Russell Grimwade had a clear and concise vision for his philanthropy, which balanced a strongly held sense of place and tradition with enlightened scientific innovation. Some recipients of the Grimwades' largesse had been pre-determined in establishing the bequests, building upon Russell's earlier commitment to biochemical research, for instance, while seeking to realise his long-held desire to fund the 'birth of an antipodean Clarendon Press' at Melbourne University Press.

With the establishment of the Miegunyah Fund Committee in 1991, the Grimwades' philanthropy has enabled an exciting range of initiatives and programs. For more than two decades, Australia has benefited from the visits of almost a hundred international academics and thought leaders under the auspices of the Miegunyah Distinguished Visiting Fellows program. The University's cultural colletions have been enriched by the extraordinary treasures of the Grimwade collections, encompassing significant works of art as well as rare books and items of Australiana. Russell Grimwade's passion for chemistry, appreciation of art, and sense of obligation to preserve the past for future generations is given tangible form through the Miegunyah Fund Committee's long-standing support of the University's Centre for Cultural Materials Conservation.

Almost forty years later, the vision and generosity of the Grimwade philanthropy remains one of the University of Melbourne's most significant gifts.