Trust on social media, webinars and emails. This is a fund which is available to BLVNZ clients studying at a tertiary level. Applications open in September each year and run through until the middle of January. There was a noticeable increase in youth client engagement with the Work Ready services during November 2025 through to January 2026, seeking information and support with the application process. An outbound Youth Reconnection Project commenced in March 2026, where direct contact was made over four months to 731 clients between the ages of 16 and 25 years of age. Many of the client were not aware of the services and support available through BLVNZ and as such this outreach resulted in additional service requests around employment and youth pathways. Please note that the project ran into FY27, as such we expect an increase in youth engagement for the Employment and Youth Pathways program during the first quarter of FY27.
The over 21 years group indicate a consistent level of engagement for clients with the Employment and Youth Pathways service. Promotional channels such as client emails, online webinars, information in the Korero client newsletter and PSP referrals continue to be the main avenues of engagement for this cohort.
Measures
Table:
Ratio of the number of clients accessing our services out of total membership.: 38%; 41%
Number of clients we have supported via our employment and youth transition programmes aged 16-21 years.: 56; 27
Number of clients we have supported via our employment and youth transition programmes aged 22-65 years.: 170; 169.
End Table.
Page 9
Social Inclusion
How we will deliver:
Enhance the opportunities for people who are blind, deafblind or have low vision by promoting the principle of society being fully inclusive. Encourage access for all to public services, information, and the physical environment. Increase awareness and public education. Collaborate with consumer organisations to achieve measurable impact.
Our Objectives
We have widened our reach through partnerships and third-party providers, allowing us to connect with and provide services to more people, across more of the country, especially those in rural parts of Aotearoa.
As well as the continued stream of new clients coming into services, this year we have focussed on reconnecting with clients who have not engaged with us for over 12 months to ensure everyone is accessing the support: they need. This has resulted in over 355 people returning to us for further service. Our services continue to offer a holistic approach to support and rehabilitation from counselling, participation in social activities and sports, right through to specialised orientation and mobility and technology support. To help us ensure our services reflect what is important for our clients, we have established a Client Reference Group. This newly formed group will work with the Board at a strategic level to ensure our services remain relevant.
We seek to extend the current SSP indicator to include other measurable data such as meetings with and letters written to Ministers, Members of Parliament, Local Government, heads of departments, and public servants to better capture the true impact of the lobbying and advocacy work we do. adoption and implementation of Accessibility Legislation for New Zealand.
Measures
Table:
Total number of new clients registered for the year.: 1,738; 1,758
Submissions on issues important to people who are blind, deafblind or have low vision.: 22; 18
End Table.
Page 10
For Purpose
How we will deliver:
Hold ourselves accountable to deliver the most cost effective and sustainable ways of working, including maximising the digital world to drive our decision-making. Inspire a diverse workforce with a culture of accountability, performance, and recognition.
Our Objectives
Create and cultivate an organisational culture which promotes well-being and where our community embraces the values of person centred, collaborative, adaptable and accountable.
On-going emphasis on the diversification of the revenue streams to support the operations of the organisation.
Measures
Table:
Number of employees who are blind or have low vision.: 31; 30
Total expenses as a percentage of budgeted expenses for the year. (See Footnote 1): 94.0% 92.8%
Total cash donations and bequests received.: $24,699,544; $32,574,313
Percentage of net operating cash inflows generated from RNZFB property portfolio made available for charitable purposes. (See Footnote 2): 81.9%; 89.9%
End Table.
Footnote 1: Controlling entity only. This excludes expenses incurred by our subsidiaries and the retirement village joint venture which are predominantly related to our property portfolio.
Footnote 2: Based on the net operating cash inflows of our property portfolio included in Foundation Properties Limited.
Page 11
Financial Review
The financial year ending 30 June 2026 was a positive one for the Royal New Zealand Foundation of the Blind (RNZFB) and its subsidiaries. The RNZFB Group results include Blind Low Vision NZ (BLVNZ) the service provider combined with other entities controlled by the RNZFB Group, primarily Foundation Properties Limited, which manages investment properties owned by the RNZFB Group and oversees the groups investment in the retirement village joint venture.
