15.08.2022 21:00

Government of Canada funds projects for low-income adults focused on financial well-being

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NORTH YORK, ON, Aug. 15, 2022 /CNW/ - Canadians have been living with the impacts of the pandemic for the past two and a half years, and marginalized adults have been among those most negatively impacted. Many low-income adults have struggled with poverty and social isolation. Financial empowerment services can help them cope with these challenges and more fully participate in their communities. 

Today, the Minister of Families, Children and Social Development, Karina Gould, announced that 11 projects are receiving up to $11.6 million to address the financial empowerment of low-income adults.

Minister Gould made the announcement at the YMCA Employment and Community Program Centre in North York, Ontario. The YMCA of Greater Toronto is receiving $2.7 million for a new financial empowerment and well-being program to increase financial literacy and confidence. Thanks to this funding, the charity will be able to work in partnership with organizations such as the Canada Revenue Agency to provide low-income families across the Greater Toronto Area with access to financial literacy workshops, information sessions and counselling.

The funding is being provided through the Children and Families Component of the Social Development Partnerships Program. This program plays a unique role in furthering broad social goals by making strategic investments to support government priorities related to children and families, persons with disabilities, the voluntary sector, official language minority communities and other vulnerable populations. It provides an opportunity to work in partnership with social not-for-profit organizations to help improve the life outcomes of these target groups.

The Government of Canada launched two calls for proposals on May 25, 2021, representing an investment of up to $39 million over five years, for projects to support financial empowerment of low-income adults and the social inclusion of vulnerable children and youth. Organizations had until July 6, 2021, to submit their proposals.

Quotes

"All Canadians deserve an equitable chance to succeed. The projects we've announced today will help give marginalized adults the tools and resources they need to build their financial literacy and take important steps toward joining the middle class." 
– Minister of Families, Children and Social Development, Karina Gould

"Charitable organizations play a vital role in supporting marginalized and low-income Canadians. The Government of Canada is proud to contribute to this work toward a more equitable Canada."
– Ya'ara Saks, Parliamentary Secretary to the Minister of Families, Children and Social Development and Member of Parliament for York Centre

"We know that many people in our communities have been disproportionately impacted by the pandemic, dimming their potential. This funding will help us support equity-deserving people—particularly those in short-term credit crisis—with education including financial planning skills to increase their overall financial well-being."
Medhat Mahdy, President and Chief Executive Officer, YMCA of Greater Toronto

Quick Facts

  • The Government of Canada is building back a healthier, more inclusive and more equitable Canada by investing in projects that will help marginalized populations adapt and succeed.
  • COVID-19 has had a disproportionate impact on marginalized Canadians, and many have struggled with poverty and social isolation as a result. Financial empowerment services can help low-income adults cope with these challenges and more fully participate in their communities.

Associated Links 
Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience
Government of Canada launches call for proposals to support vulnerable Canadians

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Backgrounder

Social Development Partnerships Program

The Social Development Partnerships Program (SDPP) is a grant and contribution program that supports investment in not-for-profit organizations to help improve life outcomes for children and families, persons with disabilities, and other vulnerable populations. The program is divided into two components: the Disability Component and the Children and Families Component.

The program provides an opportunity to work in partnership with social not-for-profit organizations to help improve the life outcomes of these target groups. Activities funded by the program are expected to lead to the development and sharing of knowledge of existing and emerging social issues; the creation of collaboration, partnerships, alliances and networks; and the development of approaches to respond to existing and emerging social issues.

Social Development Partnerships Program – Children and Families Component

The SDPP Children and Families Component provides funding for socially innovative projects that maximize outcomes and community impact through partnerships and social innovation.

The program enables proven innovative approaches to reach greater numbers of Canadians in response to complex and persistent social challenges facing marginalized populations. This supports the Government of Canada's social innovation priorities, which encourage promising and results-oriented initiatives that increase the impact of federal spending and increase participation from all sectors.

