The Community Foundation of PEI (CFPEI) funds social purpose organizations with $54,500 through the first round of the Investment Readiness Program.
In 2019, Community Foundations of Canada, 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. 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 launched its first round of funding through the IRP in January of 2020, the results of which are now publicly available [hyperlink to map].
Across Canada, 257 organizations have received IRP funding in CFC’s first round of applications. In PEI, five organizations, encompassing registered charities, not for profits, cooperatives and Indigenous communities were successful in the first round. Visit IRP-PPI.ca for more details about CFC’s funded projects, as well as projects funded through the various partner organizations.
Second Round of IRP Funding Announced
We are pleased to announce the dates for the next application period for IRP funding via Community Foundations of Canada. From September 8 to October 9, 2020, social purpose organizations will be able to submit applications for projects to advance their readiness to receive investments.
Eligible organizations on PEI could receive a minimum of $10,000 in non-repayable capital to develop their enterprise. Charities, non-profits, co-ops and for-profit social enterprises, may all apply if they have an existing business or a business idea that fits the definition of a social enterprise — selling a good or service with some profits going back into their mission to provide a positive social, cultural or environmental outcome.
Find all the details to apply at https://www.communityfoundations.ca/initiatives/the-investment-readiness-fund/ ,https://cfpei.ca/ or by contacting Cathy McPhail, CFPEI IRP Coordinator at [email protected] .