It was in August 1957 that Mary Raine signed the Deed of Trust in 1957, bequeathing her property empire to the University for the purpose of funding medical research.  

The Raine Medical Research Foundation represents the largest bequest received by The University of Western Australia. Since established by Mary Raine, through her legacy to the University, the value of the Raine portfolio has grown from £1m in 1957 to the market value of assets reaching almost $34m at the end of 2007.

Projections suggest that by 2010 the portfolio could be in the vicinity of $40m. Meanwhile annual allocations for research reached $1.7m for 2008, with an overall funding contribution to medical research that is now in excess of $27.5m.

The Foundation is administered by a Research Committee appointed by the University Senate in accordance with the Deed of Trust, the main objective being to fund investigative research into human disease. Mary Raine was quite explicit in her wishes as documented at Clause 3(b) of the Deed, which states that:

The net income of the Fund shall be applied towards seeking, diagnosing and investigating the nature, origin and causes of diseases in human beings, with the initial emphasis on arteriosclerosis and allied diseases, and the prevention, cure, alleviation and combating of such diseases.

Over the years the Raine Foundation has made a distinguished contribution to medical research. It has supported scores of major research projects, funded two Centres of Excellence, established fellowships and scholarships, sponsored the visits of numerous international scholars, participated in major joint ventures, and fostered medical research at the undergraduate level.