The Powell family, along with the local community, have established the Powell Legacy Fund fund with a $100,000 contribution from Wannon MP Dan Tehan.

The fund aims to continue the pair's passion for volunteering, education and agriculture by supporting young people as they transition from school to post-secondary education and their careers.

Ross, 71, and Andy, 32, were life-long members of the Port Campbell Surf Life Saving Club, active in the CFA and SES and prominent figures in the local dairy farming industry.

Last Easter they tragically died after their boat flipped during the rescue of a 30 year-old-man from the entrance of the Sherbrook River near the Twelve Apostles.

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Val Powell, Ross' wife and Andy's mother, thanked the community and Mr Tehan for their support in setting up the fund.

"It's a great feeling to know that even though we lost out beautiful Ross and Andy this is going to continue their work and fill a big hole they have left," she said through tears.

"They would have been over the moon to have this type of influence on people's lives, they loved making a difference and helping out."

Friend James Green said his good mate Ross would have been proud of the fund.

"My association with Ross goes back many years in both surf lifesaving and the dairy industry as well," he said.

"He's an excellent person and excellent contributor to the local and wider community. Everything he tackled he tackled with a lot of energy, it's amazing the things he took on.

"I miss so many things about him, right down to having a beer with him at Port Campbell.

"This legacy fund is going to be great for the local community and the farming fraternity."

Surf club president Scott McKenzie said the fund would provide grants and scholarships, would be flexible and offered across a broad range of activities.

A local subcommittee has been formed consisting of representatives from Timboon P12 School, surf club and other local organisations and will assess applications and advise the board of the DemoDAIRY Foundation on successful applications.

It is envisaged that the fund will be disbursed over a 10-year period.

More information, including application forms and criteria will soon be available via the DemoDAIRY Foundation website www.demodairy.com.au.

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