The Pomerantz Foundation, helping underprivileged children for almost 30 years.
Since its creation in 1991 by Saül Pomerantz, the Pomerantz Foundation has been dedicated to helping children in need. From the time he took over from his father at the head of the Foundation, Terry Pomerantz has steadily increased the family foundation’s support for charities, health and educational institutions, as well as several non-profit organizations that help underprivileged children as well as women and mothers who are victims of domestic violence.
The Pomerantz Foundation’s contribution to Quebec’s social economy.
In Quebec, the social economy encompasses all economic activities generated by non-profit organizations, cooperatives, foundations and mutuals that comply with certain principles. For example, social economy organizations put people before increased profits. Social economy organizations sell goods or offer services that improve the well-being of their clients. They are democratically managed by their members and reinvest all profits in their operations and in the services they provide to their beneficiaries.
Since its creation, the Pomerantz Foundation has injected over 5 million dollars into Quebec’s social economy through the charitable organizations and foundations it supports.
What is it all about?
Many people wonder what the differences are between a foundation, a charity, and a not-for-profit organization. Here are some answers.
What is a non-profit organization?
Not-for-profit organizations do not have to operate exclusively for charitable purposes; they may be dedicated to social welfare, civic improvement, pleasure, sports, recreational activities, or any other purpose except for profit.
What are charities?
Charities must be registered and approved by the Canada Revenue Agency. Charitie must be established and operate exclusively for charitable purposes. They must also spend a minimum amount on their activities each year or donate a minimum amount to qualified recipients.
What is a private foundation?
More than half of the administrators of a private foundation are related or otherwise connected in a relationship of dependency. More than 50% of the funding of a private foundation comes from a single person or a group of persons not dealing with each other at arm’s length. These are often family foundations or foundations that are directly tied to an organization.
Foundations in Quebec have significant assets that are partly redistributed to community organizations. Each year, several thousand community organizations rely on the contribution of a foundation. Without these contributions, it would be impossible for them to provide their services to the people who need it.
The Pomerantz Foundation’s mission
The Pomerantz Foundation intervenes mainly with non-profit organizations, health institutions and several charities that help children in difficulty and their families.
“A child is totally powerless in the face of his parents’ economic situation. This is why our family foundation’s mission is to help children from underprivileged families,” says Terry Pomerantz. Today, this prominent entrepreneur in Montreal’s real estate and manufacturing sector devotes all his time and energy to philanthropy. He is the leader of the Pomerantz Foundation.
A few organizations supported by the Pomerantz Foundation.
Among the many organizations supported by the Pomerantz Foundation are the following:
- The Center for Child Development and Mental Health, a unit of the Child Psychiatry Department at the Jewish General Hospital.
- The Starlight Children’s Foundation Canada’s mission is to create priceless smiles and memories for seriously ill children and their families.
- The Ben Weider Educational Centre.
- Sun Youth, a charitable association that fights poverty and prevents exclusion.
- The West Island Women’s Centre, a non-profit community organization dedicated to improving the quality of life for women.
- The Yaldei Center, a non-profit developmental center and school dedicated to the development of children with distinct abilities.
What they are saying about the Pomerantz Foundation.
Paola Habib M.D., DABPN, FRCPC, Director of Child Psychiatry Services at the Jewish General Hospital of Montreal’s Center for Child Development and Mental Health:
“We are truly blessed to receive such important financial support from benefactor friends such as Mr. Pomerantz. The Pomerantz Foundation allows us to continue to provide quality care that is in keeping with the high standards of best practices in child psychiatry. Honestly, we are so grateful!” See more…
Ernie Rosa, Director of Property management at Sun Youth:
“The generosity of Terry Pomerantz and the Pomerantz Foundation has never diminished. Since 2005, the Pomerantz Foundation has been presenting us with $100,000 every year, to carry out projects that allowed us to be much more productive. Thanks to this entirely selfless support, Sun Youth has helped a greater number of people while developing better services.” See more…
Danyael Cantor, Director of Development at the Jewish General Hospital Foundation:
“The collaboration of the Pomerantz Foundation and the Jewish General Hospital’s Child Psychiatry Services and, more specifically, their support to the Speech Pathology Program allows us to help with great success these kids, who are among the most vulnerable in our society, to secure a better future for them.” See more…
Brian Bringolf, Executive Director, Starlight Children’s Foundation Canada:
“The Pomerantz Foundation is a truly exceptional Foundation! The only thing they wants is to make sure that the money they give us make others happy. Terry trusts us completely. Not only is he wonderful, but the whole Pomerantz Foundation team also is!” See more…
The Pomerantz Foundation: more than $5,000,000 for children
Since its inception, the Pomerantz Foundation has donated over 5 million dollars to more than 30 non-profit organizations that help children in need and children of all ages.
The Pomerantz Foundation is managed by volunteers who receive neither salary nor compensation. Their commitment and dedication completely frees the Foundation from the management and operating costs it would normally have to pay to operate.
All donations received by the Pomerantz Foundation are fully and completely given to the non-profit organizations it supports.