5 Funds That Shaped This Decade of Impact

Funds are catalysts for sparking and scaling social impact, providing tangible resources to support individuals and communities. From multi million-dollar government investments to grassroots microgrants, there are funders backing groups who are on the frontlines, pushing for transformation across Canada.

As this decade draws to a close, we look back at the funds that shaped social impact in Canada in the 2010s — from youth empowerment and entrepreneurship to refugee settlement. This is the second article in our series, with the first looking at decade-defining social movements.  

Here’s five funds that shaped this decade of impact, and what we can learn from each of them.

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Arctic Inspiration Prize 

The Arctic Inspiration Prize recognizes teams gathering Arctic knowledge and using this for real-world application and innovation to benefit communities in Canada’s north.

The prize money goes up to $3 million, with one team being awarded $1 million, up to $500,000 going to four teams, and up to $100,000 going to seven youth teams.

Through this prize, teams are empowered to address challenges and leverage opportunities in the Arctic’s culture, technology, and economy. 2018 laureates include: Pirurvik, providing early childhood education for Nunavummiut, Nunami Sukuijainiq, a youth Arctic ecology land camp Program, and Tr’ondëk Hwëch’in, a teaching and working farm establishing a sustainable, local supply of organic and fresh food.

The Arctic Inspiration Prize shows us the extraordinary innovations in Canada’s north, and what happens when local communities are empowered through funding to provide solutions to challenges.

Link: https://www.arcticinspirationprize.ca

Equality Fund 

The Equality Fund is the world’s largest women-co-founded and women-led fund supporting women’s rights and feminist movements. This year, the Government of Canada contributed $300 million into the fund, with ambitious plans to raise up to $1 billion in the next 15 years. 

The fund has several influential partners, including The African Women’s Development Fund (AWDF), mobilizing financial, human, and material resources to support local, national, and regional initiatives for transformation led by African women — and also Community Foundations of Canada (CFC), supporting a Canadian movement for community vitality. 

This is a shining example of what can happen when a traditional charity model is completely reshaped, through its successful partnerships with organizations sharing a common, feminist goal. Interested in reading more? Here’s our interview with co-founder and co-CEO Jess Tomlin. 

Link: https://www.equalityfund.ca

#RisingYouth by TakingITGlobal

TakingITGlobal is an organization that empowers young people to “understand and act on the world’s greatest challenges”. It is one of the world’s largest networks of youth learning about, engaging, and working towards solving the challenges we face globally.

In 2018, TakingITGlobal founded #RisingYouth: a microgranting program helping youth build a stronger Canada and develop the skills to support their communities. Perhaps what is most unique about this microgrant is that it’s created by youth, for youth.

The microgrants range from $250-$1500, and its success stories include everything suicide prevention walks in Arviat, Nunavut, educating young boys about mental health in Prince Edward Island, to exploring relationships through art in Saskatchawan.

#RisingYouth shows us what can happen when youth are the decision-makers of a fund — and just how far youth leaders can take microgrants.

Raven Indigenous Impact Fund 

Launched in May 2019, the Raven Indigenous Impact Fund invests in purpose-driven Indigenous-led enterprises that demonstrate commercial viability, scalability, and measurable community benefit streams. The fund screens businesses through an Indigenous impact lens, and focuses on late seed and early stage opportunities ranging from 250k – 1.5mn.

To date, the fund has completed three investments, including Animikii, an integrated digital media/custom software enterprise developing a data sovereignty product; One Feather, a block chain / fin-tech enterprise that has developed a suite of innovative mobile solutions to empower Indigenous communities; and Cheekbone Beauty, an Indigenous-owned beauty brand that gives 10% of its profits to support Indigenous youth education.

The Fund is deliberate in its efforts to decolonize the investment process and provide cultural safety to Indigenous entrepreneurs. Social movements like Idle No More underscore the urgency of Canada reconciling its relationship with Indigenous peoples.

Link: https://ravencapitalpartners.ca

Welcome Fund For Syrian Refugees

Established in 2015, the Welcome Fund for Syrian Refugees was set up to provide housing, job training, and skills development for the 25,000 refugees. The fund included $5.5 million from the corporate sector, including funding from Manulife, and $5 million from CN. With this, Community Foundations of Canada’s network of community foundations were able to resettle refugees from Syria into communities across country.

Community foundations worked with local partners for coordination. The results were a success: in Calgary, more than 100 families with 600 individuals were served. In Toronto, community foundations partnered with the City to launch an innovative program to incentivize landlords to lower rental rates and create lower-cost housing units. As a result, the program became a prototype for similar housing solutions around the city.  

Community solutions and partnerships led to the fund’s success. You can learn more about these types of innovative approaches here. 

Link: https://www.communityfoundations.ca/initiatives/welcome-fund-for-syrian-refugees/

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These funds are doing incredible work to enhance the lives of millions — but there’s a lot more ahead of us if we’re going to successfully achieve the UN’s Sustainable Development Goals in the 2020s. 

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