A deeper look at the news, innovations, and shifts in philanthropy, funding, and giving, from the Future of Good editorial team.
Fundraisers are among the most important sources of revenue for Canadian non-profits — 40 percent of them rely on events for revenue. The COVID-19 pandemic has put many of these events to an end, cutting off a vital source of revenue to non-profits as demand for their services grows.
Grantmakers across Canada are launching emergency relief funds in the face of the COVID-19 pandemic’s unprecedented challenges, but few are aimed at funding long-term community recovery. Desjardins’ GoodSpark Fund is intended to do just that.
Ontario’s non-profits are needed more than ever as the COVID-19 pandemic’s health implications give way to a looming economic depression and acute mental health issues. Yet many are in dire financial straits. The provincial and federal governments have offered business relief, but a new report says it isn’t enough to sustain the sector.
The Give5 movement and others in the philanthropic sector are calling on foundations to majorly up their disbursement — which could unlock hundreds of millions of dollars for charities. But years ago, what Give5 is calling for was the legally mandated minimum. Why did it change? There’s a long history behind the disbursement rules, and big questions about whether they’re still relevant today.
Canadian charities have lost a third of their revenues so far this year. Meanwhile, more than half say they’re spending the same amount of money — and 15 percent are spending more to either adapt to the pandemic or respond to rising demand for services. This new fund from one of Canada’s largest grantmakers will help Ontario organizations pivot and adapt.
Before COVID-19, Canadian donors were generally opposed to funding charities’ operating capacity or overhead — they preferred to support programming for their beneficiaries only. But the pandemic is changing this mindset. It’s also breaking the long-held taboo in the sector when it comes to talking about funding for operating capacity.