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Press Release: The Paul A. Fournier Foundation donates over $16M in assets to the Foundation of Greater Montréal



 
Montréal, March 26, 2018 — The Foundation of Greater Montréal (FGM) is proud to announce the creation of a fund, known as the Paul A. Fournier Foundation Fund, which will be used for the causes of poverty elimination, education, scientific and medical research and youth entrepreneurship as well as the study of geriatrics and gerontology. By deciding to donate its more than $16 million in assets, the directors and members of the Paul A. Fournier Foundation will be pursuing their original mission through a new outlet. Responsibility for investment management, administration and grants from fund revenues will now fall to the FGM. “Calling on the FGM’s services enables us to continue our mission with serenity and confidence,” notes René Leroux, former PAFF chairman.
 
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“We are proud of the Paul A. Fournier Foundation directors’ and members’ commitment and I thank them for placing their trust in us,” said Yvan Gauthier, FGM president and CEO. “The FGM is a powerful philanthropic tool with wide-ranging expertise in investment management, fund administration and active philanthropic engagement in the community.” The FGM received a total of $35.9 million in donations in 2017, boosting its investment fund assets to $254 million and its total net assets to $292 million. The FGM’s investment fund posted a 9.6% gain in 2017, with an annualized return of 9.02% over five years. Between 2013 and 2017, funds under management by the FGM indeed increased significantly from $158.6 million to $292 million; meanwhile, the number of funds and foundations under FGM management rose from 407to 555.
 

 
From left to right: Yvan Gauthier, FGM President and CEO; Jacques Marchand, former PAFF Director; René Leroux, former PAFF Chairman; the Honourable Jean-François de Grandpré, FGM Chairman; Robert Coulombe, former PAFF CEO; and Laurent Giguère, FGM Treasurer.
 
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About the Foundation of Greater Montréal (FGM)
The FGM mobilizes individuals, families and organizations to support their community by creating funds for selected causes in all sectors. The FGM grows the funds’ assets, guides donors by identifying key issues and supports dynamic community stakeholders. It also encourages philanthropy as a major driver of well-being throughout Greater Montréal.
 
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Hélène Latreille
Director, Philanthropic development
Foundation of Greater Montréal
51-866-0808, ext. 106
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Corinne Adélakoun
Communications Director
Foundation of Greater Montréal
514-866-0808, ext.109
 







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