The Ireland Funds America charity provided philanthropic grants worth $17.7 million (€16.7 million) to more than 300 Irish-based organisations last year, the group’s latest accounts show.
The funding was delivered in the form of “donor-advised gifts” to organisations such as the Early Learning Initiative, St Patrick’s Mental Health Services and the National Woodland Trust.
The total was up from the $14.3 million distributed in 2020 when activity was hampered by Covid-19 lockdown restrictions.
The latest US filings for Ireland Funds also show that president and chief executive Caitríona Fottrell received a total remuneration package of $312,259 (€294,364) in 2021, less than half that of her predecessor Kieran McLoughlin, who left the organisation in 2018; while founder Sir Anthony O’Reilly and his wife Chryss O’Reilly were still contributing an hour a week each as board members.
The fund was set up in the 1970s by Sir Anthony and the late Dan Rooney to support charitable causes on the island of Ireland. To date, it has raised more than $600 million for various causes and has chapters in 12 countries.
The accounts also reveal the group is still pursuing a case against a former employee over the alleged embezzlement of nearly $750,000. Filings show that the amount allegedly embezzled between 2015 and 2017 was estimated to be $711,875 (€670,975).
“As the litigation is ongoing, we cannot provide any comment,” the group said, while noting that the increase in legal fees in 2021, which came to $174,534, were within the typical range and not related to the Texas case.
The trial is expected to commence in June 2023.
The total revenue raised by The Ireland Funds America through donor gifts and fundraising events in 2021 was $22.3 million, up from $20.9 million in 2020, the accounts show.
“The Ireland Funds has worked hard to identify and support organisations to ensure that we can have a direct and positive impact on people’s lives,” Ms Fottrell said.
“Furthermore, we are incredibly grateful to our generous community of donors, who in 2021 facilitated us in providing support to over 300 worthy organisations.”
The organisation also launched its Reconnection Fund at the end of 2021, aimed at supporting the most socially and economically disadvantaged groups impacted by Covid-19, particularly disadvantaged and marginalised communities, young people and people affected by mental health issues.
In the accounts, directors noted the extent of the impact of Covid-19 on the operational and financial performance in 2022 “will depend on certain developments, including the duration and spread of the outbreak and its impact on our investments, fundraising efforts (particularly as it relates to fundraising events), vendors, all of which at present, cannot be determined”.
