March 23, 2023 – Today, Community Foundations of Canada (CFC), and community foundations from coast to coast to coast are pleased to announce the funding results of the Investment Readiness Program. This $50 million renewed investment from the Government of Canada supports social purpose organizations, such as social enterprises, non-profits, charities and co-operatives, as they strengthen Canada’s social finance market while supporting their communities.
Today CFC announces over 270 funded projects that will collectively invest over $13 million into communities in Canada. The Investment Readiness Program supports social purpose organizations as they move towards investment readiness, creating sustainable long-term goals to join or continue in Canada’s social finance market. Including organizations led by or serving Indigenous peoples, Black Canadians and other racialized communities, women, official language minority communities, people living with disabilities, and other equity deserving groups. Addressing complex social issues such as improving food security through hyper-local vertical farms, to support communities experiencing food insecurity.
“The Investment Readiness Program has been a catalyst for communities across the country, and we are delighted to be sharing the program’s results today. From coast to coast to coast, social purpose organizations are showcasing bold leadership and rethinking how revenue generation can work alongside increasing community impact. We continue to be inspired by the creativity and solutions that strengthen the resilience of the charitable sector while taking on tough social challenges. We are deeply appreciative of our network of community foundations, the Foundation for Black Communities, and the Government of Canada for their continued collaboration and care.”ANDREA DICKS, COMMUNITY FOUNDATIONS OF CANADA, PRESIDENT
There are a variety of organizations that work within the Investment Readiness Program ecosystem. CFC works alongside our network of community foundations that bring an important local lens to this work. CFC has also collaborated with the Foundation for Black Communities (FFBC) to ensure that Black-led or Black-serving social purpose organizations were able to apply to both CFC and FFBC. Across the country, the social purpose organizations who receive IRP funding support communities led by or serving Indigenous peoples, Black Canadians and other racialized communities, women, official language minority communities, people living with disabilities, and other equity-deserving groups.
“The Foundation for Black Communities is pleased to partner with Community Foundations of Canada and Government of Canada to deliver the Investment Readiness Program. It is profoundly important to acknowledge and invest in the entrepreneurial innovation of contributions of Black communities. By partnering on this initiative, we’ve been able to ensure that Black-led, focused and serving organizations are increasingly able to access funding opportunities to advance the well-being and economic prosperity of Black people throughout Canada.”GLADYS AHOVI, FOUNDATION FOR BLACK COMMUNITIES, PRESIDENT AND CEO
The Investment Readiness Program has driven social purpose organizations along the readiness continuum. As funded projects take root, CFC looks forward to showcasing their impact in the community. To view the projects funded, explore the Investment Readiness Program results map and more.