The largest operator in the NZ childcare market is Best Start - https://best-start.org/community - they are a owned by a charitable trust.

I think might be some difficulties in competing in business as a company with shareholders needing a return against a charity. Best start used to be kiddi-corp which used to be ABC. ABC NZ was spun out of the receivership of ABC australia.

https://en.wikipedia.org/wiki/ABC_Learning

ABC was once the largest publicly listed child-care operator in the world. It had a market capitalisation of $4.1 billion. When its shares were suspended from trading at 54c, the company's worth was $296 million.[20]
An unexpected drop of 42 per cent in profit in the second half of 2007 to $37.1 million and its inability to service its $1.8 billion debt triggered a decline in the company's share price. Several directors of the company were then forced to dump millions of shares after receiving margin calls. The combined effects caused the share price to plummet 43% to $2.15 after trading as low as $1.15.[21] By the end of the selling, founder Edmund/Eddy Groves and his wife sold virtually all of their stakes of 20 million and 6 million shares respectively while director Martin Kemp unloaded 2.7 million shares. The combined Groves' stake represented 8 per cent of the company.[22]