Bank of Montreal 1999 Annual Report Download - page 21

Bank of Montreal Group of Companies 1999 Annual Report 19
In 1999, Bank of Montreal ranked as one of Canada’s top corporate donors
and we are proud of the direct financial contributions we make. But
our commitment runs deeper than giving money. We believe in being
active participants in the communities we serve.
Our Community
Donations
In 1999, the Bank of Montreal Group
of Companies contributed $18.5 million
to support charities and not-for-profit
organizations. Our commitment to
the support of community-based social
services through the United Way in
both Canada and the United States is
longstanding. Since 1994, the United Way
has received $7.7 million from Bank of
Montreal, $5.5 million from Nesbitt Burns,
and US$3.8 million from Harris Bank.
Focus on Education
To fund our belief in the opportunities
created by access to lifelong learning,
Bank of Montreal has pledged more than
$10 million to Canadian post-secondary
institutions
– including $7.7 million to
fund scholarships and bursaries.
Through our Matching Gift Program,
we support employees who make
donations to their favourite universities
and, starting this year, community
colleges. With the Bank matching the
contributions made by our employees
in fiscal 1999, the total contribution
exceeded $300,000.
Health Care
In 1999, the Bank pledged close to
$2 million to hospitals and health care
charities across Canada, including a
$750,000 donation to establish the Bank
of Montreal Laboratory for the Preven-
tion and Treatment of Coronary and Heart
Disease in Women at Jewish General
Hospital in Montreal. A major donation
also founded Galaxy 12, the Bank
of Montreal Child and Teen Clinic at the
Rouge Valley Health System in Scar-
borough, Ontario, providing ambulatory
health care for youth.
Employee Involvement
For the first time, employee fundraising
initiatives across Canada have been
unified into one foundation, the Fountain
of Hope. Managed by and for the
25,000 employees of Bank of Montreal
in Canada, they donated more than
$2 million to charities in fiscal 1999.
Bank of Montreal is committed
to helping employees make a difference
through volunteer activities. Each year,
thousands of Bank employees, and
almost all of our executives, donate their
time and energy to charities, local
boards and non-profit organizations. The
Bank encourages these efforts through
special work-schedule provisions,
including flexible working hours and
short-term leaves of absence.
Volunteer Grants
The Bank also helps fund the volunteer
activities of employees and pensioners
through the Volunteer Grants program,
now in its fourth year. In 1999, the Bank
contributed over $500,000 to support
more than 300 charitable and community-
b
ased activities in Canada, including
local hockey, soccer and baseball teams,
food banks, shelters, seniors’ homes
and hospital auxiliaries.
Community Programs
This year, the Bank created and distrib-
uted more than 5,000 customized financial
education kits to Girl Guide units across
Canada. The kits are designed to help
girls between the ages of nine
and 12
enhance their understanding of
money
through a game format.
Sponsorships
Bank of Montreal supports the community
through a wide range of sponsorship
programs, ranging from performing arts
to sports, literary awards, business
recognition awards and youth programs.
Figure skating is one of the Bank’s
most significant sponsorships. The Bank
is the principal sponsor of the Canadian
Figure Skating Championships, as well as
the Sectional and Divisional competitions.
The Bank also supports the Canadian
Figure Skating Association’s learn-to-
skate programs, which provide instruction
to more than 200,000 Canadians in
1,500 clubs across Canada.
Bank of Montreal is a founding spon-
sor of Kids Help Phone, Canada’s only
national, 24-hour counselling and referral
service for children and youth. The Bank
L’@venue
Another community-based initiative was
accomplished by partnering with L’@venue, a local not-
f
or-profit organization in Montreal. The Bank donated
45 computers and a former branch building to be used
as a community Internet centre to help young people
develop employment skills. Since the Internet Café
opened, L’@venue has attracted 2,680 active members
and trained almost 1,000 people.
Where the Money Goes
Where Profits*Go
sponsored the Snowsuit Fund Festival
of Skating in Ottawa that raised funds to
purchase and distribute snowsuits to
needy children. We continued support of
local events such as Spruce Meadows
in Calgary, the Royal Agricultural Winter
Fair in Toronto and the Calgary Stampede.
Giving Back
Bank of Montreal serves its communities
in other ways as well. More than 550,000
seniors, 380,000 students and 50,000
not-for-profit organizations receive free
banking services.
Civic Causes/
Community
(such as YMCA)
Miscellaneous
Hospitals/
Health Care
10.4%
14.7 %
27.4%
8.9%
33.6%
5.0%
Education
Culture
Federated Appeals
(such as United Way)
Government taxes and levies
46%
23%
31%
Dividends to shareholders
Reinvested in the business
*Net income before taxes, levies and goodwill