Philanthropy: not just for the elite

A word from FGM – October 2023

Is philanthropy a privilege reserved for the elite few? Not at all! Sharing, generosity and solidarity are universal values: we see them in action in all settings, in all cultures, in every era. The vast majority of us, whatever our personal situation, means or preferred causes, can in some way act philanthropically. Any such project, regardless of its scope, adds value to society and deserves support. At the Foundation of Greater Montréal, our raison d’être is, indeed, the democratization of philanthropy. So how do we go about it?

Deciding what to donate, how, when and to whom is not easy. Should one do it through an endowment fund operating in perpetuity, or a limited-term philanthropic fund? By outright donation, or planned gift in a will? Should one donate cash, or shares, or give via a life insurance policy? Support a single organization, a group of organizations, or contribute to a collective fund? It can be difficult to sort out. That is why community foundations like FGM provide a fund creation service that is simple and quick, but flexible and personalized too. Our team of professionals will help you better define your philanthropic vision and maximize its impact, for your benefit and that of the community.

Make the most out of your philanthropic experience

As you work through your decisions, the advice of your accountant, tax specialist, financial advisor or portfolio manager will be vital. Their expertise will enable to you optimize the tax advantages associated with your charitable donations, allowing you to get the most out of your assets. Whether you want to pay tribute to a dear one who has passed away, create a scholarship or a cultural award, support a hospital, an academic institution or a museum that matters to you, or simply “give back” to help resolve issues that affect your community, you can have a greater impact than you might imagine.

Starting now, you can invest a portion of your assets and make them go to work for your community, without having to take care of the legal and administrative aspects. You will have the satisfaction of seeing, over time, the tangible impact of your generosity on the collective good. You can also, by putting a planned gift in your will, leave a significant legacy and support the long-term development and well-being of your community, without having to draw on your current financial resources nor on those of your estate. It’s another way of making your mark.

We invite you to contact your financial professional and start a conversation on philanthropy, to see what options are open to you and how you can have FGM assist you in reaching your financial and charitable goals. Our team will be there to guide you. After all, the Foundation of Greater Montréal is your foundation.

Linda Tchombé
Director of Philanthropic Development
Foundation of Greater Montréal