Latest News

The Foundation of Greater Montreal, a Leader in the Philanthropic Arena

Press Release – For Immediate Release

The Foundation of Greater Montreal, a Leader in the Philanthropic Arena

Montreal, June 12, 2008–At its Annual General Meeting, held today, the Foundation of Greater Montreal (FGM) presented a very positive assessment of its fiscal year 2007, marked by an exceptional expansion of its outreach. In a very short time, the FGM has become one of the 10 largest community foundations in Canada.

Taking a look at the numbers, 17 new private funds and 17 new organizational endowment funds have been established, bringing the total assets managed by the FGM to $87 million, including $44 million in owned assets. Some 100 other donors have contributed to existing funds, demonstrating that trust in the FGM is broad-based. “In the eyes of donors, a community foundation provides an effective long-term means to contribute to improving the quality of life around them because the capital of their gift is preserved for all time, said Kathleen Weil, President and Chief Executive Officer. Several donors also see this as an opportunity to involve the whole family, a way to make their children aware of the needs of others and to come together around an exciting community endeavour.”

Thanks to the continued growth of its assets, the Foundation was able to provide over $2 million in grants this year, benefiting more than 100 organizations active in every sector of the community. These figures reflect the Foundation’s growing influence in Montreal’s philanthropic arena as well as the leadership role that a community foundation can play in an urban environment.

Alex K. Paterson, Chairman of the Board took the opportunity to introduce three new Board members, whose experience and expertise will undoubtedly contribute to the Foundation’s growth. They are Pierre Comtois, President and Chief Executive Officer, Optimum Asset Management Inc.; Joseph Iannicelli, President and Chief Executive Officer, The Standard Life Assurance Company of Canada; and Robert Tessier, Chairman of the Board at Gaz Métropolitain. He also expressed his gratitude to outgoing Board members André Chagnon, Brian Levitt and Hélène Wavroch for their valuable contributions.

The Foundation of Greater Montreal is a non-profit charitable organization dedicated to the well-being of the Greater Montreal community. It builds and manages permanent endowment funds and distributes the income in the form of grants to charitable organizations working in the areas of health, social services, arts and culture, education, and the environment.

On November 7-9, the FGM will host the CFC Conference 2008, Our Communities, Our World, which will bring to Montreal representatives of community foundations and leaders of philanthropic entities from all over the world.

– 30 –

Kathleen Weil
Foundation of Greater Montreal
(514) 866-0808 ext. 101