In 2020, it was vital that the philanthropic sector step up and contribute the best it could in responding to the urgent needs caused by COVID-19. McConnell joined the Give5 campaign and brought its spending up to 5% of the endowment.
We disbursed $27 million to over 480 community organizations. This includes COVID-19 funding of $4.8 million, which supported 70 different projects and organizations, in response to 390 applications made through three short-term funds (Social Innovation Fund Organizational Rebuilding, Frontline Healthcare and COVID Emergency Fund). Our support addressed short-term needs such as food, shelter and healthcare, as well as to charities and nonprofits trying to restructure their operations to adjust to a dramatically changed situation.
Funding was disbursed to almost all territories and provinces of the country, the greatest proportion being to Ontario, Quebec and British Columbia, where there are many large charities and nonprofits, including some with a national presence (for example, MakeWay and David Suzuki Foundation in BC; Philanthropic Foundations Canada, Dunsky Energy and Food Secure Canada in Quebec; Journalists for Human Rights, Clean Economy Fund and First Nations Child and Family Caring Society of Canada in Ontario — to name just a few).
Partners supported by province/territory:
British Columbia: 75
New Brunswick: 5
Northwest Territories: 3
Nova Scotia: 9
We also made impact investments in several funds during 2020: Stonebridge Infrastructure, Jonathon Rose Real Estate fund, and Windmill Microlending. The Foundation’s impact investing portfolio now stands at $105.7 million, which is 16% of the total endowment.