[Ottawa, ON] — Starting on January 8 2020 , Community Foundations of Canada and participating community foundations across Canada will welcome applications from social purpose organizations looking to grow their impact. As part of this $18.5M program, eligible social purpose organizations can apply for $10,000 to $100,000 in non-repayable capital. CFC’s program is supported by the Government of Canada’s broader Social Finance and Social Innovation Strategy and aims to help organizations with a social mission better prepare for investment.
“We know that social enterprises working in communities across Canada are a key part of the solution to some of today’s most pressing issues. Business isn’t just about the bottom line. It can be a source for good and a catalyst for social, cultural and environmental change. Through the IRP, we’re thrilled to help social enterprises grow their impact and by extension, support local solutions that will help build stronger, more resilient communities,” says Andrew Chunilall, CEO of Community Foundations of Canada, a national partner in the Investment Readiness Program.
CFC’s program is open to a diverse range of organizations and businesses including charities, non-profits, co-ops and for-profit social enterprises. The program will provide non-repayable capital to design, plan, measure, and scale social enterprises in order to get ready to accept investment. In Québec, CFC is running a parallel joint program with its partner the Chantier de l’économie sociale.
CFC’s first application period will run from January 8 2020 to February 10, 2020. Additional rounds of applications will be announced in 2020. Applications for the IRP can be submitted online via the IRP application portal.
-30-
About Community Foundations of Canada
Community Foundations of Canada is the national network for Canada’s 191 community foundations. Together we help Canadians invest in making our communities more sustainable, resilient and inclusive.
About the Program
Community Foundations of Canada is a partner in the Investment Readiness Program (IRP) which helps deliver capital from the Government of Canada to social purpose organizations preparing to successfully participate in the social nance market. As a Regional Partner with CFC in delivering the IRP, [Community foundation] will help empower others to unlock innovative solutions to social challenges.
Media Contact:
Geneviève Vallerand Director of Communications, Community Foundations of Canada gvallerand@communityfoundations.ca
