The Toronto Scottish RFC Charitable Fund is a long term endowment fund that provides a way to support the Toronto Scottish rugby community in the development of our players and coaches. 100% of each and every donation will be allocated to this purpose, up and until the fund reaches $150,000 in permanent capital, after which 50% of donations may be allocated towards future capital projects via a Capital Projects Accumulation Fund (CPAF).
For the 2020 season, contributions to the CPAF are not in effect.
The Endowment Fund
The Endowment Fund will accumulate permanent capital. This capital will generate interest that will be paid to the club each year for the expenses outlined below. The Toronto Scottish RFC Board require that all payments be approved prior to the expense being incurred. All approvals will be at the discretion of the Toronto Scottish RFC Board.
For the 2020 season, funding will exclusively be used for:
1) Toronto Scottish RFC coach development and/or compensation
2) Toronto Scottish RFC player support for financial need members
3) Toronto Scottish RFC player support for Elite members within and outside of the Toronto Scottish RFC club program
The Capital Projects Accumulation Fund (CPAF)
The CPAF will not be open in 2020. It will remain closed until the Toronto Scottish RFC endowment fund surpasses $150,000 in permanent capital. Once open, the CPAF may be used to help fund approved capital projects for the improvement of and expansion to Toronto Scottish RFC facilities. This includes but is not limited to the acquisition of real property. In order to be eligible for funds from the CPAF a project must have a cost of more than $20,000.00, and must be approved by the Toronto Scottish RFC Board. This fund is not to be accessed for repairs and maintenance.