Volunteers who maintain the Port Fairy to Warrnambool Rail Trail estimated they lost about $500 a couple of weeks ago when a donation box was cut clean from a metal pole.

Port Fairy IGA owner Colin Cleary was shocked to read about the theft and decided to do what he could to set things right.

Mr Cleary made a $500 donation to the group on behalf of the business.

“The main reason I did it is because it’s a volunteer thing,” he said.

“They volunteer their time and effort to beautify the rail trail.”

The business owner wrote out a cheque and surprised one of the group’s volunteers with it.

“They do a lot of good work,” he said.

“I thought, ‘it’s a little thing I could do to help out.’"

Mr Clearly said he rides and walks on the trail regularly and appreciates what it brings to the town.

Port Fairy to Warrnambool Rail Trail committee member Philip Du Guesclin said the group was delighted by the kind act.

“It took the edge off the hurt,” he said. “We felt it was a very generous gesture to make which he didn't have to do.”

Mr Du Guesclin said another anonymous person had also made a much-appreciated donation following the incident.

On Wednesday, two boys on school holidays came across the discarded donation box under a bridge and handed it in to police.

Mr Du Guesclin said when he heard the box had been found, he hoped it would be intact and still containing the lost funds.

However, the box had been cut through and the money was missing.

People using the iconic track during the busy summer period had given positive feedback, the long-time volunteer said.

“Just about everybody who has visited Port Fairy in the past few weeks has been on a bicycle of some sort,” Mr Du Guesclin said.