The Foundation of Greater Montreal, a Leader in the Philanthropic Arena



    MONTREAL, June 12 /CNW Telbec/ - At its Annual General Meeting, held
today, the Foundation of Greater Montreal (FGM) presented a very positive
assessment of its fiscal year 2007, marked by an exceptional expansion of its
outreach. In a very short time, the FGM has become one of the 10 largest
community foundations in Canada.
    Taking a look at the numbers, 17 new private funds and 17 new
organizational endowment funds have been established, bringing the total
assets managed by the FGM to $87 million, including $44 million in owned
assets. Some 100 other donors have contributed to existing funds,
demonstrating that trust in the FGM is broad-based. "In the eyes of donors, a
community foundation provides an effective long-term means to contribute to
improving the quality of life around them because the capital of their gift is
preserved for all time, said Kathleen Weil, President and Chief Executive
Officer. Several donors also see this as an opportunity to involve the whole
family, a way to make their children aware of the needs of others and to come
together around an exciting community endeavour."
    Thanks to the continued growth of its assets, the Foundation was able to
provide over $2 million in grants this year, benefiting more than 100
organizations active in every sector of the community. These figures reflect
the Foundation's growing influence in Montreal's philanthropic arena as well
as the leadership role that a community foundation can play in an urban
environment.
    Alex K. Paterson, Chairman of the Board took the opportunity to introduce
three new Board members, whose experience and expertise will undoubtedly
contribute to the Foundation's growth. They are Pierre Comtois, President and
Chief Executive Officer, Optimum Asset Management Inc.; Joseph Iannicelli,
President and Chief Executive Officer, The Standard Life Assurance Company of
Canada; and Robert Tessier, Chairman of the Board at Gaz Métropolitain. He
also expressed his gratitude to outgoing Board members André Chagnon, Brian
Levitt and Hélène Wavroch for their valuable contributions.

    The Foundation of Greater Montreal is a non-profit charitable
organization dedicated to the well-being of the Greater Montreal community. It
builds and manages permanent endowment funds and distributes the income in the
form of grants to charitable organizations working in the areas of health,
social services, arts and culture, education, and the environment.
    On November 7-9, the FGM will host the CFC Conference 2008, Our
Communities, Our World, which will bring to Montreal representatives of
community foundations and leaders of philanthropic entities from all over the
world.




For further information:

For further information: Kathleen Weil, Foundation of Greater Montreal,
(514) 866-0808 ext. 101, kathleen.weil@fgmtl.org

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Foundation of Greater Montréal

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