SDPP – Children and Families Component: Calls for Proposals - Financial Empowerment Projects

The 11 projects funded under the SDPP Children and Families Component financial empowerment stream are:

Organization

Project description

H.R.D.A. Enterprises Ltd. (MetroWorks Employment Association)

(Halifax, Dartmouth, Inverness – Nova Scotia)

 

Nova Scotia Financial Empowerment Network

 

This project proposes to increase the financial empowerment of low-income adults by delivering financial literacy training, tax filing services, as well as access to knowledge and tools for accessing government benefits and RESPs.

 

SEED Winnipeg Inc. (Winnipeg, other municipalities and First Nations communities – Manitoba; Inuit communities – Nunavut)

 

Expanding the Scope and Scale of Financial Empowerment in Manitoba

 

This project will provide financial empowerment services (such as tax filing, access to benefits navigation, financial counselling/coaching, financial literacy and access to banking) for low-income Manitobans in Winnipeg and First Nations communities, as well as for Inuit communities in Nunavut.

 

South Asian Women's Rights and Immigrants' Services Inc.

(Toronto – Ontario)

 

Financial empowerment of racialized low-income newcomer adults in the East Danforth neighbourhood

 

This project proposes to develop and carry out financial empowerment services and supports to improve the financial well-being of low-income communities that are racialized, newcomer women and seniors.

 

YMCA of Greater Toronto

(Etobicoke, North York, Mississauga, Pickering, Scarborough, Richmond Hill – Ontario)

Financial Empowerment and Wellbeing Program (FEWP)

 

This project proposes financial empowerment and literacy services. It aims to provide access to financial literacy workshops, information sessions and counselling to local low-income families.

 

YWCA Canada

(Toronto, Cambridge – Ontario; Vancouver, Victoria – British Columbia; Halifax – Nova Scotia; St. John's ­– Newfoundland and Labrador)

 

Dollars and Sense: Economic Empowerment for Low-Income Women and Gender Diverse People

 

The project will help address the needs of participants with a focus on vulnerable and marginalized communities and will improve their economic circumstances and financial knowledge.

 

John Howard Society of Windsor and Essex County (Windsor – Ontario)

 

Financial Literacy and Empowerment Program

 

This project proposes to empower low-income individuals to take the steps necessary to move toward a more positive future by addressing the lack of financial empowerment and literacy program supports and services offered in the region of Windsor-Essex in Ontario.

 

Canadian Refugee Initiative

(Montréal – Quebec)

 

Financial Empowerment of Low-Income Racialized Newcomer/Refugee Adults in Montréal

 

This project proposes to financially empower an additional 600 to 1,200 low-income racialized immigrants and refugees, using a series of tailored workshops, annual tax clinics, and financial/ entrepreneurship coaching to ensure financial wellness.

 

Union des consommateurs

(Montréal, Thetford-Mines, Laval, Joliette, Rivière-du-Loup, Sherbrooke, St-Hyacinthe, Québec, Lévis, Trois-Rivières, Shawinigan – Québec)

 

Vers l'autonomie financière : la force d'un réseau

 

This project proposes to provide financial empowerment activities and services to improve various aspects of the financial well-being of low-income Canadians. The project will benefit approximately 25,360 low-income Canadians, including newcomers, women, people experiencing homelessness, people with low literacy skills, some Indigenous communities, low-income households and low-income groups.

 

Greater Trail Community Skills Centre Society

(Trail – British Columbia)

 

Financial Navigation Training for the Basin and Boundary

 

This project proposes to provide financial empowerment activities and services by creating a financial navigation training curriculum for low-income individuals and service providers that is adjusted for this demographic.

 

Employ to Empower Foundation

(Vancouver – British Columbia)

 

Scaling Up: Employ to Empower

 

In collaboration with their partners, the organization proposes to deliver programs and services that will assist in providing mentorship, coaching and advisory services to low-income adults living in the Downtown Eastside of Vancouver.

 

Fédération des aînés franco-albertains

(Edmonton, Calgary – Alberta)

Navigateur communautaire pour l'autonomie financière de nos aînés

 

This project proposes to increase community capacity to help low-income francophone seniors in terms of financial empowerment, such as financial assistance, retirement planning and an understanding of governmental assistance systems. The project aims to create a contact hub that seniors and their families can reach out to when they need assistance related to financial well-being.

 

 

SOURCE Employment and Social Development Canada

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