In 2009, the year of the Club’s centenary, the Melbourne University Rugby Foundation was established by a group of supporters and former players to ensure that University rugby survives and prospers at the highest level in Australia and continues to grow both the University’s and Victoria’s rugby infrastructure and capability base.
Many past and present players and supporters feel that some of their most cherished memories stem from their days at the Club, and the Foundation is a way of giving something back to the Club and University rugby in perpetuity.
Established in 2003, the C.P. (Peter) Hone Scholarship Fund was established by the “Friends of Melbourne University Rugby” under the leadership of life member Hayden Raysmith. This fund has been set up under the auspices of the University as a sub account to the universities’ endowment fund structure. The objective of this fund is to generate sustainable investment income to be able to offer 4-5 modest scholarships on annual basis to promising young players who are undertaking tertiary studies.
The Fund’s capital is invested in the Universities long-term investment pool (allowed under section 38 of the Melbourne University Act) managed by the Victorian Funds Management Corporation and overseen by the University’s Finance Committee; the funds in that pool are managed on a 25 year horizon.
Launched in 2009, the year of our Club’s Centenary, the Rugby Development Fund was established for the specific purpose of supporting the development of Rugby Union at theUniversityofMelbourneand in the Club’s local community generally. This support includes: strategic capital projects, specialist coaching clinics and resources, the MURFC Academy, strength and conditioning programs, training equipment, uniforms, team travel expenses to compete at University rugby tournaments, training costs, sports medicine services and memorabilia preservation and storage.
Donations for this fund are accepted on the Club’s behalf by the Australian Sports Foundation who in-turn disburses the donations received to the Rugby Development Fund. This arrangement, being a registered project with the ASF, enables donors to access the tax deductable status of the ASF. The fund isadministered by the Foundation Committee which is also charged with the responsibility of investing the funds on a conservative basis to provide both capital growth and investment income (after preserving a minimum amount to account for inflation). The objective of the Fund is to build up a capital endowment which will generate a meaningful annuity stream that can be gifted to the Club for specific purposes on an annual basis.
Under the Rugby Development Fund Deed of Establishment the Board of Trustees of the fund must consisting of 5 members of the Club, one of whom, but not more than two of whom, shall be Officers of the Club and must include the Treasurer of the Club. A permanent position is also reserved on that committee for Chairman of the C.P. Hone Scholarship selection committee. The Board of Trustees also serves as the Foundation Committee and both the Scholarship Fund and the Rugby Development Fund areadministered jointly by this committee.