CFNL to support 9 organizations in NL through Investment Readiness Program

In 2019, Community Foundations of Canada (CFC), 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. Since then, IRP has had three intake periods and has supported many social enterprises since 2019.  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. CFC announced the results of the most recent intake through the IRP on March 23, 2023, the results of which are now publicly available here

In Newfoundland and Labrador, Community Foundation of Newfoundland and Labrador (CFNL) has awarded $334,850 in funding to nine organizations. 

CFNL received over 25 applications for the highly competitive program.  This funding has supported projects including:

  • $50,000 to End Homelessness St. John’s to enable the growth, scale and sustainability of HomeConnect, which supports good tenancy and affordable safe housing;
  • $25,000 to GNP Community Place to create a business plan and explore further investment for their mission of providing health and wellness services on the Great Northern Peninsula;
  • $19,850 to The Green Rock/Guide to the Good to reach a redefined market province-wide, articulate impact, and position itself to scale to other provinces;
  • $25,000 to Mokami Status of Women Council to explore second-stage housing for at-risk individuals to unlock supports and safe, affordable housing for Indigenous women;
  • $25,000 to Quadrangle to assess social finance opportunities while evaluating its investment readiness in advance of building its Community Hub; 
  • $20,000 to St. John’s Status of Women Council to hire business planning consultants to assess social enterprise opportunities for the organization’s facilitation and training;
  • $20,000 to SucSeed to support the development of educational materials and products; 
  • $75,000 to TaskforceNL to support their Municipal Hiring Blitz which promotes employment and economic growth in rural communities by encouraging immigration; 
  • $75,000 to We Care Foundation of Newfoundland and Labrador to create strategies for stabilizing, expanding and growing its existing social enterprise activities.

Community Foundation of Newfoundland and Labrador is thrilled to partner with CFC and the Government of Canada to distribute funds to local social purpose organizations.