The Yellowknife Community Foundation (YKCF) and the Yukon Foundation have awarded $440,700 in funding to 10 local organizations as part of the Government of Canada’s Investment Readiness Program (IRP). This $50 million renewed investment supports social purpose organizations, such as social enterprises, non-profits, charities and co-operatives, as they strengthen Canada’s social finance market while supporting their communities.
The Yellowknife Community Foundation and Yukon Foundation received a high volume of applications for the highly competitive program. This funding has supported projects including:
- $25,000 to fund the Northern Mosaic Network
- $75,000 to fund Rivers to Ridges Inc.
- $24,700 to fund Yellowknife Glass Recyclers Ltd.
- $27,000 to fund the Northwest Territories Recreation and Parks Association
- $25,000 to fund Black Spruce Education
- $64,000 to fund Arctic Fresh Inc.
- $25,000 to fund the Yukon NGO Hub Society
- $25,000 to fund the Makerspace YK
- $75,000 to fund the Safe at Home Society
- $75,000 to fund Ne’Rahten Development Ltd.
“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.
“Our Government recognizes the integral role that social purpose organizations have in tackling social, economic, and environmental challenges in Canada. These organizations have a significant impact when given support and access to new funding opportunities. The projects being funded by Yellowknife Community Foundation and Yukon Foundation will help drive local solutions to build an economy based on the principles of equity and shared prosperity. The Investment Readiness Program supports our goal to increase inclusion and opportunities for participation of Canadians in their communities, and is a foundational element toward building the economy Canadians want,” said Karina Gould, Minister of Families, Children and Social Development.
The Investment Readiness Program was open to a diverse range of organizations and businesses, including charities, non-profits, co-ops, and social enterprises. The program provided $10,000 to $75,000 to create, manage, and expand social enterprises in order to prepare themselves to be able to take on investments.
“There are so many inspiring community leaders looking to make a difference in new and innovative ways,” says Laurie Gault, Chair of the Yellowknife Community Foundation. “We are looking forward to seeing the IRP help these recipients grow their impact even 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.
The Yellowknife Community Foundation was formed in 1993 as a charitable organization that inspires and enables impactful giving in Yellowknife and the NWT. We strive to align donor interests and community needs through evidence-based grant-making, fundraising, strategic investment, public education and community relations. Through the generosity of people in our community, we aim to be a catalyst for sharing, supportive and connected communities.
Yukon Foundation was established in 1980 with $1,700 and has grown to over $8 million, administering scholarships and grants. Yukon Foundation is all about Yukoners helping Yukoners achieve their potential through scholarship for students and grants for projects.
About the 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, the Yellowknife Community Foundation and the Yukon Foundation will help empower others to unlock innovative solutions to social challenges.
For more information contact:
Yukon Foundation: Michael Pealow, Chair / Phone: (867) 335-3350 / Email: email@example.com
Yellowknife Community Foundation: Sophie Kirby, Executive Director / Phone: (867) 446 4527