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. 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.
The program was launched in two phases over 2020-21.
Round 1 saw 257 social purpose organizations across Canada received funding totalling $8.9 million.
Round 2 saw 270 organizations nationally receive another $8.3 million.
Community foundations in Hamilton, London and Niagara, along with McMaster Innovation Park, partnered as the conduit for the funding allocated in this geographic area and awarded over $1 million in funding to 29 organizations.
Locally, nine organizations received $385,198 through Hamilton Community Foundation:
|De dwa da dehs nye>s Aboriginal Health Centre (DAHC)||Business plan and market analysis for launch of a product line from DAHC and the McQuesten Urban Farm to generate revenue and provide skills training to neighbours||24,400|
|Amity Goodwill Industries||Marketing location plan to establish the viability of an Attended Donation Centre that would help increase product supply to its retail thrift stores||30,000|
|Habitat Hamilton's The Hamilton ReStore||Diversify investments for a second home improvement retail store that sells donated merchandise||21,084|
|Indwell Community Homes||Establish a non-profit development corporation to undertake property development, construction and project management for Indwell and wider affordable housing sector||86,545|
|St. Matthew's House||Create “nightcare” program for children of neighbourhood parents and caregivers working evenings/nightshift||65,000|
|The Music Hall at New Vision||Engage the legal expertise required to enact the operational structure of The Music Hall||30,000|
|Welcome Inn||Develop a new business plan and conduct a viability study on expanding the New Horizons Thrift Store||32,669|
|Wesley Urban Ministries||Viability, business and marketing planning, training and software support for new urban modular farm supporting newcomers and people living in poverty.||60,000|
|YWCA Hamilton||Expansion of YWCA Hamilton At the Table Café and Catering (the Café) to build capacity for future sales of packaged food products and exploration of environmentally friendly food service/retail options.||35,500|
Visit IRP-PPI.ca for more details about CFC’s funded projects, as well as projects funded through the various partner organizations.