Second round of funding to be offered

By Sulz, Dave on August 1, 2020.

LETHBRIDGE HERALD

The Community Foundation of Lethbridge and Southwestern Alberta, in partnership with the Community Foundation of Southeastern Alberta, is offering a second and final round of funding through the Investment Readiness Program (IRP).

This program is part of a national initiative led by Community Foundations of Canada and funded by the Government of Canada that will provide $18.5 million across the country to seed and grow social enterprise.

Through the IRP, social purpose organizations can apply for a minimum contribution of $10,000 in non-repayable capital to design, plan, measure and scale social enterprises to get ready to accept investment and participate in Canada’s growing social finance market. The IRP is open to a diverse range of social purpose organizations and businesses, including charities, non-profits, co-ops and for-profit social enterprise to prepare them to accept future social investment.

“The Community Foundation has been supporting southwestern Alberta through the various stages of the COVID-19 pandemic with grants to respond to and recover from the impact the pandemic has had on our community,” executive director Charleen Davidson said in a news release. “As we begin to reopen to a new reality, we are proud to offer the Investment Readiness Program to support the innovative ideas of social purpose organizations as they help build a more resilient community.”

A full program description and requirements for eligibility are available online at http://www.cflsa.ca.

This July, four organizations received non-repayable capital contributions through the first round of IRP funding, totalling $98,660. The Friends of Medalta Society, Lethbridge Youth Foundation, Rotary Club of Pincher Creek and the University of Lethbridge, each received funding to support projects that will move them along the investment readiness spectrum and prepare them to participate further in Canada’s growing social finance market.

Applications to the IRP will be accepted between Sept. 8 and Oct. 9 at 4 p.m. through the program’s website, https://cfc-fcc.smapply.ca/. All organizations interested in applying are asked to contact the Community Foundation at IRP@cflsa.ca to discuss their project to determine eligibility.

An information session on the IRP application process will be hosted via Zoom by the Community Foundation of Lethbridge and Southwestern Alberta and will be announced at a later date. Contact the Community Foundation at IRP@cflsa.ca for more information.

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