MERCANTILE FOUNDATION

Since 1880 Mercantile Rowing Club has created an environment of camaraderie and athletic achievement that has enabled our members to enjoy their rowing endeavours, create life-long friendships and achieve world class success. Thousands of rowers have enjoyed the many benefits of rowing and their lives have been enhanced by the experience. They always call themselves rowers, long after their active rowing ceases.

This needs to continue no matter what challenge or adversity might arise for our Club.

To remain a high-performance club, Mercantile must have a suitable boathouse, employ excellent coaches, maintain an excellent fleet, and also have the ability to make step changes beyond the day-to-day operations of the Club.

The Club’s Foundation exists to ensure this remains possible.

The Foundation needs your support.

How do I make a donation?

Donations can be made direct to the ANZ Bank:-

• Account name: Mercantile Rowing Club Foundation Ltd.
• BSB:-   013400   Account Number:–   175169713
• Please include your name in the reference.

If a tax deduction is sought, donations can be made through the Foundation’s campaign on the Australian Sports Foundation website:- https://asf.org.au/campaigns/mercantile-rowing-club-foundation-ltd/mercantile-rowing-club-foundation-ltd-annual-giving-campaign. (The ASF retains 5% to cover their costs of operation.)

In addition to donations direct to the Foundation, the Club has been fortunate to receive generous bequests from deceased members. These have made a considerable difference to the Club. We have also been fortunate to have received commitments from some members that the Club will be well provided for in their Estates.

Should you be so kind to leave a gift in your Will to the Foundation, you could arrange with your solicitor to update your Will with the following words as a guide:
I give to the Mercantile Rowing Club Foundation Ltd (ABN 98 678 326 255) a gift of (insert here your choice of either a specific gift amount or a percentage of your residuary estate) for use in accordance with its objects (or specify a particular purpose).

For further information on how to donate, or should you wish to discuss your donation, please call Andrew Guerin on 0417 554799 or send an email to foundation@mercantile.org.au.

History of the Foundation

Back in 1986, immediate past President James Sprigg made a substantial donation to establish the Club’s Foundation, then known as the Endowment Fund. The original idea of the fund was to provide reserve funding should the Club have its “back against the wall” such as having to find another place from which to row. Other generous donors followed with the cornerstone donor being the outstandingly generous Sean Colgan.

The Foundation has been the primary source of funding for two prior boathouse renovations. The most recent enabled the introduction of a second tenant in St Catherine’s School. The  higher and growing rental stream from both our tenants has  funded our professional coaches and so our high-performance program. The earlier renovation created an income stream from boathouse hiring, which was then a critical source of revenue.

The Foundation’s long-term view has enabled step changes to our Club which a Club Committee, burdened with the compelling role of running the Club, would find difficult to achieve.

Due to the great generosity of Sean Colgan and some other key donors, the Foundation provides annual six figure equipment grants to the Club whilst also providing athlete support in attending international regattas.

Long term aims of the Foundation

The overall aim of the Foundation is to secure the future of the Club. To achieve this, the Foundation needs to provide help for boathouse renewal, equipment, athlete support, volunteer support and professional coaching.

The Foundation’s aim is a capital fund of at least $10 million in today’s dollars. It currently has assets of $3.5 million. Every donation remains in the fund as capital. All donations, no matter how small, are important as they remain as capital of the fund forever.

The specific objectives of the Club are - 

Maintenance of a Boathouse

This is the original purpose of the Foundation established by the Late James Sprigg. Currently this part of the Foundation has assets of about $200K. Our objective is to have at least $1mil in 8 years time to again assist in the renovation of the boathouse. We project that the current assets and the income generated over the next 13 years, we will reach our target. Obviously after every renovation, this objective will need to be renewed.

Maintenance of a good fleet

This part of the Foundation established by Sean Colgan and named after a former great coach Hubert Frederico has achieved its initial objective and subject to the Administrators maintaining the real value of the capital and income, it is regarded as completed.

Assistance to Club athletes competing overseas. 

This part of the fund is called the Colgan Fund and supports our members competing overseas. This fund part of the Foundation provides annual grants to our travelling athletes. 

Supporting volunteers

This element of the Foundation was established with a bequest from the Late Dr R A Cooper back in 1973 to provide an annual award for the Club member of the year and has expanded to include wider volunteer aims. 

Support coaching at the Club

The final aim of the Foundation is to support coaching at the Club. This segment of the Foundation's assets is named after the Late Keith Bilney was established by a donation from his family. The objectives of this fund would be to fund two coaches and so is a very large figure. This is unlikely to be achieved for a considerable period.

Your Foundation Directors are currently Andrew Guerin, John Harry, Malcolm Batten, Gina Peele  and Graeme Barns. The Club’s Foundation operates as a company limited by guarantee with three independent directors and two directors appointed by the President. The independent directors currently are two past Presidents and a respected senior member.

The Foundation is a critical part of securing the Club’s future and will need many more donations and bequests to achieve its aims.

If anyone has any questions on the Foundation, please do not hesitate to call any of the Directors.

Andrew Guerin
Updated November 2025