Canadian finance giant Co-operators says it handed out CA$1.39m to 59 nonprofits and charities during 2024 – and warned that there are more vulnerable people in need of support “in a time of economic uncertainty”.
As well as offering support through its philanthropic arm Co-operators Community Funds (CCF), the co-op renewed its commitment to Kids Help Phone (KHP), bringing total contributions to the youth mental health initiative to $1m.
“In a time of economic uncertainty,” it said in a release, “many young and vulnerable Canadians are relying more heavily on the resources provided by non-profit organisations and charities for financial, mental health, and wellbeing supports.
“However, despite the growing reliance on the essential services offered by these types of organisations, many are struggling to meet their funding targets.
“Escalating pressures, ranging from the mental health crisis to healthcare system shortcomings, to the soaring cost of living, including food and housing insecurity, create barriers to non-profits and charities and their ability to respond to unmet needs in their communities.“
Organisations receiving support include Stella’s Place Assessment and Treatment Centre in Toronto, which offers free, comprehensive, integrated mental health services for young adults, aged 16-29. Their support model places an emphasis on peer co-design paired with evidence- informed best practices.
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Shawna Peddle, associate vice president of citizenship at Co-operators, added: ”Now more than ever, there is a critical need for programs that infuse community organisations with the resources they need to deliver on their mission.
”The funding we provide through CCF, in part, supports the programming capacity of community organisations to address society’s increasing dependence on their services. All towards a purpose that we share as a co-operative: helping meet unmet needs and generating meaningful, lasting impacts for individuals.”
Last year, CCF received more than 100 grant applications, the most ever in a single year. In response, its board approved new guidelines to provide additional funding capacity to help meet the programming needs of the organisations that CCF supports. In total, $1,389,000 was disbursed to 59 charitable and non-profit organisations.
“Communities are the foundation of our shared Canadian identity.” added Peddle. “They serve a fundamental purpose as a place where culture, values, creativity, and prosperity can flourish while fostering a sense of connection and belonging that strengthens the social fabric of our country.”
CCF says it has a long-standing commitment to help underserved individuals gain the confidence and skills necessary to progress along their path to employability. Since its inception in 1995, CCF has provided $12.4m to 267 organisations across Canada.
”The charitable and non-profit sectors are critical levers to community resilience and can serve as a reliable source of services that help meet the unmet needs of people from all walks of life,” said CCF chair Sean Geobey. “The current circumstances are particularly troubling and underscore the vital role CCF can play to enhance community connectedness and change lives.”
