A word from FGM – Special Edition

Dear Foundation of Greater Montréal community,

I have just announced that my term as FGM’s President and CEO will end on August 15. After five eventful years, and a strong feeling of accomplishment, I have decided to continue my commitment to our community with another great Montreal philanthropic institution, the Trottier Family Foundation.

Five years of accomplishments

As I close this professional chapter, I am first and foremost filled with a sense of gratitude and pride in what we have achieved together. The Foundation of Greater Montréal team has accomplished a lot since my arrival in 2020. There has been the pandemic of course, through which we had to revolutionize our methods to better serve entire communities that were facing an unprecedented crisis. As part of this process, we also reflected on our mission, our goals and our values. We aimed to act with greater intentionality. We strived to increase our impact as a community foundation. And we chose to innovate and create new ways of doing things, to realize this vision and position ourselves at the forefront of the movement to transform philanthropy.

We developed and implemented a new strategic plan for the organization; a JEDI action plan to structure our efforts in terms of justice, equity, diversity and inclusion; a roadmap towards Reconciliation to shape the decolonization of our methods and offer relevant support to local Indigenous communities; a strategic framework to clarify the principles that guide our distributions and kickstart a shift towards trust-based philanthropy; a responsible investment strategy to better align our portfolio with our values; as well as a sub-committee and new policy on impact investing to make our assets work for – and not against – our philanthropic action.

These orientations are not mere documents. They are commitments that FGM has taken towards our communities, towards our partners, towards our territory, towards future generations, and towards itself. These tools will allow the Foundation, as it transforms its philanthropic and business model, to better answer the many challenges the Greater Montreal community will have to face in the coming years and decades.

A Foundation looking to the future

I am proud to leave the house in order, in excellent financial health, and in the hands of a fully committed, talented and caring team. Over the last five years, the assets under FGM management have grown from $345 to $484 million. The average annual rate of return of our Investment Fund has reached 7.16%, including a record-setting 16.1% in 2024. The Foundation has been ranked the 11th most equitable foundation in Canada last year. And it reduced the carbon footprint of its investment portfolio by 50% in only three years. What we stand for is not going to change, because FGM’s orientations are the reflection of the needs and aspirations of the people and communities we serve.

Therefore, it is with the utmost confidence that I am stepping down and passing the baton to Marie-Andrée Farmer, our Director of Strategic Initiatives and Community Partnerships. Having been a unanimous choice and with the wholehearted support of the Board of Directors, Marie-Andrée will stand as Acting President and CEO. I am convinced that she will ensure the continuity of our operations with discipline and determination, until the Board recruits the next person that will hold the great privilege of leading the Foundation into its next chapter.

Even though I am leaving serenely, it is still hard to say goodbye. I want to thank every person who gravitates around the great community hub that FGM has become: fund creators, nonprofits and community organizations, concertation tables, colleagues of the philanthropic world, public and private partners, current and former members of the Board and committees, and of course every FGM staff member. Everything I learned working at your side constitutes an invaluable treasure that I will carry with me moving forward.

From the bottom of my heart, thank you, and goodbye!

Karel Mayrand
President and CEO