Contributions from individuals directly to the Funds and through donor advised funds was down from $18.6 million to just under $10 million. Net income from fundraising events was €7.8 million, a drop of over $1 million from the year before. The gross income from events in 2016 was $11.5 million.
The fundraising events are mainly high profile gala balls in cities such as New York and Washington DC where prominent figures from the Irish government and Irish American society usually attend.
Total grants and ‘programmes services’ in 2016 came to $15.8 million, a fall of nearly $10 million on the year before. The Ireland Funds gave out 800 grants last year to 336 projects, mainly through its Small Grant Round for projects under €7000 and its Flagship Grant programme which provides multi-year funding up to €50,000.
The Funds spent $1.8 million on administration last year and $1.7 million on fundraising, up nearly 10% on the year before. Net assets stood at $14 million.
The Ireland Funds is chaired by Irish American hotelier John Fitzpatrick. Two years ago the Funds closed its ‘Promising Ireland’ campaign which raised $226 million.
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