VICTORIA, BC — The Victoria Foundation is offering eligible social purpose organizations that are working to do good on Vancouver Island the opportunity to access funding through the Investment Readiness Program. 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 to support and expand social enterprises from coast to coast to coast. Coast Capital is also providing funding to support the program on Vancouver Island.
The Investment Readiness Program is open to a diverse range of organizations and businesses including charities, non-profits, co-ops and social enterprises. The program can provide $10,000 to $75,000 to create, manage, and expand social enterprises in order to get ready to accept investment.
“We’re proud to support organizations as they contribute to solving pressing social, cultural, and environmental challenges across Vancouver Island,” says Sandra Richardson, Victoria Foundation CEO. “Many IRP projects funded in 2021 are working to build sustainable and inclusive communities that support youth, women, IBPOC, 2SLGBTQIAA+ people, newcomers, people experiencing low incomes, and more”.
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.
“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.
Applications for the IRP, of which the Victoria Foundation is a regional partner, should be submitted by November 22 through the program’s website for consideration.
About the Victoria Foundation
Established in 1936, the Victoria Foundation is Canada’s second oldest community foundation and the sixth largest of nearly 200 nation-wide. The Victoria Foundation manages charitable gifts from donors whose generosity allows them to create permanent, income-earning funds. The proceeds from these funds are then distributed as grants for charitable or educational purposes. To date the Victoria Foundation has invested over $287 million in people, projects and non-profit organizations that strengthen communities in BC and throughout Canada.
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, the Victoria Foundation will help empower others to unlock innovative solutions to social challenges. Coast Capital is also a funding partner in this year’s Vancouver Island program, demonstrating their commitment to work as an advocate for social impact and growing social enterprise.
Interviews with the Victoria Foundation can be arranged by contacting:
Matthew Williams, Communications and Media Relations Specialist