FGM's Impact Continues to Grow
Montreal, May 9, 2007 – The Foundation of Greater Montreal (FGM) enjoyed an outstanding year in 2006, doubling its assets and adding a second granting cycle to its operations in 2007 due to a healthy return of 11.08 % on its investment portfolio. Through the contributions of generous donors and new partnerships with charities that have created permanent endowment funds, the FGM is now supporting initiatives in virtually every area of community life.
“We have made enormous progress on every front since opening our doors seven years ago,” highlighted the outgoing Chairman of the Board, Pierre Brunet, at the FGM’s Annual General Meeting (AGM). “New gifts, including a donor-advised fund of $24 million from an anonymous donor, have allowed us to double our assets in one year to $80 million. Increasingly we are viewed as a trusted steward of charitable funds with a unique expertise in helping donors identify immediate and long term community issues and opportunities.”
“Most importantly,” added Kathleen Weil, FGM President and Chief Executive Officer “We are beginning to make a difference. Our grants in 2006 helped Montrealers address some of the major issues facing our community, from living with HIV/AIDS to helping children living with a mentally ill family member and supporting a home work club in Pointe-Saint-Charles. The FGM community grants program also helped, among other initiatives, improve access to social and recreational activities for people with disabilities, and supported initiatives to increase community involvement and grassroots leadership in the Saint-Michel neighborhood.
The FGM also launched Greater Montreal’s Vital Signs in 2006, the first annual check-up on the metropolitan region’s quality of life. This report presents a statistical outlook on different sectors of community life, such as work, the gap between the rich and the poor, learning, health and wellness, housing, getting around, safety, the environment, arts and culture, getting started in the community, belonging and leadership.
“The response to Vital Signs has been extremely encouraging,” noted Kathleen Weil. “It has helped build awareness of the challenges facing our city, while stimulating discussion and guiding community investment decisions.”
At the AGM the Board of Directors also announced the appointment of its new Chairman, Alex K. Paterson, counsel to the law firm Borden Ladner Gervais and Vice-Chairman to the FGM since 2004, and welcomed new Directors: Germaine Gibara, a business consultant and member of several Boards of Directors among which Sun Life, Cogeco Cable, the CPP Investment Board, Technip (France), and Madeleine Féquière, Director, Credit, Abitibi-Consolidated Inc. M. Paterson thanked Mr Brunet for his extraordinary contribution to the growth of the Foundation during his five years at the helm of the organization.
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.
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For further information:
Foundation of Greater Montreal
Tel.: (514) 866-0808