Monkton Bluefriars Boat Club was founded in 1964 to encourage old boys of Monkton Combe School Boat Club to meet socially and in boats. There was a token membership fee which covered a few expenses.

In the 1970s recent leavers who had rowed at school were encouraged to join Bluefriars and support it with annual donations. Many of these leavers gave between two and ten pounds a year to support their successors who were still rowing at school. As these donors now have greater disposable income, many are happy to give more. In 1995 it was decided to set up the Monkton Bluefriars Charitable Trust to encourage more people to give, using the tax benefits of a charity. so that more help could be given to young rowers. At the same time Bluefriars widened its purpose to include support of students rowing in other clubs as well as Monktonians.

The Monkton Bluefriars Charitable Trust is a Registered Charity, number 1057322.