About The Maroon Foundation
The Maroon Foundation
established July 2018
The Maroon Foundation has been established by the Old Maroons for the benefit of students at the University of Canterbury — particularly those associated with the University Rugby Club.
The Maroon Foundation builds on the ‘Gold Club’ from the 1980s (the Loveridge era), where funds were raised for the University Clubhouse. The Maroon Foundation is an enhancement on this, and is a Charitable Trust, creating an inter-generational solution which adds significant ongoing strength to the University of Canterbury and, therefore, to their ability to provide strong and diverse education to the players over the coming decades.
The intention is that the funds themselves will never be allocated — only interest from the funds will be used.
The Maroon Foundation builds on the ‘Gold Club’ from the 1980s (the Loveridge era), where funds were raised for the University Clubhouse. The Maroon Foundation is an enhancement on this, and is a Charitable Trust, creating an inter-generational solution which adds significant ongoing strength to the University of Canterbury and, therefore, to their ability to provide strong and diverse education to the players over the coming decades.
The intention is that the funds themselves will never be allocated — only interest from the funds will be used.
Funding the Foundation
The funding for The Maroon Foundation will come from Old Maroons who, themselves, have benefitted from and have a strong association with their experiences while playing for the University Rugby Club. Essentially, funding will come from four main areas:
YOUR YEAR
This is an innovative approach that will allow all past players to participate. The Old Maroon contributes dollars and cents that relate to the year they started playing for the Club. For example, if they started playing in 1993 their donation is $19.93; this can be paid weekly, fortnightly or monthly. This option allows all Old Maroons and past players to contribute at different levels as they move through their career – for example:
These are set up as automatic bank payments. The Charitable status means that donors can claim up to 33 cents in the dollar annually.
- Leaving University and starting their career = consider monthly contributions
- In the middle of their career = consider weekly contributions
- Retirement = consider monthly contributions
These are set up as automatic bank payments. The Charitable status means that donors can claim up to 33 cents in the dollar annually.
ONE-OFF DONATIONS
An alternative to recurring smaller donations, is to make a high value lump sum once only donation.
NO-INTEREST LOANS
Old Maroons only sacrifice the interest on the loan and can get their principal back at short notice if required.
BEQUESTS
Making a bequest in your will is a simple and effective way of supporting the Foundation beyond your lifetime.
Distribution and management of funds
The funds donated will be managed by the Foundation Trustees. An Investment Advisory Company, Accordia, has also been engaged to provide Fund Management and advice. Walker, Davie, Searells have been engaged as the Foundation’s Accountants and Rhodes & Co as the Foundation’s Lawyers. The initial Trustees are:
- John (Ruzz) Barr (Old Maroons President)
- Lindsay North (Old Maroons Treasurer and Consultant at Rhodes & Co.)
- Dean Chrystal (Old Maroon)
- Jared Brixton (University of Canterbury Rugby Club Chairman)
UCRFC support
The UCRFC is tangibly and financially supporting The Maroon Foundation by depositing some of the insurance claim funds, some of the 300 Club funds and some of the Loveridge Lounge Fireplace Repair funds into the Foundation. We feel that this is tangible proof of our support for this exciting initiative.
Jared Brixton, University of Canterbury Rugby Club Chairman
Contact
Maroon Foundation
PO Box 36 173, Merivale
Christchurch 8146
admin@maroonfoundation.nz
027 288 5896