Deadline: 25-Nov-22
The Government of Canada is launching a call for proposals to implement the Black-Led Philanthropic Endowment Fund.
The Black-led Philanthropic Endowment Fund seeks to create a sustainable source of funding for Black-led, Black-focused and Black-serving non-profit organizations and registered charities. Through it, the Government of Canada will provide 1 national Black-led and Black-serving recipient organization with an endowment of $199,476,227.
The Government of Canada is taking action to reduce anti-Black racism and improve social and economic outcomes in Black communities.
Objective
This call for proposals will provide endowment funding to an eligible organization that would seek the broad goals of:
- Reducing anti-Black racism
- Improving social and economic outcomes in Black communities
Funding Information
- Eligible organizations must apply for the maximum total budget of $199,476,227 and a minimum duration of 10 years. At least $190,000,000 would take the form of an endowment.
- The recipient organization would be able to access up to $9,476,227 of the total budget. This amount would support first-year operating costs and early granting activities while the endowment gains maturity.
- The endowment is restricted to a period of 10 years. At the end of the 10 year period, the restrictions are reviewed and may either be maintained, amended or removed.
Eligible Projects
- Your project must meet all of the following criteria:
- Request $199,476,227 in funding
- Meet the objective of this funding process
- Activities must be eligible and take place in Canada
- For us to consider your application complete, you must meet all of the eligibility criteria above and provide the following:
- Submit your application before 12 pm (noon), (Eastern daylight time) November 25, 2022.
- Submit a complete application package including the following 6 items:
- Completed application for funding (EMP5696) with all mandatory information, including 4 plans required for project activities (question 56 of the applicant guide)
- Completed attestation (part 4 of the application form)
- Completed budget detail template (EMP5596) for first-year operating costs and early granting activities
- Canada Revenue Agency business or registration number or proof of incorporation or registration. Organizations don’t have to be registered charities when they apply. A document that includes the address of your organization and 1 of the following:
- Canada Revenue Agency (CRA) business number
- Registration number
- Proof of provincial incorporation or registration
- Proof of intent to form a partnership and partner organizations’ CRA business numbers (for example, letter of support, memorandum of agreement, service contract, board resolution, formal partnership agreement, etc.) for:
- 1 or more investment advisors and portfolio management firms showing their National Registration Database number to advise or deal in securities in Canada and total assets under management for the last 5 years, and
- An allied public foundation to provide capacity supports
- Audited financial statements for the last 2 years (2020 and 2021), where they exist
Eligibility Criteria
- Your organization must:
- Be located in Canada
- Be a not-for-profit organization or registered charity
- Indicate that it is both:
- Black-led: a minimum of 2/3 of the leadership positions, across all levels of your organization’s management and governance, are held by people who self-identify as Black, and
- Black-serving: An organization for whom Black communities are an important or the main beneficiary group
- Have identified as a partner 1 or more investment advisor(s) and/or portfolio management firm(s)
- Have identified as a partner, for a period of 3 years or more, an allied public foundation to provide capacity supports
- Have proof of a Canada Revenue Agency (CRA) registration number
- Organizations must have a Canada Revenue Agency business or registration number or proof of incorporation or registration. Organizations don’t have to be registered charities when they apply. Organizations must register as a charity with the Canada Revenue Agency within their first 3 years of their project
Eligible Partners
- Eligible partners include organizations that meet the following requirements:
- Allied public foundation:
- A registered charity, designated as a public foundation by Canada Revenue Agency, for at least 5 years
- Having a minimum assets under management of $10 million for each of the last 5 years
- Investment advisors or portfolio management firms:
- A portfolio manager, investment fund dealer or mutual fund dealer with current registration to advise or deal in securities in Canada
- Having 5 years or more of experience in providing portfolio management for institutional investors, including foundations
- Having a minimum assets under management of $100 million for each of the last 5 years
For more information, visit https://www.canada.ca/en/employment-social-development/services/funding/black-led-philanthropic-fund.html