The Foundation has as its mandate the building of a permanent endowment fund overseen by an independent Board of Directors elected by members or appointed by Rugby Canada. The primary emphasis of fundraising will be to build endowment funds, the income from which will be used to develop rugby in Canada. Rugby Canada endorses this mandate.
The activities of the Board include, but are not limited to, the following:
- articulating the operating principles of the Foundation (vision, mission, grant-making practices);
- approving investment policy;
- approving annual budget;
- appointing Foundation executive officers and staff;
- appointing auditors.
Up to 18 people may sit on the Canadian Rugby Foundation’s Board of Directors. Two are appointed by Rugby Canada; 10 are voted onto the Board by the Members (contributors of $25,000 or more). The Board may appoint up to 6 additional Directors. A rotation of Board members will occur with the length of appointments at two years per term, renewable.
The capital invested in the fund will be maintained in perpetuity. This will help increase the capital to earn as much interest as possible. The sole purpose of the Foundation is to make the game grow through grants. The exception are limited-term Capital Funds, designed to accumulate and then disburse funds for a designated capital project such as a new or renovated clubhouse.
Any disbursements made from a Foundation fund must be towards activities and projects aligned with the Foundation’s object to develop and grow rugby across Canada. Responsibility for ensuring the funds are used for the purposes intended is jointly held by the Foundation’s Board of Directors and the Qualified Donee through which funds are disbursed to the fund beneficiaries, such as a local rugby club.