Tapestry Community Capital

Background of the organization:

Since 1998, Tapestry Community Capital (Tapestry) has supported some of Canada’s largest social enterprises in successful community financing campaigns. It has worked with organizations across multiple sectors, from renewable energy to co-working, in raising and managing more than $80 million from 4000 local investors. Initially developed as a program under the Toronto Renewable Energy Co-Op (TREC), Tapestry has inspired some of Canada’s most notable community bond campaigns.

Grant Description:

For over a decade the McConnell Foundation has supported the introduction of innovative financial models to advance social change. Examples range from the Registered Disability Savings Plan (2008) to the Manitoba Doula Social Impact Bond (2019). To this promising landscape, Tapestry Community Capital, through Toronto Renewable Energy Co-Op (TREC), is contributing a community bond model that, having succeeded in Ontario, is ready to scale to other provinces.

This project will enable Tapestry to adapt, prototype and test new elements of its model to enable a greater national presence, including:

• – the ability to remotely deliver certain program components
• – the development of a national coaching network to provide on-the-ground services outside Ontario
• – translation of material into French in order to cultivate new relationships in Quebec
• – delivery of a “community bond camp” training program — a subsidized introduction to help communities develop and test potential bond ideas.

A grant from the Foundation would be used to support further development costs including consultant fees, translation and subsidies for organizations to take part in the Bond Camp.