Whatโs a Community Bond, Anyway?
Why It Matters
Thanks to ever-changing political environments and limiting restrictions imposed on nonprofits by funding bodies, the ability of non-profit organizations to grow and secure their long-term is often hampered. One solution? Community bonds present an opportunity for organizations to leverage the power of their community to fund projects that can have a big impact, even beyond real estate usefulness. Christopher Trotman of Tapestry Community Capital gives us a primer on the impact investing tool.
In January 2019, the Ontario government announced aย $15 million reduction to the Ontario Trillium Fund, money that would have gone to fund dozens of community projects. In May 2019, it was announced that close to $60 million would be cut from provincial programs geared towards funding the arts and culture sector. This included the elimination of the Indigenous Culture Fund that was established only the year before, in 2018. Even during a period when reconciliation is such a large public focus, the decision to cut a recently established program was made.
Clearly, there is no guarantee of funding when relying on money coming from government programs. That inc
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