What is a community foundation?
It is a public foundation governed by a board of directors composed of volunteers who are broadly representative of the community served. It makes grants to charitable organizations in the community.
How does the FGM work?
Like all community foundations it:
- pools the charitable gifts of many donors into permanent income-earning endowment funds;
- makes grants from the earnings of these funds to support community projects in different areas such as health, social services, arts and culture, education and the environment and in accordance with the priorities established by its board of directors.
What region does the FGM serve?
The FGM serves mainly the Greater Montréal region including the North Shore, the South Shore, Laval and Longueuil and their surrounding area.
What is the difference between Centraide and the FGM?
Centraide holds annual fundraising campaigns, then distributes the funds raised to support social agencies exclusively. The FGM receives primarily bequests and endowed funds, protects the capital in
perpetuity, and distributes only the income generated to support local initiatives in a wide range of sectors.
What is an endowment fund?
A fund held as permanent capital invested for the purpose of generating income for distribution to charitable organizations.
How does the FGM support charitable organizations in the community?
Charitable organizations may create endowment funds within the FGM to provide an additional source of annual income for their programs and operations, or they may transfer existing funds for
management purposes only, thus allowing them to access their capital from time to time. In each case the organizations reap benefits from being in the FGM’s pooled fund such as economies of scale, lower administrative costs, professional fund management, and a competitive rate of return. Eventually, charitable organizations will receive revenues in the form of grants from the FGM, which they may use at