A proud history, a prosperous future

Since 1877, Commercial Rowing Club has consistently shone in the face of adversity and overcome many challenges to enable its members to pursue their love for rowing.

On the water, CRC has enjoyed periods of extraordinary success at local, national and international levels. Since its inception, thousands of men and women have rowed for CRC and appreciated the many benefits that rowing has brought to their lives.

CRC’s success is testament to the commitment, passion and determination of its members who have volunteered their time and effort over the decades to keep our clubhouse open.

However, as times change, membership fees, intermittent grant funding, and one-off fundraising drives cannot be relied upon to cover the expenditure of running a high performing rowing club.

What is the Commercial Rowing Club Future Fund?

The Commercial Rowing Club Future Fund (the Fund) has been established to sustain the long-term future of CRC. It is intended as a financial safeguard to protect our proud history and guarantee a prosperous future by:

1. ensuring CRC always has access to a purpose-built clubhouse and boating facility on the Brisbane River 
2. enabling CRC to grow its rowing programs and become a leader in the Queensland and Australian rowing community.

The Fund aims to raise $4 million by 2030.

This target fund amount will allow for the construction of a new clubhouse if ever necessary, and provide distributions to the Commercial Rowing Club — potentially $160,000 per year, as long as the capital base remains in place.

These distributions will be directed to coaching, rowing equipment, support of gifted athletes and clubhouse improvements. Membership fees will continue to cover the day-to-day operating costs of the club.

Through sound financial management, CRC has accumulated significant savings through an investment account. Up to $500,000 has been transferred to the Commercial Rowing Club Future Fund as a base to leverage growth.

It will require discipline and drive to reach the target fund amount of $4 million. All returns earned will be reinvested until this target is met. 

In addition, the Fund will rely on donations, bequests and fundraising events: Download our brochure.

Legal structure of the Fund

The Commercial Rowing Club Future Fund Ltd (the Future Fund) has been established as a ‘Public Company Limited by Guarantee'.

The Future Fund exists to ensure the long-term viability of the Commercial Rowing Club in accordance with the Objects as set out in its constitution to:

• promote and support Commercial Rowing Club and the sport of rowing
• raise money for Commercial Rowing Club, Commercial Athletes and Commercial Coaches from members and supporters by way of donations, bequests and other fund raising activities
• establish and manage the Future Fund Investment Fund as an ongoing stable source of capital and income to support the activities of Commercial Rowing Club, Commercial Athletes and Commercial Coaches
• perform such other activities as may be incidental to the objects referred to above.

The Commercial Rowing Club Future Fund Ltd has 5 voting members.

The President of the Commercial Rowing Club has an opportunity to reject proposed members of the Future Fund if not considered appropriate.
The responsibility for selecting the Future Fund’s board of directors rests with the members of the company who elect them.

CRC Life Members and long-term members, past and present, are a suitable group to be charged with the responsibility, as members, for selecting the board of directors.

The board of directors of the Commercial Rowing Club Future Fund Ltd must be appropriately qualified and experienced to warrant the confidence of prospective donors to the Future Fund.

Board of Directors

Bruce Greenland — Chair and Director
Life Member CRC, Former Captain CRC
Life Member Rowing Queensland
Director, Greenland Pastoral
Former Chairman of the Anglican Church Grammar School Foundation

Penny Dixon — Secretary and Director
Life Member CRC; Former President, Chairman and Captain CRC
B. Bus - Accountancy; Advanced Certificate Business Administration
35 years’ experience - governance, project management, business analysis, IT systems management

Steve Wilson AM — Director
Long-term Member and Benefactor of CRC
B. Com; LLB from University of Queensland
Over 35 years of professional investment experience and serving on many boards
Chairman of Racing Queensland
Trustee of University of Queensland Rugby Union Foundation Trust

Mal Batten OAM — Director
Life Member CRC; Life Member Mercantile Rowing Club
Board Member Rowing Australia
Director, Mercantile Rowing Club Foundation
Director, Rowing Australia Foundation
B.A.Sc (Construction Management)
Over 30 years' experience as a senior executive in the construction industry

Mark Farmer — Director
Long-term member of CRC
B.Bus - Accountancy
Fellow of The Institute of Chartered Accountants Australia and New Zealand
Over 32 years' experience as a practicing Chartered Accountant
Over 25 years on management committee including 13 years as 1st Officer of Brookfield Rural Fire Brigade