Investment Readiness Program awards $625,800 for Saskatchewan social purpose organizations
Saskatoon, March 23, 2023 — Saskatoon Community Foundation has announced $625,800 in funding for 14 local organizations as part of the Government of Canada’s Investment Readiness Program (IRP).
The $50M total investment extends across Canada to support social enterprises, non-profits, charities and co-operatives, as they strengthen Canada’s social finance market while supporting their communities.
Saskatoon Community Foundation received a significant volume of applications for the highly competitive program. The funding recipients are:
- 75,000 – Buckets & Borders Basketball Incorporated
- 60,000 – Catholic Family Services of Saskatoon
- 75,000 – Chokecherry Studios Inc. – Saskatoon Poverty Reduction (SPRP)
- 25,000 – Family Service Saskatoon, Inc.
- 49,290 – Oxford House Saskatchewan Inc.
- 25,000 – Prairie Harm Reduction
- 10,000 – The Princess Shop Mentorship and Female Youth Development Inc.
- 75,000 – Provincial Association of Transition Houses and Services of Saskatchewan (PATHS)
- 25,000 – Regina Early Learning Centre Inc.
- 75,000 – Saskatchewan Deaf & Hard of Hearing Services
- 30,300 – The Saskatoon Visitor & Convention Bureau Inc.
- 15,000 – Shakespeare on the Saskatchewan Festival Inc
- 25,000 – Street Culture Project Inc.
- 61,210 – YWCA Regina Inc.
“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,” says Andrea Dicks, President of Community Foundations of Canada, a national partner in the Investment Readiness Program.
“PATHS’ social enterprise combines elements of our core mandate–education and awareness related to intimate partner and family violence–with a business model that helps us building financial stability for our organization. Our training programs for family law professionals, employers and the public build understanding of the complexities of abuse so that victims and survivors will receive a supportive response when disclosing abuse. We are grateful for the financial support to expand this work into the online sphere,” says Jo-Anne Dusel, PATHS Executive Director.
“The SPRP is grateful for funding opportunities like the IRP. These resources will build capacity in anti-racism practice, while simultaneously creating an innovative social investment strategy to support a long term sustainable model that ensures equitable access to anti-racism education in Saskatchewan,” says Colleen Christopherson-Cote, SPRP Coordinator.
The Investment Readiness Program reviewed applications from a diverse range of organizations and businesses, including charities, non-profits, co-ops and social enterprises. The program provided funding of $10,000 to $75,000 per organization to create, manage, and expand social enterprises, enabling them to become ready for further investment.
“Saskatchewan community leaders are such an inspiration in their innovative, mission-based social purpose organizations. The social purpose sector continues to be a driver in generating economic growth that benefits everyone in the community. With today’s IRP funding announcement, Saskatoon Community Foundation is excited to be a partner in this sector’s growth and impact,” says Carm Michalenko, CEO of Saskatoon Community Foundation.
The Investment Readiness Program will help social enterprises across Canada grow, and build their capacity to accept investors, and participate in Canada’s growing social finance market.
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About Saskatoon Community Foundation:
Saskatoon Community Foundation inspires philanthropy, builds community, and leads change in Saskatoon. The foundation stewards $66.6 million in endowed and non-endowed funds and manages $22.7 million in funds for other charitable organizations, ensuring a reliable stream of grant funding flows into the community forever. The foundation has worked and served on Treaty 6 Territory and the Homeland of the Métis since 1970. It has disbursed over $51.4 million in grants for the community, supporting over 280 charities and representing over 350 fundholders. Beyond charitable sector expertise, the foundation’s professional staff team brings passion for actively supporting positive change in our community for quality of life, youth, equity, inclusion, and reconciliation. Follow Saskatoon Community Foundation on Facebook, LinkedIn, Instagram, and Twitter or visit our website at saskatooncommunityfoundation.ca.
Investment Readiness Program:
Community Foundations of Canada (CFC) is a partner in the Investment Readiness Program (IRP) which helps allocate funds from the Government of Canada to social purpose organizations preparing to successfully participate in the social finance market. As a Regional Partner with CFC in delivering the IRP, Saskatoon Community Foundation will help empower others to unlock innovative solutions to social challenges.
Contact:
Joy-Ann Allin
Marketing and Communications Manager
Phone: 306-665-1763
Email: communications@saskatooncommunityfoundation.ca