The Foundation has as its mandate the building of a permanent endowment fund administered by an independent Board of Directors elected by Donors and appointed by Rugby Canada. The primary emphasis of fundraising will be to build an endowment fund, 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);
- articulating investment policy;
- approving annual budgets;
- choosing foundation executive and officers;
- appointing auditors.
There is a total of seven people who sit on the Canadian Rugby Foundation’s Board of Directors. Two are appointed by Rugby Canada; the remaining five are voted onto the Board by members contributing $25,000.00 or more. A rotation of Board members will occur with the length of appointments at four years per term.
The capital invested in the fund will strictly 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 money will be properly utilized as the Board of Directors will oversee the Fund to ensure the money is used correctly and to ensure the money is used exclusively for grants. This is their primary function.