Annual Meeting : Robust growth and an ambitious vision for FGM

Montreal, May 22, 2024 – The Foundation of Greater Montréal (FGM) held its Annual General Meeting yesterday. Among the highlights: the Foundation’s members were presented with its financial results and an overview of its activity in 2023. To find out more about the Foundation’s work and its impact in the community, please see FGM’s Annual Report.

Now holding more than $414M in assets under management, distributed over 781 philanthropic funds, the Foundation of Greater Montréal remains the largest community foundation in Quebec. In 2023, it distributed more than $33M to 624 non-profit organizations in Greater Montreal, organizations that were active in all sectors, from culture to health to ecological transition, social equity, education, reconciliation with First Peoples and many more.

“The Foundation, by virtue of its key position at the intersection of the philanthropic, economic, community and institutional sectors of Greater Montreal, and its ability to mobilize, plays a critical leadership role”, stated Karen Macdonald, Chair of the Board of Directors. “At a time when issues relating to justice, equity, diversity and inclusion are finally getting the attention they deserve; when people’s needs are increasing as gaps resulting from social and economic inequalities widen; and when the consequences of climate change are impacting more and more individuals; our community needs to be able to count on the creativity, generosity and commitment of everybody, without leaving anyone behind. FGM’s role is to be a catalyst for that energy towards the enhancement of our community’s well-being.”

“The Foundation of Greater Montréal strives to implement its vision of impact philanthropy rooted in communities, and deploy all of its capital to bring its mission to fruition, in particular through its Responsible Investment Strategy. As well, using innovative approaches like trust-based philanthropy, we aspire to transform philanthropy and use it as a lever to foster the development of the systemic changes that Greater Montreal needs in order to become the community we truly deserve”, added President and CEO Karel Mayrand.

In 2023, donations and other contributions to the Foundation amounted to more than $41M. Thanks to this generosity shown by our community, and a solid gross rate of return of 11.2% earned by its Investment Fund, the Foundation remains in excellent financial health and thus maintains its capacity to act on behalf of the community. Over five years, its investment portfolio’s annualized gross rate of return now stands at 6.37%.

At the Annual General Meeting, FGM members also elected new directors to serve on the Foundation’s Board; they will succeed those whose term has come to a close. Three new administrators thus joined the FGM’s Board: Philippe Meilleur, Anick Morin and Raff Paquin. Ms. Morin will also act as secretary of the Board.

Philippe Tsaronséré Meilleur is a dedicated leader and defender of Indigenous rights, and particularly of urban Indigenous communities. He is currently the executive director of Native Montreal, where he launched many initiatives aiming to improve the holistic health, cultural power and success of Indigenous families living in urban settings. He is also the president of the Regroupement des centres d’amitié autochtones du Québec (a coalition of Native Friendship Centres), where he advocates for the inclusion and well-being of Indigenous persons in urban spaces.

Anick Morin is a lawyer with more than 25 years of experience in private practice and as in-house counsel in asset management, securities, as well as corporate and commercial law. She is the founder of AM Legal and Compliance Solutions, where she provides practical legal advice and compliance support in the asset management industry, notably to portfolio managers, dealers and investment fund managers. She holds a Civil and Common Law degree from McGill University and is a member of the Québec Bar.

Raff Paquin is a tech entrepreneur and innovator, currently serving as the CTO at Altitude-Sports.com. He played hands-on roles in the growth of some of the most successful Canadian companies. Passionate about new ventures, Raff advises and invests in many startups, locally and internationally. He also volunteered with the World Bank Group to develop entrepreneurship ecosystems in the Caribbean. Holding a master’s degree from the University of Oxford, he is deeply interested in how the Internet shapes our society.

“I welcome the arrival of new directors to the Board. They will bolster the work we do, given the diversity and richness of the paths they have taken, their experience and their expertise. I would also like to sincerely thank, for their commitment and tireless work over the past few years, the outgoing directors: Kathy Fazel, Eric Lapierre and Angelina Mehta. And in closing, let me highlight the immense contribution of Mr. Laurent Giguère, who has supported the Foundation in many capacities over the last ten or so years. It is with the utmost gratitude that we named Laurent as an honorary FGM member today”, Karen Macdonald stated.

Visit FGM’s web site to view a complete listing of the Board of Directors and the Foundation’s Committees for 2024-2025.

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Source: Foundation of Greater Montréal
For more information: Simon Delorme, communications and public relations advisor
simon.delorme@fgmtl.org / (514) 866-0808, ext. 107

About FGM
The Foundation of Greater Montréal (FGM) serves, and listens to, its community. In collaboration with its partners, it mobilizes philanthropic resources, disseminates knowledge, sparks new initiatives, and supports the community, with a view to furthering the United Nations’ Sustainable Development Goals in Greater Montreal. FGM aspires to the development of a community that will be free from poverty and discrimination, where all can realize their potential and live in a healthy environment, both today and in the future. Website: fgmtl.org