Program overview
In 2019, Community Foundations of Canada, alongside the Government of Canada and several partner organizations, announced the Investment Readiness Program (IRP), a program that helps social purpose organizations scale up their social enterprises to prepare to accept investments. Since then, IRP has supported many social enterprises across Canada. The goal of the IRP is to support these organizations in the social finance market, generating a return for investors while having a positive impact on their communities.
Our role
Saskatoon Community Foundation is excited to serve as a Regional Hub, partnering with Community Foundations of Canada and the Government of Canada in the Investment Readiness Program (IRP) granting process. We work with other Saskatchewan community foundations, such as South Saskatchewan Community Foundation, Prince Albert Community Foundation and North Battleford Community Foundation, along with industry partners, to make recommendations for the program.
Purpose of funding
The IRP’s goal is to help social purpose organizations move towards investment readiness. Funding can be used to research, launch, design, measure and scale up social enterprises. A social enterprise is an organization or program that is mission-driven, aiming to sell goods or services to earn a revenue, while also helping achieve positive social, cultural or environmental results.
Eligibility
You may apply to the IRP if you are a:
- Charity
- Non-profit
- Co-op
- For-profit social enterprise
Through Community Futures, non-qualified donees (as defined by the Income Tax Act) organizations such as for-profit enterprises, non-profit organizations, or co-operatives will be able to access this funding.
Funds are intended to be used to access outside expert advice and services or create dedicated staff capacity.
Eligible activities
Activities that are eligible for funding may include, but are not limited to: business planning, accounting services, branding, brokerage, financial modelling, impact measurement, investment structuring, tendering and bid writing, legal services, product development, market analysis and understanding, financial recording, negotiation support, management coaching, minor asset purchases to fulfill a contract, and minor renovations to fulfill a contract.
Non-eligible activities
The funds are not eligible for core operating costs. This includes ongoing administration costs, rent or procuring real estate. The funding also may not be used for a single individual; federal, provincial or municipal government agencies (they can be involved but the funding will be made directly to the social purpose organization); and projects outside of Canada.
Funding
Social purpose organizations may request between $10,000 and $75,000.
Grant recipients
March 23, 2023 Results Announcement
July 30, 2020 Results Announcement
Important dates
The deadline for applications is now closed.