RNZFB Group operating revenue was $36.1 million, a decrease of $9.5m on the previous financial year. Total operating revenue for Blind Low Vision NZ was $29.9m, a decrease of $10.5m on the previous year. Lower legacy income was the main factor driving the lower revenues of both the Group and BLVNZ. The difference between Group Income and BLVNZ income is largely the rental income generated from the investment properties Foundation Properties Limited own in Parnell, Auckland.
This financial year the RNZFB Group recorded a $1.9m deficit before interest, dividend, revaluations and gains on sale of property compared to a $12.Om surplus the previous financial year. The lower operating result was due to lower income and higher costs. Lower income was due to lower legacy income. Higher costs were primarily due to personnel costs and inflationary pressures across a number of other costs.
The RNZFB Group recorded a $0.3m decrease in the value of investment properties resulting from a decrease in property valuations reflecting current market conditions. This compares to a $3.2m increase in the previous financial year. During FY26 the value of RNZFB's long term investment portfolio increased $7.7m compared to an increase of $4.3m recorded in FY25. This was due to a continuation of increases in the value of stocks and bonds that the RNZFB hold through Mercer on our behalf.
Both the investment properties and bonds and investment assets are held by the RNZFB Group to ensure financial sustainability and to generate income over the long term. Total RNZFB Group comprehensive revenue and expense surplus was $41.8m, compared to $17.4m surplus recorded the previous year. The accounting surplus was significantly impacted by fair value gains on bonds and investments and the share of the gain generated from our joint venture, whereas last years accounting surplus was significantly impacted due to fundraising income, the gain on bonds and investments, gains on investment property and the share of the loss generated from our joint venture.
Both the RNZFB and BLVNZ remain very dependent on charitable giving, which provides around 75% of BLVNZ's operating income and 62% of the RNZFB Group income. Competition for the donor dollar remains incredibly high, and we are hugely grateful to our supporters who give generously to help provide essential services to New Zealanders who are blind or have low vision.
Stephen Keeling Chief Financial Officer
Pages 12-13
Statement of comprehensive revenue and expense for the year ended 30 June 2026
Table:
Item
Group 2026 $000s
Group 2025 $000s
Controlling Entity 2026 $000s
Controlling Entity 2025 $000s
Revenue
blank
blank
blank
blank
Revenue from non-exchange transaction
22,396
32,844
22,396
32,844
Revenue from exchange transactions
13,698
12,763
7,552
7,566
Total operating revenue
36,094
45,607
29,948
40,410
Expenses
blank
blank
blank
blank
Independence
16,787
16,894
16,935
16,939
Educate and Equip
3,130
2,604
3,147
2,604
Social Inclusion
3,073
1,994
3,100
1,991
For Purpose Organisation
6,054
5,061
5,903
4,902
Grants
948
688
948
688
Fundraising
7,578
6,055
7,578
6,055
Governance
399
345
399
345
Total expenses
37,969
33,641
38,010
33,524
Surplus/(Deficit) before interest, dividends, revaluations and gains on sale of property
(1,875)
11,966
(8,062)
6,886
Finance income
282
233
265
200
Fair value gain on bonds, investments and other financial assets
7,746
4,297
7,709
4,297
Dividend received from Foundation Properties Limited
-
-
4,200
4,000
Finance expenses
(517)
(674)
-
-
Surplus before property and related investee gains/(losses)
5,636
15,822
4,112
15,383
Exchange rate variance on revaluation of investment property
306
772
306
772
Fair value (loss)/gain on investment property
(304)
3,225
(16)
(159)
Gain on sale of property
-
804
-
804
Gain on sale of investment property
-
66
-
66
Share of equity accounted investees (loss) for the year
36,118
(3,338)
-
-
Total comprehensive revenue and expense for the year
41,756
17,351
4,402
16,866
End of Table.
