New Funding for Saskatchewan Social Purpose Organizations
Social purpose organizations across the province invited to apply for new federal Investment Readiness Program funding
Saskatoon, October 4, 2020 — Saskatoon Community Foundation is offering eligible social purpose organizations working for positive impact in Saskatchewan the opportunity to access funding through the federal Investment Readiness Program (IRP). This is part of a $50 million national initiative, delivered by Community Foundations of Canada and other support partners, and funded by the Government of Canada, designed to support and expand social enterprises from coast to coast to coast.
“Saskatchewan charities, organizations, and businesses have always been innovative leaders in mission-based social purposes. Social purpose encompasses all sectors: it is an economic driver in generating sustainable wealth and all of society benefits from its growth,” says Carm Michalenko, Saskatoon Community Foundation CEO. “Saskatoon Community Foundation is well positioned to work along with other partners to propel this sector to become ready for investment and expand their impact even more.”
Applications to the IRP are open to a diverse range of organizations and businesses including charities, non-profits, co-ops, and social enterprises. The program provides $10,000 to $75,000 to the organization to create, manage, and expand social enterprises to become ready to accept investment.
“This is an exciting opportunity to explore upgraded technology for our online store, improve our sustainability and continue to support Saskatchewan’s first safe consumption site,” says Kayla DeMong, Executive Director, Prairie Harm Reduction.
The Investment Readiness Program is designed to help social enterprises across Canada grow, build their capacity to accept investors, and participate in Canada’s growing social finance market.
“Social enterprise teams from coast to coast to coast are demonstrating how business can be done differently. They are daring to rethink business models to create a more sustainable, equitable, and inclusive future. Community Foundations of Canada is in awe of the innovative projects we are funding. We look forward to seeing the positive impacts of this next round of projects through the Investment Readiness Program,” says Andrea Dicks, President of Community Foundations of Canada, a national partner in the Investment Readiness Program.
In 2020, IRP funding was awarded for 11 Saskatchewan social purpose organizations in Round 1, and nine in Round 2, enabling these social enterprises to become investment ready. For information about funded projects, visit the Investment Readiness Program website. Community Foundations of Canada is a national partner in the IRP, and Saskatoon Community Foundation is a regional partner.
Applications for the IRP should be submitted by November 22, 2022 through the program’s website for consideration.
-30-
About the Program:
Community Foundations of Canada 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.
About Saskatoon Community Foundation:
Saskatoon Community Foundation inspires philanthropy, builds community, and leads change in Saskatoon. The foundation stewards $67.8 million in endowed and non-endowed funds and manages $24.8 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.
For an interview contact:
Joy-Ann Allin
Marketing and Communications Manager
Phone: 306-665-1763
Email: communications@saskatooncommunityfoundation.ca