Mayo foundation to target US philanthropists

Edwin McGreal

A new entity, the County Mayo Foundation, has been proposed to target US philanthropists in a bid to raise funds for Mayo charities, community organisations and sporting groups.
Once established, the foundation would capitalise on US tax reliefs to allow donors to contribute to Mayo while writing off as much as 80 percent of the donation against tax.
The Mayo County Council-led project was approved at last week’s Tourism and Food Strategic Policy Committee in Ballina, and also at its Investment and Enterprise SPC. It will go before the full council for ratification.
According to the proposed foundation’s project manager, Mike Hannon, there is ‘huge enthusiasm’ in the US for this initiative.
A ‘reputed 70 million’ people worldwide are of Irish extraction, said Mr Hannon, and 3.5 million are of Mayo extraction. These numbers are ‘a huge asset’ to Mayo, he said, adding that local communities, sporting clubs and charities stand to benefit from the goodwill that exists.
In 2014, $320 billion was donated to ‘good causes’ by Americans, Mr Hannon explained. “US taxpayers get tax relief through supporting schools, churches, sporting organisations, any project which is not for profit, in a way that an Irish person can’t,” he said.
The meeting heard that donors could receive a tax write off of up to 80 percent of their donation to the County Mayo Foundation, although it would be typically less than this.
Mr Hannon said the foundation would have a Board of Directors of Mayo Americans who would target the US philanthropists for large donations, while clubs and organisations in Mayo can register through Mayo.ie and donors can contribute to them individually through the website.
Joanne Grehan, the Head of Enterprise and Investment at Mayo County Council, told the meeting that the foundation could be presented with money directly for it to distribute to good causes as it saw fit.
Mr Hannon said it could become ‘a very dynamic foundation’ with supports for some of the diaspora who have fallen on hard times and for children who have to go to the USA for hospital treatment. Ms Grehan said Mr Hannon, from Co Sligo, won the tender for Project Manager and has raised ‘millions and millions for Irish causes’ with his work in the not-for-profit sector.
She said the foundation ‘grew out of our work with the diaspora’ and that it could take advantage of businesses and individuals who were in a position to contribute money, depending on their tax requirements at the end of the tax year.
The County Mayo Foundation, if established, will consist of a three-tier structure, with the board of directors, including the Chief Executive of Mayo County Council, Peter Hynes, at the top; the project manager and advisory board at the second level; and ‘friends’ of the foundation in various cities in the US at the third.
The foundation is incorporated in New York and is currently obtaining the required IRS status. Mr Hannon explained that the foundation is classified as ‘overseas development’ and will have the same tax status as causes in Africa.
A series of information seminars on the foundation will take place around the county over the coming months.