The Ireland Funds increased its grant giving by nearly tenfold in 2010 to almost $41 million, according to its latest returns to the US Internal Revenue authorities.
Grants totalling $40,737,313 were given to a variety of charitable causes, mostly in the area of community development. Of the total distributed, just over $39 million went to ‘Europe, Iceland and Greenland,’ with causes in Ireland the main recipients. $1.5 million was given to organisations in the United States.
At the recent New York Gala of the Worldwide Ireland Funds’ President and CEO, Kieran McLoughlin, announced that the Promising Ireland campaign – a philanthropic initiative to raise $100 million for charities from among the Funds’ global network in 12 countries by the end of 2013 – had not only reached its goal 19 months ahead of schedule but had also exceeded its target. Mr. McLoughlin revealed that the campaign total now stands at over $120 million.
The New York Gala at the beginning of the month was the biggest fundraising dinner in the history of the Ireland Funds raising $4.3 million. The accounts show that the Funds’ raise substantial income from major galas in a number of US cities.
The returns to the Inland Revenue also provided details of the Funds’ expenses, with the current President and CEO earning $478,000 while the former CEO, Kingsley Aiken, earned $451,000 in salary and fees.
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