JP McManus charitable foundation donates €1.7m
The charity upped its donation amount by 36% in 2016 compared to previous year
Limerick businessman JP McManus. (Photograph: Dara Mac Donaill/The Irish Times)
A charitable foundation set up by Limerick businessman JP McManus donated over €1.7 million in 2016.
Accounts recently filed with the companies office show the charity upped its donation amount by 36 per cent last year compared to 2015 when it donated over €1.2 million.
The charity’s fund, which is run by Mr McManus’s wife, Noreen McManus, and his daughter, Sue-Ann Foley, was worth €47.8 million last year.
The foundation also holds funds relating to the JP McManus invitational pro-am golf tournament. in 2016, the foundation was holding funds of €2.7 million, a drop of €12.2 million on the previous year.
The golf tournament will next year take place at the McManus owned Adare Manor hotel and golf resort in Co Limerick.
The hotel recently stepped up its staff recruitment programme in advance of its re-opening in November following a multi-million euro refurbishment. The five-star hotel has been closed for the past 16 months to allow for a major restoration of the property, including the addition of 42 bedrooms.
Mr McManus’s charitable foundation employed one staff member in 2016 on a salary of just over €28,700.
The company, which is exempt from income tax, corporation tax, capital gains tax and deposit interest retention tax, had investment management costs of over €127,000 last year, up slightly on the previous year.