Bank of Montreal 1998 Annual Report Download - page 16

This means more than giving
money to charity. It means pro-
viding good jobs for thousands
of people, paying hundreds
of millions of dollars in taxes,
buying billions of dollars in
goods and services from local
suppliers and creating a
culture that encourages people
to get involved. This is a look
at what Bank of Montreal, and
its employees, give back:
DONATIONS
Bank of Montreal is one
of Canada’s top five corporate
donors, giving a total of
$18 million to charity in 1998.
Donations are made to over
2,000 different charities, with
a particular emphasis on health
and education, including
84 hospitals and 56 universities
and colleges.
Bank of Montreal employees
gave another $2 million in 1998
through their fundraising efforts
and personal donations.
Over the years, the Bank
of Montreal Group of Companies
has formed a number of long-
term relationships with charitable
organizations. Since 1994,
for example, we have donated
millions to the United Way,
including $4.6 million from
Nesbitt Burns, US$5.6 million
from Harris Bank and $6.3 mil-
lion from Bank of Montreal.
Since becoming a founding spon-
sor in 1989, Bank of Montreal
has donated over $1 million to
Kids Help Phone.
PART OF THE
COMMUNITY
Over 45,000 non-profit orga-
ni
zations, 562,000 seniors and
383,000 youth receive free
banking plans through Bank
of Montreal. Our branches also
act as collection sites during
emergency relief efforts. Combined
with corporate contributions, the
Bank collected over $375,000
during the 1998 ice storm and
$818,000 during the Manitoba
flood of 1997.
SPONSORSHIPS
Bank of Montreal is the principal
sponsor of the Canadian Figure
Skating Championships, as well
as the Sectional and Divisional
competitions. Our support
extends to the Canadian Figure
Skating Association’s Learn-to-
Skate programs, reaching more
than 200,000 Canadians in
1,500 clubs across the country.
Among its many programs, rang-
ing from the arts to grassroots
community initiatives, the Bank
supports the Canadian Woman
Entrepreneur of the Year Awards,
the Stratford Festival, the Girl
Guides of Canada and hundreds
of others.
SUPPORTING
EDUCATION AND
STUDENTS
We have committed $12 million
to post-secondary institutions
across the country including over
$7 million to provide schol-
arships and bursaries to students
across Canada. Harris Bank sup-
ports two Illinois universities with
pledges totalling US$200,000.
In addition, we provided over
960 computers to more than
100 schools and community
organizations.
Bank of Montreal also matches
the donations our employees
make to their favourite universities
and degree-granting institutions,
for a combined contribution
of over $1 million to date.
SHARING EXPERTISE
In 1998, a scholarship program
designed for visible minority
and aboriginal youth, as well as
students with disabilities,
enabled 65 Grade 12 students
across Canada to work one
day a week during the school
year with Bank of Montreal.
Upon graduation, the students
receive a $1,000 scholarship
to pursue their education.
MAKING TIME
Many of our employees and
virtually all of our executives and
branch managers volunteer their
time to thousands of charities,
local boards and non-profit orga-
nizations. The Bank’s Volunteer
Grants Program provides
$500,000 a year to the charities
to which our employees actively
donate their time.
PART OF THE ECONOMY
As one of Canada’s largest com
pa-
nies, we spent nearly $1.9 billion
in 1998 to purchase goods
and services from thousands of
Canadian suppliers across the
country. Economists estimate that
this spending contributes to
the creation of about 30,000
jobs – many in small businesses.
SUPPORTING
OUR CLIENTS
Every dollar taken in through
personal and commercial deposits
in Canada is lent back to
individuals and businesses in
Canada. Bank of Montreal
provided $63.7 billion to individu-
als and small and medium-sized
businesses in 1998.
FINANCIAL SUCCESS
Strong financial performance is
good news to the millions of
Canadians who own bank shares,
our 33,400 employees who
earned $2.6 billion in salaries
and benefits in 1998, and all
levels of government.
Earnings reinvested in the
business go to technology
spending, employee training and
product development, among
other things.
989796959493
CORPORATE SPENDING
($ millions) 1,874
1,723
1,38 8
1,324
1,148
994
12
BANK OF MONTREAL GROUP OF COMPANIES
GIVING BACK TAKING PART
AT BANK OF MONTREAL, WE HAVE ALWAYS BELIEVED WE HAVE A
RESPONSIBILITY TO BE ACTIVE PARTICIPANTS IN EACH OF THE HUNDREDS OF
COMMUNITIES IN CANADA AND THE UNITED STATES WHERE WE DO BUSINESS.
989796959493
CORPORATE DONATIONS
($ millions)
8.4 9.7 10.3 10.5
17.0 18.0
Civic causes
(such as YMCA)
Miscellaneous
Hospitals/
healthcare
12.8%
14.2%
28.1%
6.4%
37.3%
1.2 %
Education
Culture
Federated appeals
(such as United Way)
WHERE THE MONEY GOES
Government taxes and levies
49%
30%
21%
Dividends to shareholders
Reinvested in the business
WHERE PROFITS* GO
* Net income before taxes
and levies