The Community Foundation's logo (Courtesy Community Foundation of Lethbridge and Southwestern Alberta on Facebook)

By Justin Goulet

Community Foundation announces funding for ‘social purpose organizations’

May 13, 2020 | 9:42 AM

LETHBRIDGE, AB – Four local groups have received some help thanks to the Community Foundation of Lethbridge and Southwestern Alberta.

The Foundation announced $98,660 in funding through the Investment Readiness Program on Wednesday. The Investment Readiness Program (IRP) is a national initiative led by the Community Foundations of Canada and funded by the federal government.

The IRP offers non-repayable capital to social purpose organizations across Canada to seed and grow social enterprise and prepare for future investment.

Social purpose refers to organizations that are working to solve pressing cultural, social and environmental issues. Below is a breakdown of the four successful applicants to the IRP:

· The Lethbridge Youth Foundation: $17,000 to support a feasibility study for a start-up on social enterprise that will focus on meaningful training and employment opportunities for both Indigenous youth and those new to Canada.

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· The Friends of Medalta Society: $50,600 to support the expansion of clay products manufactured at the Medalta Potteries National Historic Site into larger wholesale contracts through increased production volume, product selection, and capacity of their Working Pottery. This includes the purchase of new equipment and upgrading existing gear.

· The Rotary Club of Pincher Creek: $10,000 to support the implementation of a business plan, including market analysis and understanding, financial modeling, and investment structuring for co-housing and small business. This business plan will focus on the ways in which co-housing can provide personal privacy with the benefits of living in a community.

· The University of Lethbridge: $21,060 to support the implementation of the business case preparation in order to sell “Building Brains Together” games, which have been developed by neuroscientists to address executive function in your children and provide education around brain development for parents and caregivers.

“We are delighted that we were able to bring the IRP to Southern Alberta,” stated Charleen Davidson, the Community Foundation’s Executive Director, in a release.

“As our community begins to move forward through the COVID-19 pandemic, we will need to be more resilient than ever, and we are proud to support that resiliency as a step towards recovery.”

The Foundation noted that a second and final round of funding will be held later this year. More details will be made available later this summer.