Cystic Fibrosis Research Limited - Cystic Fibrosis Queensland

Cystic Fibrosis Research Limited (CFRL) was established in April 1990 by Cystic Fibrosis Queensland to administer and grow bequests and donations to further cystic fibrosis research priorities.

The objective of CFRL is to act as custodian of a ‘Capital Fund’ for the purpose of facilitating research into, investigation of and the eventual cure of cystic fibrosis.

CFRL is to act as custodian to ensure the wise investment of the Capital Fund so that the interest and earnings from the underlying investments (but not the capital of the Fund itself) may be used for funding research projects.

CFRL retains at least 10% of earnings as an inflation hedge and to grow the Capital Fund. The remainder paid out as research grants or accumulating for future research projects. Additional moneys may be obtained by means of grants, promises, gifts, bequests or by any other lawful means to invest any money obtained for the above purpose.

The Directors of CFRL are to invest and deal with the moneys of the Capital Fund which are not immediately required for research funding, in a way which the Director think fit and is permitted by law for the investment of trust funds.

CFRL’s cumulative investment in research now exceeds over $1,000,000 in research grants funded. Most has been as seed funding in original research, many projects having started with CFRL support and graduated to major funding from organisations such as National Health and Medical Research Council and international agencies.

In assessing the merit of projects, CFRL relies on the annual scrutiny by medical assessment panels recruited by Australian Cystic Fibrosis Research Trust (ACFRT). However, the selection of which actual project it sponsors has been made by the CFRL Board.

CFRL is independently run by a board of volunteers with business expertise. Its outlays are minimal, being confined to unavoidable statutory fees. CFRL board members are supported by pro-bono specialised support in financial planning, accountancy, and audit. Cystic Fibrosis Queensland (CFQ) continues to support CFRL by shouldering the administration and operational costs.