FGM's Assets Under Management Surpass $300 Million
- FGM released its 2018 annual report, which can be downloaded here.
- FGM’s assets under management reached $308 million at December 31, 2018.
- Contributions approached $40.6 million in 2018.
- The FGM investment fund’s average gross return over 10 years is now 7.6%.
- FGM funds distributed more than $8.5 million in grants to 467 organizations in 2018.
- A record 111 new funds have been created at FGM last year, bringing the total over 650.
Montréal, May 29, 2019 – In parallel with the publication of its 2018 annual report and as its 20-year anniversary grows nearer, the Foundation of Greater Montréal (FGM) is pleased to announce that it has reached a new milestone in its development. Surpassing the $300 million dollar mark in 2018, assets under management reached $308 million at December 31 according to the organization’s latest financial statements.
This increase is mainly due to contributions of almost $40.6 million in 2018. Thanks to the commitment of the Foundation's donors, contributions received over the last three years amount to more than $145 million.
“FGM continues to grow thanks to significant donations from fund holders, which in some cases are paired with government or internal matching programs. Destined for sports, cultural and now educational organizations, these funds allow for long-term investments for their benefit,” said FGM President and CEO Yvan Gauthier.
A record 111 new funds were created in 2018, bringing the Foundation’s total active funds to more than 650.
“We’re on track to achieving the objectives in our Strategic Plan 2018-2021 to create more funds and to develop our financial capital. We’re proud of our accomplishments and plan to continue our work in this regard,” added Mr. Gauthier.
In 2018, FGM awarded more than $8.5 million in grants to 467 organizations that support the community in a wide range of areas that include food security, medical research, education, the arts, universal accessibility, homelessness and environmental stewardship. In the past three years, close to $30 million has been distributed for the well-being of Greater Montréal’s citizens.
The Foundation of Greater Montréal (FGM) helps individuals, families and organizations to get involved and support their community by creating funds for selected causes in all sectors. In addition to publishing the Vital Signs of Greater Montréal report, FGM manages the assets of over 650 funds, guides donors by identifying key issues and supports community organizations. A member of the Community Foundations of Canada, a network of 191 community foundations, FGM encourages philanthropy as a major driver for well-being in Greater Montréal.
Source: Foundation of Greater Montréal
Simon L. Delorme
Project Manager - Communications
514 866-0808, extension 107