Note: For specific steps on starting a club fund refer to this page.
Why is there the need for these new endowment funds to support local programs?
Many Canadian Rugby investors are passionate about the sport throughout the country but keeping their money in their community or region is also very important to them. They would like to see their money spent in their area of interest and invested in their local players and teams.
The Canadian Rugby Foundation would like to assist all areas of rugby in Canada and, for this reason, the Foundation has decided to aid many projects across the country. New funds will be started immediately for those who wish to support their club, school, university or even to provide a scholarship for a rugby player. It is mandated that all funds which originate with the Foundation must be endowed and used in perpetuity. Interest earned on the endowed funds will be dispersed on an annual basis to the beneficiaries of the fund.
The benefits of endowing money in the Canadian Rugby Foundation are many. The first is that the Canadian Rugby Foundation will be matching funds contributed to the Canadian Rugby Foundation with an additional 25%. This should provide great benefits to those who will be receiving the funds and to those who wish to create a new fund for a deserving rugby program. The second reason is that the Foundation is a charity and can therefore provide charitable tax receipts to each donor who makes a contribution.
Tax-advantaged support can often be difficult to find in the rugby community and, given that there are so many generous donors, making it available will ease the act of contributing to one’s club, school, university or scholarship. The Foundation will also look after all the administration behind the funds and will even participate in attracting donations.
It is the Foundation’s intention to assist as many new funds as possible, from coast to coast, so, if you have an idea for a new fund, or are interested in starting one up for your club, school, university, region, or even in providing a new scholarship, please do not hesitate to contact us for more information. It’s as easy as letting us know the name of the fund you wish to create and the charitable purpose and intentions of it.
You may want to create your own fund and name it for yourself, another family member or someone who is special to you or the rugby community. This fund can have a special goal or purpose within the rugby community as it may hold special meaning to you, the donor. These advised funds allow the contributor to participate annually in the grant making process.
Rugby in Canada has been operating on a basis where money that comes in from sponsorship or donation is immediately used up, and nothing is maintained for the long-term growth of the program. This is true for almost all donations that are directed towards rugby. It is for this reason that the Canadian Rugby Foundation is trying to encourage donors to think long-term and donate their money to be endowed.
Endowment funds start slowly but, with continual contributions and support, they grow and eventually can form a substantial part of a rugby operational budget. By focusing on an endowment fund now, one will ensure that donations are maintained forever and the interest earned will support one’s choice of rugby fund on an annual basis.
NOTE: a $10k initial contribution is minimum to set up a fund.