JP McManus donates €56m to local causes

Anne Sheridan

Reporter:

Anne Sheridan

The JP McManus Foundation has handed out �56m since it was established in 2001
PHILANTHROPIC businessman JP McManus donated almost €2 million to charities last year, amounting to a staggering donation of over €56m since he set up his foundation 13 years ago.

PHILANTHROPIC businessman JP McManus donated almost €2 million to charities last year, amounting to a staggering donation of over €56m since he set up his foundation 13 years ago.

Recent accounts filed to the Companies Registration Office, show that the 64 year-old Geneva based businessman man is standing by his pledge that he ‘doesn’t want to die a wealthy man’.

The JP McManus charitable foundation is partly funded by the JP McManus Invitational Pro-Am, which raised €43 million for local charities in 2010 – the fifth time it was held in Limerick.

However, the racing magnate will not be holding the hugely popular golf event, which attracted celebrities from around the world and thousands of people to picturesque Adare, next year. Nonetheless, he continues to give more and more to good causes, setting up the JP McManus benevolent fund, with €40m allocated earlier this year.

The board of directors on the charitable foundation includes Mr McManus’ wife Noreen, daughter Sue Ann, Declan Moylan (Snr), who works with Mr McManus and accountant Gerard Boland.

The board of the foundation meets several times each year, and has clear terms of reference in deciding who receives funding, such as alleviating social deprivation, as it is inundated with requests for assistance.

The list of charities which receive funding is no longer detailed in the accounts. The accounts, for the end of 2013, show that he donated a total sum of €1,991,308.

In 2012, the board gave away a total of €2,384,891 to some 154 local and national organisations, after pleas for funding from 228 charitable bodies were examined by the board, and in 2011 the foundation gave €4.8m to charities.

This week, his wife Noreen presented bursaries to three students at Colaiste Nano Nagle on Sexton worth €7,000, where she was a former pupil.

McManus was listed in 12th place in the Irish Rich List published by the Sunday Times earlier this year, with a personal fortune estimated at €663m, just behind his business partner John Magnier and well ahead of Euromillions winner Dolores McNamara.

To put in perspective, his wealth is nearly four times that won by the 27 Lotto winners in Limerick since 1989, who between them have shared some €175m.