JP McManus increases giving to over €2 million
Howard Lake | 15 October 2018 | News
One of Ireland’s richest men, JP McManus, increased his charitable giving to €2.2 million last year, up from €1.7 million the year before, according to the charity’s latest accounts.
The directors say in the accounts that they expect the present level of activity to continue for the foreseeable future. Mr McManus last month donated €100,000, (bringing it to €3.2 million in total), to every Gaelic Athletic Association county board in Ireland, to be divided equally among their local clubs.
According to a report in the Irish Times, the Fund’s objectives are:
- providing relief for poverty
- treatment for the disabled
- care for the terminally ill
- drug abuse prevention
- human rights
- and job creation.
On the charity’s website giving is listed under the headings of:
- education
- healthcare
- communit
- and local infrastructure.
The charity is run by Mr McManus’s wife, Noreen McManus, and his daughter, Sue-Ann Foley. The other directors are listed as Declan Moylan, P Gerard Boland, and Mark Power.
The company, which is exempt from income tax, corporation tax, capital gains tax and deposit interest retention tax, had total funds of €51.3 million at the end of the year, an increase from €47.8 million the year before. Despite Mr McManus’s charitable giving he has come in for criticism in the media because he a resident of Switzerland for tax reasons.
The Fund is managed as a sole entity, independent of any existing programmes sponsored by Mr McManus
Some estimates put horse-racing magnate Mr McManus’s personal wealth at over €2 billion. Five years ago he donated €1 million to Daughters of Charity for a new centre to help people with intellectual disability and his high profile charity golf events have raised €100 million over the years.
The JP McManus Benevolent Fund’s website states it is now open on a ‘temporary basis and accepting submissions’.
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.