Joint Level Programs
Project Title: Toronto Enterprise Fund
Toronto Enterprise Fund (TEF) is a funding partnership of United Way Toronto, the City of Toronto, the Ontario Ministry of Community and Social Services – Ontario Disability Supports Program, and the federal government through Homelessness Partnership Initiative, a program administered by the City of Toronto.
The Toronto Enterprise Fund supports the development of social purpose enterprises working with homeless and low-income people. Social purpose enterprises create both community connections and economic opportunities for homeless and at-risk populations by developing businesses that balance both revenue generation and a social mission. A social purpose enterprise is a business venture established by a not-for-profit organization that creates both community connections and real economic opportunities for homeless and at-risk populations by developing businesses that balance both revenue generation and a social mission – the “double-bottom line”.
To be eligible for support, the social purpose enterprises must be based in Toronto and must provide transitional or permanent employment to people who are homeless, at risk of homelessness or low-income.
The Toronto Enterprise Fund provides funding to non-profit organizations and community groups to start up social purpose enterprises in the greater Toronto area. TEF makes a long-term commitment to the social purpose enterprises they fund. Once an enterprise has received a start up operating grant, it is eligible to re-apply for funding every year. Only enterprises that do not meet expected social and business outcomes would be at risk of losing their funding. Increased reliance on sales revenue and decreased reliance on grants is encouraged by reducing the operating grant each year.
The Toronto Enterprise Fund offers business development training to non-profit organizations and community groups to help them start up and build social purpose enterprises that will generate revenue and employment. TEF is committed to supporting learning through research and evaluation. TEF undertakes on going monitoring and evaluation of the social enterprises that they fund to understand how to effectively start and manage a social purpose enterprise.
TEF also funds the Social Purpose Enterprise Network (SPEN). This network brings together social purpose enterprise managers to collaborate on business development and action focused on linking enterprises with business and institutional sales opportunities. Membership is open to any social purpose enterprise operating in Toronto.
For more information about the Toronto Enterprise Fund and its services, please see http://www.torontoenterprisefund.ca/
City of Toronto, Ministry of Community and Social Services: Ontario Disability Support Program and Homelessness Partnerships Initiative, a program funded by Human Resources & Skills Development Canada, and administered by the City of Toronto.
United Way Toronto
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