The Foundation of Greater Montreal to distribute $1.3 million in grants in 2009
Montréal, June 18, 2009 – At its 10th Annual General Meeting held today, the Foundation of Greater Montréal (FGM) announced that, in spite of the global economic crisis, it would distribute $1.3 million in grants to organizations dedicated to the collective wellbeing of Greater Montréal in 2009.
2008 fiscal year: an exercise in rewarding caution
The 2008 global financial crisis did not spare the FGM. Its December 2008 year-end results showed a 12.5% decrease in portfolio yield compared to the previous year. “In the current context, those results are indeed positive and compare favourably to the average losses attributable to the economic crisis
across the country, which sit at around 18%” commented Mr. Gaston Bouchard, interim President and Chief executive Officer of the FGM.
The outgoing Chairman of the Board of the Foundation, Mr. Alex Paterson, added that the Board had indeed made a very wise decision in postponing to 2009 those grants that had been planned for 2008. “That decision allowed us to carefully analyse the effects of the crisis and, mostly, to free $1.3 million in
grants in 2009, at a time when needy organization s are starting to feel the fallout from the crisis”.
New President and Chief Executive Officer
The FGM’s ninth year saw the departure of Mrs Kathleen Weil who had been President and Chief Executive Officer of the Foundation since its inception. Mrs Weil is now the Member of the National Assembly for the riding of Notre-Dame-de-Grâce as well as Minister of Justice and Attorney General of Québec. Today, the Board of Directors announced the appointment of Mrs Marina Boulos as President and Chief Executive Officer of the Foundation, effective July 2, 2009.
Originally from Montréal, Marina Boulos holds a bachelor’s degree in psychology and a graduate diploma in applied management from McGill University in Montréal. She has been pursuing a career in philanthropy and volunteerism for over 20 years, during which she was Executive Director of Tel-Aide and Le Bon Dieu dans la Rue in Montréal. In New York, where she worked for 12 years, Ms. Boulos was Director of Major Gifts for United Way of New York City, Executive Director of CCS Fundraising Inc., a National Assistant Executive Director of the YWCA of the USA, President and Chief Executive Officer of the national “I Have a Dream” Foundation, and the first Executive Director of the High Water Women Foundation.
A renewed Board of Directors
Today, the members of the FGM elected Mr. Marcel Côté as Chairman of the Board. Founding Partner of SECOR conseil where, for over 30 years, he acted as strategic consultant to senior managers in Canadian and French companies. Mr. Côté, who succeeds outgoing Chairman, Alex Paterson, introduced the new members of the Board: Mrs Aida Kamar, founding President of Vision-Diversité; Mrs Dominique McCaughey, lawyer and Director of Special Initiatives at Concordia University, Mr. Gilles Nolet, a member of the Board of Directors of the Fondation Lucie et André Chagnon, and Mr. Joel Raby, Chairman of the Board of the Montreal Jewish Community Foundation. In closing, Mr. Côté thanked the newly elected Directors, indicating that he looked forward to seeing their collective experience and skills contribute to the growth of the FGM. He also thanked outgoing Directors, Mr. Pierre Brunet, Chairman of Montréal International, Harry Feldman, Founding Partner, Shwartz, Levitsky, Feldman and Mr. Jacques Bougie, former Chief Executive Officer of Alcan, for their outstanding contribution.
About the Foundation of Greater Montreal
The Foundation of Greater Montreal (FGM) is a non-profit charitable organization dedicated to the wellbeing 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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Director, Communications and Donor relations
Foundation of Greater Montréal
(514) 866-0808, ext. 102