Pages 13-14
Statement of financial position as at 30 June 2026
Table:
Item
Group 2026 $000s
Group 2025 $000s
Controlling Entity 2026 $000s
Controlling Entity 2025 $000s
Current assets
blank
blank
blank
blank
Cash and cash equivalents
4,265
5,425
4,189
4,189
Term investments
3,270
7,280
3,270
7,280
Trade and other receivables (from exchange transactions)
1,836
1,926
822
1,226
Recoverables (from non-exchange transactions)
955
3,217
955
3,217
Advance to related party
250
250
1,913
-
Inventories
77
33
77
33
Total current assets
10,653
18,111
10,372
15,925
Non-current assets
Blank
Blank
Blank
blank
Recoverables (from non-exchange transactions)
909
1,218
909
1,218
Bonds, investments and other financial assets
62,024
51,265
59,975
51,265
Property, plant and equipment
42,359
38,078
29,045
27,475
Intangible assets
430
485
430
485
Biological assets
91
87
91
87
Investment property
119,182
119,985
7,840
7,591
Investment in Joint Venture
60,660
24,542
-
-
Investment in controlled entities
-
-
54,605
54,605
Total non-current assets
285,655
235,661
152,895
142,727
Total Assets
296,308
253,772
163,267
158,652
Current liabilities
blank
blank
blank
blank
Trade and other payables (from exchange transactions)
2,039
1,997
1,731
1,738
Other liabilities (from non-exchange transactions)
2,372
2,345
2,372
2,345
Bank loan
1,500
1,000
-
-
Advances from controlled entities
-
-
-
-
Land lease income received in advance
82
82
-
-
Employee benefits and obligations
2,272
1,970
2,272
1,970
Total current liabilities
8,265
7,394
6,375
6,153
Non-current liabilities
blank
blank
blank
blank
Bank loan
9,900
9,900
-
-
Land lease income received in advance
8,115
8,197
-
-
Employee benefits and obligations
66
75
66
75
Total non-current liabilities
18,081
18,172
66
75
Total Liabilities
26,346
25,566
6,441
6,228
Total Net Assets
269,962
228,206
156,826
152,424
Equity
269,962
228,206
156,826
152,424
Total Net equity
269,962
228,206
156,826
152,424
End Table.
Statement of changes in net assets/equity for the year ended 30 June 2026
Table:
Item
Group 2026 $000s
Group 2025 $000s
Controlling Entity 2026 $000s
Controlling Entity 2025 $000s
Balance of net assets/equity at 1 July
228,206
210,855
152,424
135,558
Total comprehensive revenue and expense for the year
41,756 
17,351
4,402
16,866
Balance of net assets/equity at 30 June
269,962
228,206
156,826
152,424
End Table.
Page 15
Statement of cash flow for the year ended 30 June 2026
Table:
Item
Group 2026 $000s
Group 2025 $000s
Controlling Entity 2026 $000s
Controlling Entity 2025 $000s
Cash flows from operating activities
blank
blank
blank
blank
Cash was received from:
blank
blank
blank
blank
Non exchange transactions
24,700
32,574
4,700
32,574
Exchange transactions
13,043
12,370
7,862
7,358
Cash was applied to:
blank
blank
blank
blank
Payments to employees
(19,462)
(18,263)
(19,362)
(18,163)
Payments to suppliers
(16,243)
(14,503)
(16,791)
(14,686)
Payments of grants
(1,128)
(779)
(1,128)
(779)
Finance expense
(517)
(674)
-
-
Net cash inflows/(outflows) from operating activities
393
10,725
(4,719)
6,304
Cash flows from investing activities
blank
blank
blank
blank
Interest income
292
243
279
214
Acquisition of short-term investment term deposit
(9,270)
(13,280)
(9,270)
(13,280)
Proceeds of short-term investment term deposit
13,280
10,000
13,280
10,000
Dividend received from controlled entity
-
-
4,200
4,000
Purchase of bonds, investments and other financial assets
(3,013)
(1,000)
(1,000)
(1,000)
Other Investment Income
482
-
-
-
Contribution to controlled entity
-
-
(2,013)
(427)
Proceeds from sale of property, plant and equipment
137
842
137
842
Purchase of property, plant and equipment
(2,133)
(5,718)
(1,655)
(5,718)
Purchase of intangible assets
(93)
(200)
(93)
(200)
Net proceeds for the sale of Investment Property
-
426
-
426
Additions to investment property
(1,735)
(1,794)
-
-
Net cash (outflows)/inflows from investing activities
(2,053)
(10,481)
3,865
(5,143)
Cash flows from financing activities
blank
blank
blank
blank
Proceeds from ASB loan
500
1,000
-
-
Net cash inflows/(outflows) from financing activities
500
1,000
-
-
Net (decrease)/increase in cash and cash equivalents
(1,160)
1,244
(854)
1,161
Cash and cash equivalents at the beginning of the year
5,425
4,181
4,189
3,028
Cash and cash equivalents at the end of the year
4,265
5,425
3,335
4,189
End Table.
End of Summary Performance Report 2026