Montreal, May 20, 2025 – The Foundation of Greater Montréal (FGM) held its annual general meeting today. With more than $483 million in assets under management across 800 philanthropic funds, FGM has maintained its position as the largest community foundation in Quebec and the sixth largest in Canada. In 2024, it distributed more than $17 million to 531 organizations and initiatives in the Greater Montreal area in all sectors.

Over the course of the year, donations and contributions to the Foundation totalled nearly $33 million. Thanks to the community’s generosity and our Investment Fund’s robust 16.1% rate of return, the Foundation remains in excellent financial health, maintaining our capacity to serve the community. This brings our investment portfolio’s five-year annualized rate of return to 7.16%.

Changes to our Board of Directors

At the meeting, the Foundation’s members re-elected Board member and Investment Committee Chair Valérie Cecchini for a second three-year term, and elected two new Board members to succeed those whose terms have come to a close.

Claudine Gagnon currently leads the Communities and Social Performance team at Rio Tinto Atlantic, where she oversees Indigenous economic reconciliation, community and stakeholder relations, strategic social risk management, and employee engagement. She also chairs the Rio Tinto Canada Fund, where she manages community donations and employee volunteering for Rio Tinto Atlantic.

Élise Proulx has been Vice President, Social Infrastructure Development at CDPQ Infra. She has also held various key positions at Ivanhoé Cambridge and Hydro-Québec, in addition to founding her own public relations firm. Winner of the 2018 “Mercure – Relève, Femme d’exception – Grande entreprise” award, she also serves on the boards of Montréal International and Fitspirit.

Quotes

“FGM aspires to build a community free from poverty and discrimination, where everyone can fulfill their potential in a healthy environment—today and into the future. These words are more than a vision statement: they are our commitment to the communities of Greater Montreal. We have continued to make progress in this direction this year. Now, as the Foundation celebrates its 25th anniversary, we aim to further deepen our impact,” said Karen Macdonald, Chair of the Board of Directors.

“FGM’s philanthropic practices strive to be transformative. They are designed to equip communities to take action on the systemic factors behind issues, and not just their consequences. The idea is to push the boundaries of philanthropy to deliver a more concrete and lasting impact, rather than merely distributing money,” added President and CEO Karel Mayrand.

“I would like to thank our two outgoing Board members for their dedication and outstanding contributions to FGM over the past decade: Suzanne Gouin, Chair of the Governance and Human Resources Committee, and Diane Tsonos, Chair of the Community Engagement Committee. Suzanne and Diane have been two pillars of the Board. FGM has been able to draw on their insight as we rethink our methods in a constant effort to better serve the communities of Greater Montreal.

In closing, I would also like to acknowledge the key roles FGM’s new honorary members have played in the history of the Foundation: Tim Brodhead, Robert Kleinman, and Michael Weil, all three signatories of the letters patent and members of the very first Board of Directors; Kathleen Weil, FGM’s first CEO; Richard Pound, Chair of the Board of Directors from 2010 to 2015; and Kathy Fazel, Chair of the Board of Directors from 2021 to 2023. It is also thanks to you that the Foundation of Greater Montréal has become what it is today,” concluded Karen Macdonald.

Visit FGM’s website for the complete listing of our Board of Directors and Committees for 2025-2026. At our general meeting, FGM members and partners were also presented with the financial results of the FGM Investment Fund and an overview of the Foundation’s activities in 2024. To find out more about the Foundation’s work and our impact in the community, please see FGM’s Annual Report.

 

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Source: Foundation of Greater Montréal
For further information: Simon Delorme, Communications and Public Relations Advisor
simon.delorme@fgmtl.org / (514) 866-0808, ext. 107

About FGM
The Foundation of Greater Montréal is committed to serving and listening to our community. In collaboration with our partners, we deploy philanthropic resources, disseminate knowledge and spark initiatives to support the Greater Montreal community. FGM aspires to build a community free from poverty and discrimination, where everyone can fulfill their potential in a healthy environment—today and into the future. Website: fgmtl.org