Deadline: 05-Sep-2024
The 2024 TD Ready Challenge is seeking applications from charitable and non-profit organizations that propose innovative approaches to supporting underserved small business owners to develop a business, launch a new business, or grow an existing business.
They encourage applicants to present novel strategies, technologies or partnerships that have the potential to disrupt systemic barriers for underserved entrepreneurs with the goal of cultivating a more inclusive and supportive entrepreneurial landscape across North America.
They will have a clear preference for programs that:
- Are pilots or that are programs that will use the grant to scale and/or replicate solutions to additional communities or populations;
- Have wide demographic or geographical reach in areas where the TD Bank Group (“TD”) operates. This includes all of Canada as well as: (a) those US states that are within the TD Retail footprint; and (b) the Lapeer, Livingston, Macomb, Oakland, St. Clair and Wayne counties in the Metro Detroit area;
- Have a clear evaluation and measurement process to track impact; and
- Are put forward by organizations which have not received any funds or grants from TD of CDN $250,000 or more or USD $250,000 or more during the period starting on August 31, 2023 through to and including August 31, 2024.
Funding Information
- For 2024, there are a maximum of ten (10) grants available under the TD Ready Challenge for Canada and the US together. Eligible Canadian-based organizations are able to apply for CDN $1 million and eligible US-based organizations are able to apply for USD $1 million.
How can organizations address the Problem Statement?
- The 2024 TD Ready Challenge seeks to provide financial support to organizations that have designed innovative, scalable and/or replicable solutions focused on addressing the 2024 Problem Statement.
- Such solutions could be focused on, but are not limited to, one or more of the following:
- Providing access to financial capital and support
- Building business and financial planning skills
- Providing business mentorship
- Other
Eligibility Criteria
- Programs presented in applications must deal directly with people and provide benefits to people and communities. Applicants can be Canadian, or US organizations as described below.
- The following are eligible to apply:
- Canadian registered charities and not-for-profit organizations; or
- U.S. charitable and not-for profit organizations which meet the following criteria and can provide written confirmation of same:
- Have received Section 501(c)(3) determination from the Internal Revenue Service (the “IRS”); or
- Are treated by the IRS as an organization that is not a private foundation as described in Sections 509(a)(1),(2) or (3) of the Internal Revenue Code (the “IRS Code”); or
- Are a local/state government organization.
- Note: 2019, 2020 & 2021 TD Ready Challenge Grant recipients are eligible to apply.
- The following are eligible to apply:
Ineligible
- They will not fund grant applications that focus on:
- Youth;
- For profit companies or institutions; or
- Lobbying for policy, legislation or regulations.
- As part of the application process, TD requires an understanding of the financial status of your organization. If your organization’s audited statement(s) reflect(s) a recent deficit, please explain the reason for this deficit in your application. Please note that a deficit will not impact your eligibility for a TD Ready Challenge Grant.
- The following are not eligible to apply:
- Elementary and secondary schools
- Religious organizations (i.e., organizations whose primary purpose is religious practice or worship). However, faith-based organizations that provide programs and services for broader community benefit, may be considered.
- Pageants
- Sports teams and sporting events
- Individuals or individual pursuits/fundraising initiatives
- Recreational groups (lodges, fraternal clubs, self-improvement organizations, etc.)
- Conferences, trade shows, fairs
- Production of videos, DVDs and television shows
- TD Employees
- 2022 and 2023 TD Ready Challenge Grant Recipients
For more information, visit TD.