Monkton Bluefriars Boat Club was founded in 1964 to encourage former pupils and staff who had been members of Monkton Combe School Boat Club to meet socially and in boats. Originally, a token membership fee covered expenses. However, in 1995 the Monkton Bluefriars Charitable Trust was established to encourage a greater level of charitable giving in order to support young rowers. The purpose of the Trust was widened to include support for students rowing in other clubs as well as Monktonians. The Trust supplies grants to help fund equipment or events for athletes who cannot afford to cover the costs themselves, depending on their financial situation.