The Muir Memorial Endowment was established to support cardiac medical research. Myrven, known widely as Dick, created the endowment to honour the wishes of his late wife Judith, whose mother had died of a hole in the heart.
In 2009 Dick set up the endowment as their legacy, dedicated to supporting heart research at the Prince Charles Hospital in Brisbane, where Judith had spent her career as a medical typist. He decided that an endowment within the Perpetual Foundation was the right option because it would be professionally managed while still giving him oversight as to where the money was spent.
Initially Dick intended to establish the endowment through his will, but with the encouragement of his niece Nerida, he set it up during his lifetime.
“Uncle Dick was happy to see how the endowment worked while he was with us. He was very impressed with its performance and loved seeing how the money was being used for the cause he was passionate about”, says Nerida. “He liked hearing from the Prince Charles Hospital Foundation about what the funding was going towards and, as a policeman for most of his working life, he took great pleasure in investigating the detail of the research projects.”
Although Dick started the endowment with an initial donation of $50,000, with the help of his Perpetual adviser he would make an additional tax deductable donation each year.
By including donations to the endowment as part of his annual tax planning, Dick was not only able to reduce his tax liability but also grow the balance of the endowment and provide more funding towards the cause that was so important to he and his wife.
Annual grants to the Prince Charles Hospital Foundation from the Muirs’ endowment mean consistency of funding that allows researchers to build momentum in their work, leading to faster medical discoveries. Michael Hornby, Prince Charles Hospital Foundation’s CEO says, “With sustainable funding from the endowment, we’re able to retain the best researchers and give them the security they need to carry out their life-saving work. The Muir’s generosity gives our researchers an element of security in a field that struggles for ongoing funding.”
“For patients, the research that is funded at The Prince Charles Hospital has an impact on them directly. Recently, Bec Craven found out she was suffering from end stage heart failure and would need a transplant to make it to her 24th birthday. Thanks to the work being carried out on campus, Bec was able to have a mechanical heart device implanted, which allowed her the crucial time she needed to wait for the right donor heart.”
Dick passed away in 2016 and left the majority of his estate to the endowment. The Myrven and Judith Memorial Endowment now sits at over $850,000 and will grow substantially with the addition of Dick’s bequest. It has granted more than $90,000 to helping tackle heart disease so far and will continue to support important cardiac research well into the future.
Perpetual Foundation Endowments can be set up during your lifetime while you can see the impact of your generosity or form part of a legacy through your will.
Caitriona joined Perpetual’s Philanthropy team in January 2013 and is responsible for supporting Perpetual’s commitment to Philanthropy and the not-for-profit sector.
With over a decade of philanthropic and grantmaking experience in both Australia and Europe, Caitriona has an extensive understanding of national and international funding approaches and mechanisms.
Caitriona is a former Chair of Philanthropy Australia’s Education Affinity Group. As an inaugural team member of the Leading Learning in Education and Philanthropy (LLEAP) research project, Caitriona possess a high level of understanding relating to the trends and challenges in the philanthropic sector within Australia. Her sector knowledge and standing was affirmed in 2012 when she was named the Australian Institute of Grant Management’s inaugural Grantmaker of The Year.
Caitriona is currently completing a Masters of Business (Philanthropy and Nonprofit) at the Queensland University of Technology and is a Board Member of Schools Connect Australia.
Jane joined Perpetual in 2011 and is a senior philanthropy specialist with significant experience and knowledge of the private wealth and not-for-profit sector.
Jane provides support to families and individuals who wish to create a legacy and structure their giving through the establishment of a charitable Foundation or Endowment. In doing this she also works closely with philanthropists to formulate giving strategies to ensure that their financial resources are best utilised to achieve outcomes and make an impact in the communities in which they seek to support.
Jane has a strong governance background having completed a Bachelor of Business and is a Graduate of the Australian Institute of Company Directors.
Tracey joined Perpetual in November 2010 and has worked in various roles and divisions across Perpetual Private including Advice Delivery, Project Management and most recently Philanthropy.
Tracey is passionate about helping clients structure their giving in order to enable them to support their preferred charities in the most impactful way. Tracey is focussed on building meaningful relationships with both philanthropists and the not for profit sector to facilitate positive outcomes for the community.
Tracey holds a Bachelor of Business and an Advanced Diploma in Financial Planning.