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Foundation of Greater Montreal: A partner dedicated to promoting culture



Montreal, November 22, 2005 - The Foundation of Greater Montreal (FGM) is proud to be associated with Placements Culture, a Government of Quebec initiative aiming to stimulate private investment in culture.

"Government matching funds programs such as Placements Culture have proven to be very successful elsewhere in Canada. Time and time again, these programs have helped stimulate private donations and secure a permanent stream of income essential to the survival of cultural organizations," said Mr. Pierre Brunet, Chairman of the Board of the FGM. "I would like to take this opportunity to commend the government for this initiative."

Founded in 1999, the FGM is a non-profit organization whose mission is to improve the quality of life in the Greater Montreal region by supporting charitable organizations working in the areas of arts and culture, education, social services, environment and health. To this end, it pools the charitable gifts of many donors to create permanent income-earning endowment funds which are carefully and professionally managed by the Foundation.

The Foundation offers donors many options. Some donors opt to create their own fund dedicated to the field of interest or organization of their choice, while others leave it up to the FGM to determine how the funds could best be distributed to address community issues and needs. Charitable organizations may also choose to have their endowment fund managed by the FGM.

By calling on community foundations such as the FGM to help implement the Placements Culture program, the Government of Quebec is taking full advantage of our experience and knowledge in the area of philanthropy. Cultural organizations will also benefit from the trust the FGM has earned from members of the business community and philanthropists.

"In Quebec, we are currently seeing some solid growth in philanthropy. Thanks to the FGM, this new philanthropy is finding its way in all sectors of the community," said Kathleen Weil, President and CEO of the Foundation. Several of the city's large cultural institutions have already entrusted the Foundation with the management of their endowment funds, among them, the Théâtre du Nouveau Monde (TNM), Théâtre Jean Duceppe and The National Theatre School. Others have also taken steps in this direction.

The Placements Culture program will draw the attention of donors to the needs of cultural organizations of all shapes and sizes, from a large-scale theatre company to a small dance troupe. The Foundation of Greater Montreal will be an active promoter of the program, and will oversee the sound management of the funds that will help give cultural organizations the freedom they need to focus on their art.

Information:

Kathleen Weil
President and CEO, Foundation of Greater Montreal
514 866-0808