An impact philanthropy rooted in communities

FGM’s Annual Report – A word from the President and CEO

For the Foundation of Greater Montréal, 2023 was a year of consolidation. Over the months, we made progress on several of the major areas of action set out in our 2022-2026 Strategic Plan.

We continued to integrate trust-based philanthropy principles into our granting practices, notably in the latest granting cycle of the Collective Fund for Social Equity. This Fund enabled us to support several organizations working to take in, integrate and defend the rights of asylum seekers, refugees, and migrants without status, or with temporary or precarious status, tens of thousands of whom arrived in Greater Montreal over the course of the year. Thanks to the support of our partners, more than $2.8 million will be distributed between now and 2026 to meet this challenge, one of the most formidable our community currently faces.

As part of our global efforts to address issues of justice, equity, diversity and inclusion, we have also adopted a roadmap to guide our organization along the path toward reconciliation with the First Peoples. In collaboration with other Montreal foundations, we continue to work towards reconciliation with the region’s Indigenous communities.

On the financial front, we deployed our first-ever impact investments, which, while generating the income we seek, will also support the health of women and children around the world, as well as the construction of affordable housing across Canada. Contributions to the Foundation are also on the rise, reaching more than $41 million in 2023. And with a gross annual rate of return of 11.2 % on its Investment Fund, FGM remains in an excellent position to maintain its capacity for action.

We have also benefitted from numerous forums to highlight the role of philanthropy, and of the transformative practices we champion. We are increasingly called upon to demystify philanthropy, how it works, its strengths, but also its blind spots. We have also reached out and opened our doors to new philanthropists from all walks of life. Many individuals from communities historically neglected by philanthropy now work with FGM to bring their projects to life and support their communities. We are also striving to strengthen our ties with our existing fund creators, without whom the Foundation could never have become what it is today.

In short, we have continued to implement our vision of impact philanthropy rooted in communities, and to utilize our capital to sustain our mission. We aspire to transform philanthropy, and push it to go further and support the emergence of the systemic changes that Greater Montreal needs to become a community free of poverty and discrimination, where all can realize their potential and live in a healthy environment, now and in the future. FGM’s 25th anniversary is also rapidly approaching, and we intend to seize this opportunity to accelerate its development and impact in our community.

Our 2023 Annual Report reflects our work over the past year, as well as our values and vision for Greater Montreal, and I hope you enjoy reading it. Thank you for your support!

Karel Mayrand
President and CEO
Foundation of Greater Montréal