Contributions and Partners
In 2023 we focused on being better partners by improving our application process and being more transparent about how we make funding decisions.
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Philanthropy: Continuing evolution in the sector
Practices in philanthropy are evolving, and we remain committed to continued learning and improvement. In 2023, we participated in a survey with The Center for Effective Philanthropy for the second time to gather feedback on how to better serve partners. This past year also marked 20 years supporting Indigenous initiatives and our first of several capital transfers to Indigenous-led community serving foundations. Funding non-qualified donees remains a priority, and we continue to engage in pooled funds, participatory grantmaking initiatives and shared funding platforms. In the future, we aim to further adapt our practices and processes to meet the changing needs of partners and communities.
$30M
capital transfers to Indigenous-led foundations
To mark our 20-year anniversary working in reconciliation, we committed $30 million in capital transfers to community-focused, Indigenous-led foundations. This started with an initial $5 million transfer (for a total of $10 million over five years) directed to the Indigenous Peoples Resilience Fund.
$4.9M
in funding to non-qualified donees (NQDs)
We contributed 16% of our total funding to NQDs (organizations without a charitable status) whose work aligns with our mission. NQDs generate incredible impact in communities from coast to coast to coast.
2023 financial overview
In 2023 we allocated 5.10% of our assets to charitable activities and less than 1% towards non-charitable and investment expenses.
We also transferred $5 million to the Indigenous Peoples Resilience Fund as part of an overall commitment to transfer $30 million of our endowment to community-focused, Indigenous-led foundations.
$31.43 million
Total charitable allocation in 2023
$678 million
Average asset value over eight quarters
Total charitable allocation in 2023
We allocated over $22 million in funding to organizations through our three focus areas: Communities, Climate and Reconciliation. An additional $7 million was directed to our Capacity Strengthening and Montreal funding streams.
This chart does not include the capital transfer to the Indigenous Peoples Resilience Fund.
Meet our partners
Our partners continue to inspire us as we work to create a more resilient, inclusive and sustainable society. We have the pleasure of partnering with a range of communities and organizations through our interconnected focus areas of Climate, Reconciliation and Communities, as well as our Capacity Strengthening and Montreal funding streams.
70
new partners
We welcomed 70 new partnerships in 2023 through our three focus areas, Capacity Strengthening and Montreal funding streams. In 2023 we received 363 funding applications. Additionally, the Innoweave program funded 104 organizations seeking to enhance their impact by working with a coach.
418
Office Hours appointments
We held 418 conversations with groups considering applying for funding. These meetings were an opportunity to hear their ideas and advise them on potential alignment with our focus areas.
New and continuing partnerships
We added 128 partnerships across our funding areas and continued 174 others. Combined, they represent 302 active partnerships.
Where our partners work
Our partners are creating positive impact across Canada.
For the first time in 2023, we mapped where our partners work. This exercise offered insight into where our support is going — and where it is not. This is something we are considering as we continue to fund organizations through our focus areas.
*This map does not include partners funded through the Montreal stream, Innoweave, and the program development and opportunity funds.
Communities
Our Communities focus area supports equity-deserving communities to address the root causes of systemic inequality. We partner with organizations that collaborate to achieve audacious goals and those advancing economic and social justice. Overall, we aim to help build economic resilience and reduce barriers for equity-deserving groups.
Reconciliation
Our renewed Reconciliation focus area partners with Indigenous organizations and communities to advance a reconciliation economy where resources are equitably shared and sustainably stewarded for this generation and those yet to come.
We support Indigenous partners to advance the National Indigenous Economic Strategy Calls to Economic Prosperity. We also fund collaboratives that pool and redistribute resources to support projects led by Indigenous communities.
Climate
Our Climate focus area partners contribute to an equitable and sustainable transition to a net-zero economy in Canada. We fund organizations working on innovative climate mitigation solutions; those ensuring diversity within the climate action movement; and initiatives that increase the flow of private capital to fund the shift to a low-carbon economy.
Our other partners
In addition to our focus areas, we allocate funding to organizations seeking to strengthen their capacity to address social and environmental change. We also devote a small portion of funding to support organizations based in our home city of Montreal.
We direct modest amounts of funding to support unique and time-sensitive needs through our Opportunity Funds, or to organizations that seek to test a new idea aligned with our focus areas through our Program Development Funds. Finally, our staff and board occasionally provide directed funds to charities across the country.
In 2023 we provided $300,000 in funding to partners impacted by wildfires in Alberta and the Northwest Territories.
A full list of our funding can be viewed on the CRA website.