Co-founded by TD and SEDI, the Fund will provide grants ranging from $25,000 to $100,000 to qualified community groups for financial education
TORONTO, June 1 /CNW/ - Today, TD Bank Financial Group and Social and Enterprise Development Innovations (SEDI), a charitable organization that helps low-income Canadians gain financial independence, officially launched the TD Financial Literacy Grant Fund with the first call for applications for funding. The deadline for applications is July 31, 2010. The first of its kind in Canada, the $11 million Fund was created by SEDI and TD from the funding provided by TD earlier this year. The Fund, over its six year life, will significantly accelerate the pace at which SEDI can bring financial literacy skills to low-income and disadvantaged individuals across Canada.
Charitable and nonprofit organizations interested in applying for grants are encouraged to review the Fund's guidelines and application form available at www.sedi.org/grantfund.
"We're excited to be kicking off the TD Financial Literacy Grant Fund with a call for applications. Financial literacy is an issue that Minister Flaherty has recognized as a priority and has put on the agenda. And at TD we believe that we can also play a lead role, by giving real support directly to the community groups who can make it happen," said Tim Hockey, CEO, TD Canada Trust. "We hope that groups will use the funding to make a difference to people in their communities with education that will help them manage their every day finances and, ultimately, make a better life for themselves."
"The Fund is an example of how SEDI works in collaboration with other sectors to pursue its mission of reducing poverty by expanding social and economic opportunity for low-income Canadians," said Peter Nares, SEDI Founder and Executive Director. "Research, best practices and lessons learned from the Fund's grantees will be broadly disseminated to community financial literacy practitioners and policy-makers to help increase Canadians' financial knowledge and skills. Financial literacy has been a key component of SEDI's saving and asset building and entrepreneurship initiatives since our beginning in 1986. By developing programs that combine basic money management courses with financial incentives for people to save towards a goal such as pursuing higher education or starting a business, we help Canadians close the gap between knowledge and behavior, turning financial literacy education into action."
The new fund, managed by SEDI, will provide grants ranging from $25,000 to $100,000 to qualified community based agencies, charities and not-for-profit organizations to help integrate financial literacy training into services they deliver to their clients.
About the TD Financial Literacy Grant Fund:
- The Fund's objective is to increase accessibility to financial
literacy education for people across Canada who may normally be
excluded from mainstream financial organizations, enabling them to
develop skills, knowledge and confidence in financial issues.
- The Fund provides grants to charitable and non-profit organizations
that serve low-income and otherwise economically disadvantaged
persons and groups in Canada to support and promote financial
- It places priority on project applications under three categories:
Innovation, Research & Development, and Strategic Program
SEDI is a charitable nonprofit organization that uses innovative approaches to help low-income Canadians gain financial independence. For over 22 years, SEDI has worked with businesses, governments and more than 800 not-for-profit organizations across Canada on financial literacy, saving and asset building, and entrepreneurship initiatives. SEDI's expertise allows it to influence public policy, opening the way for Canadians to enter the social and economic mainstream. To learn more about SEDI's initiatives, the Canadian Centre for Financial Literacy and the TD Financial Literacy Grant Fund, please visit www.theccfl.ca and www.sedi.org/grantfund.
TD Community Giving
TD invests in communities to make a positive impact where it does business and where its customers, clients and employees live and work. In Canada, TD's community giving priorities are: education and financial literacy; creating opportunities for young people to help them fulfill their potential; and protecting and enhancing the environment. TD aims to build a more prosperous and inclusive future by engaging employees, customers, clients and partners to make a difference together by working with diverse communities and communities in need. In 2009, TD donated $37 million to more than 2,500 organizations across Canada. For more information, visit www.td.com/corporateresponsibility.
SOURCE SEDI (SOCIAL AND ENTERPRISE DEVELOPMENT INNOVATIONS)
For further information: For further information: Applicant contact: Michael Scott, TD Financial Literacy Grant Fund/SEDI, (416) 665-2828, ext. 238, email@example.com; Media contact: Luciana Tuzino, SEDI, (416) 665-2828, ext. 226, Mobile: (647) 802-1296, firstname.lastname@example.org; Gregory Harrison, TD, (416) 308-8597, email@example.com