Transforming philanthropy

2022 Annual Report – A word from the Chair of the Board

In 2022, the Foundation of Greater Montréal embarked on the first leg of its new Strategic Plan, which we will deploy until 2026. In developing the plan, FGM reconsidered its vision, mission and values so as to better represent and better serve the Greater Montreal community. Our President and CEO Karel Mayrand goes into more detail, in his own post, about the actions taken by the Foundation this year in order to make that happen. You will also see, as you flip through the Annual Report you can find below, how FGM has continued to make a remarkable difference throughout our community.

More than ever, the Foundation is demonstrating ambitious leadership, and leading by example, especially as it updates its own practices. Whether in the way it manages and grows its assets, in the way it offers support to community organizations or in the way it uses its influence to amplify the voices we don’t generally hear, FGM is at the forefront of the transformation that is occurring in the way philanthropy is practiced in Montreal, Quebec and Canada.

On the economic front, we can’t ignore the fact that the recent slowdown, and in particular its impact on the stock market, has had a definite effect on the Foundation’s operations. As we looked ahead to 2023, we saw right away that we had some major challenges ahead of us. But the FGM team passed this test with flying colours, and will no doubt continue to skillfully manage the Foundation’s affairs. I want to highlight their unrelenting efforts. Thanks to the hard work and commitment of each and every team member, we will continue to adapt and to support those who are most in need, notwithstanding challenging headwinds.

On a more personal note: the time has come for me to pass the torch. I feel privileged to have been a member of the Foundation’s Board of Directors over the last seven years, and to have contributed to the realization of its objectives. I am especially proud of what we have accomplished together over the last two years, during which I served as Chair of the Board.

Since 2020 and despite the pandemic, FGM has, among other achievements, created a new strategic plan and put in place a philanthropic development committee, as well as a responsible investment strategy and an action plan in the area of justice, equity, diversity and inclusion. As well, as the year came to an end, we named a new portfolio manager, who will help us reach our goals in terms of impact investing between now and 2026. All of these new tools dovetail with the innovative orientations the Foundation has embarked on, and its position as a leader in the philanthropic sector.

Allow me in closing to thank all of the members of the Board, of its committees and all the staff members I have had the opportunity to work with during my service, as well as everyone who, in one way or another, supports the Foundation. It has been a unique experience, and an incomparable pleasure, to work alongside you in order to further the development and well-being of our community. I am pleased to be able to take my leave at a moment when the “house is in order” and the organization is in good health, blessed with a committed team capable of great things. I have no doubt that FGM will continue to assist in, inspire and work for positive change in Greater Montreal. Thank you, and see you soon!

Kathy Fazel
Chair of the Board of Directors
Foundation of Greater Montréal