$700,000 in grants will be invested in much-needed financial education initiatives
Social and Enterprise Development Innovations (SEDI) today announced the ten community organizations that have been awarded a total of $700,000 in funding to support financial education from the TD Financial Literacy Grant Fund.
SEDI administers the Fund and received 170 applications from organizations serving a variety of groups, including women, youth, Aboriginal Peoples and newcomers to Canada. Grants to the financial literacy initiatives were awarded with a focus on three areas: innovation, research & development, and strategic program development.
“Initiatives that help Canadians better manage their money are more needed than ever. Currently, Canadians owe a record high of $1.50 for every $1 of disposable income,” said Laura Watts, CEO of SEDI. “The significant number of applications we received demonstrates the tremendous demand for financial literacy support in our communities. At SEDI, we are committed to joining forces with community, government and business partners like TD to help all Canadians, particularly those on low incomes, build a better financial future.”
In the past year, the Fund has awarded $2.4 million to 29 community organizations across Canada.
“Each of these organizations is making an important and positive impact in their communities,” said Scott Mullin, Vice-President, Community Relations, TD Bank Group. “The TD Financial Literacy Grant Fund will help grantees foster innovation and extend their program reach to benefit more people.”
The Fund will enable Promoting Education and Community Health (PEACH), a Toronto-based organization, to conduct research and local consultations. Information gathered from this process will be used to pilot a financial literacy program for marginalized youth in the community of Jane and Finch.
“With the support from the TD Financial Literacy Grant Fund, we will pilot an innovative, youth-centred, financial literacy program with 40 marginalized youth in our community,” said Marilyn Eisenstat, Managing Director, PEACH. “It is our hope that our community and communities like ours will benefit from the learning that this grant enables. We want to reach youth who otherwise would not be exposed to financial literacy skills – and to do this with respectful recognition of the challenges they face.”
The successful grantees are:
- Supporting Employment and Economic Development Winnipeg Inc. (SEED)
- Antigonish Women’s Resource Centre & Sexual Assault Services Association
- PARO Centre for Women’s Enterprise, Thunder Bay
- Edmonton John Howard Society
- Family Enrichment & Counselling Services Fredericton Inc.
- Carrefour Jeunesse-Emploi de Cote-des-Neiges, Montréal
- Entraide budgetaire Ottawa
- Promoting Education and Community Health (PEACH), Toronto
- Girls Incorporated of Durham
- Tl’azt’en Nation, Fort St. James
Supporting Employment and Economic Development Winnipeg (SEED) was selected for a project that will train community based educators from war-affected communities to provide financial literacy education in the first languages of community members.
“Our goal is to support the successful economic and social integration of families who have arrived in Canada, whose first language is not English or French, so they can better prepare for their new lives in Canada and broaden their social networks,” said Louise Simbandumwe, Director of Asset Building Programs, SEED.
The Fund is now accepting applications for its third round of grants. Applications should be submitted by August 3, 2011. Charitable and nonprofit organizations interested in applying for grants are encouraged to review the Fund’s guidelines, FAQs, and application form available at www.sedi.org/grantfund.
SEDI is a national, charitable organization that uses innovative approaches to help low-income and at-risk persons gain financial independence. Since 1986, SEDI has worked with businesses, governments and more than 1,000 community groups on financial literacy, savings and entrepreneurship initiatives. SEDI’s expertise allows it to influence public policy, opening the way for low-income Canadians to enter the social and economic mainstream. For more information, visit http://www.sedi.org/.
TD Community Giving
TD invests in communities to make a positive impact where it does business and where our customers, clients and employees live and work. In 2010, TD donated over $50 million to support community organizations in Canada, the United States and the United Kingdom. In Canada, we focus on Education and Financial Literacy, Creating Opportunities for Young People, and the Environment. For more information, visit www.td.com/corporateresponsibility.
For further information:
TD Financial Literacy Grant Fund/SEDI
416-665-2828, ext. 238
416-665-2828, ext. 226 / Mobile: 647-802-1296