News Releases
BMO Financial Group's employee-based charity, BMO Fountain of Hope, today announced it will help combat one of the most pressing health problems facing Canadian kids: physical inactivity.
In response to recent studies that show skyrocketing childhood obesity rates, BMO Fountain of Hope has launched the Kids 'n Motion Endowment Fund, a national endowment to support charities focused on recreational, health and fitness programs directed at needy kids in Canada. Through this new fund, donations from BMO employees will provide grants and long-term support to local charitable organizations in communities across Canada.
Recent research findings:
- The Canadian Pediatric Society (CPS) has called on doctors who care for children to attack childhood obesity and physical inactivity on all fronts. CPS says an estimated 25 per cent of Canadian children are considered obese and only 46 per cent of Canadians from ages five to seventeen expend enough energy for optimal health and development.
- A study of 5,749 Canadian youngsters, which was conducted by Queen's University, found that obese children rate their quality of life as low as young cancer patients' because of teasing and weight-related health problems.
- A Yale University School of Medicine study reported that very obese children may develop serious health conditions that increase their risk of developing diabetes and heart disease at an early age.
- Researchers at Toronto's Hospital for Sick Kids say that even teenagers of so-called normal weight are showing signs of heart disease because of high-fat, high-calorie diets and low physical activity.
"BMO Financial
Group employees have a strong tradition of supporting the communities
in which we do business and we remain committed to the strength and health
of these communities," said Maurice Hudon, Senior Executive Vice-President,
BMO Bank of Montreal. "This is an opportunity for BMO's current and
pensioned employees to respond to a significant public health issue across
the country. Based on their incredible efforts during the BMO Fountain
of Hope 2004 fundraising campaign, which raised a record $7.2 million
for Canadian charities, I am confident we'll make a meaningful contribution
to this important cause."
The Kids 'n Motion Endowment Fund is BMO Fountain of Hope's first
permanent endowment fund. It is being established through Community Foundations
of Canada, the membership organization for the country's more than 140
community foundations.
"We're very proud to be working with BMO Fountain of Hope on the Kids 'n Motion Endowmwent Fund," said Monica Patten, President and CEO of Community Foundations of Canada. "We commend BMO for being leaders on such a critical issue and for their desire to make a long-term difference in Canadian communities."
An endowment is a permanent fund that enables contributors to create a lasting legacy and simultaneously make donations to local organizations from the fund's investment income. Through an endowment, BMO Fountain of Hope can support its chosen cause immediately and create a sustainable source of funds for that cause over time. Although the fund will be managed nationally, the money raised in each region will be donated to charities in that region.
BMO Fountain of Hope is the charitable foundation of Canadian employees and pensioned employees of BMO Financial Group who support Canadian registered charities in their local communities through personal donations and fundraising efforts. Since the BMO Fountain of Hope was first founded as a national foundation by employees in 2000, it has raised more than $26 million for close to 2,500 charities across the country.
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