The 2020 TD Ready Challenge
When we launched our global corporate citizenship platform, the TD Ready Commitment, in March 2018, we did not anticipate that a global pandemic would hit two years later and have profound impacts around the world. But at the time we knew a few things: that change is a fact of life, that we live in a period of unprecedented change, and "that change can be disruptive and has the potential to increase social and economic exclusion," as our President and CEO Bharat Masrani said.
Today, COVID-19 and its consequences have created a remarkable climate of uncertainty that has rippled through all aspects of our society. In the past few months alone, several studies have shown the significant impacts already being felt across North America, though not all people are experiencing these effects equally.1 There is growing evidence that COVID-19 is disproportionately impacting certain populations across North America including:
- Individuals from racialized and/or newcomer communities;1
- Those who are a part of Indigenous communities; 2
- Those that have unstable employment or inflexible working conditions; 2
- Those experiencing insecure, inadequate, or nonexistent housing conditions; 2
- Individuals living in remote communities and are socially or geographically isolated. 2
As people continue to navigate a new disrupted reality that includes physical distancing, experts and industries are currently working on what the new normal could look like post pandemic. History has shown how innovation plays a critical role in helping people develop the ability to overcome obstacles and have confidence in the future. Generating new ideas and solutions that address the needs raised by the current crisis will be key to help communities emerge resilient, inclusive, vibrant and ready for the continually changing future.
At the core of the TD Ready Commitment is the recognition that the interconnectedness of its four drivers of change (Financial Security, Vibrant Planet, Connected Communities and Better Health) are key to helping build the confidence necessary to help create an inclusive and sustainable future for everyone. The pandemic is not only a health crisis, but also a social, economic and environmental one. In the face of the COVID-19, these intrinsic links have never been clearer, and a holistic approach is needed to address the impacts.
That's why this year, we have made the decision to focus the 2020 TD Ready Challenge on supporting innovative solutions that address the impacts of the pandemic, specifically for communities that are experiencing disproportionate impacts of COVID-19.
This November, successful grant applicants of the 2020 TD Ready Challenge will be notified. Successful recipients of a grant will be those who have created and developed solutions focused on helping drive accelerated, sustained and equitable recovery in the face of COVID-19. Specifically, the main focus of these solutions will be to help address existing social inequities that have been exacerbated by the pandemic. In addition, solutions will include focus on any one or more of the four interconnected drivers of change of the TD Ready Commitment.
The 2020 Challenge
The 2020 TD Ready Challenge seeks to provide financial support to organizations that have designed innovative, scalable and/or replicable solutions to help address the pandemic-caused issues faced by communities that are experiencing disproportionate impacts of COVID-19 across North America. Solutions must address at least one (but can address more) of the four interconnected drivers of change of the TD Ready Commitment (Financial Security, Vibrant Planet, Connected Communities and Better Health).
To help fund more solutions in response to the needs created by COVID-19, the 2020 TD Ready Challenge has changed its grant amounts for this year. A total commitment of $10 million CAD will be available through one-time grants ranging from $350,000 CAD to $1 million CAD each (approximate equivalent of $260,000 USD to $745,000 USD) for initiatives that address this year's problem statement.
We will have a clear preference for programs:
- That support communities experiencing disproportionate impacts of COVID-19 based on factors such as race, ethnicity, socioeconomic status and geographic location
- Where the grant will be used to address impacts of COVID-19 by demonstrating promising approaches to helping build community resilience
- That align with one or more of the drivers of change of the TD Ready Commitment (Financial Security, Vibrant Planet, Connected Communities and Better Health)
- Have wide demographic or geographical in the areas TD operates within across North America
- Which will use the grant to scale and / or replicate solutions to additional communities or populations (or pilot projects with material evidence of viable success and scalability)
- Have a clear evaluation and measurement process to track impact
- Where the organization has not received any funds or grants from TD of $250,000 CAD or $250,000 USD or more from August 31, 2019 through to and including August 31, 2020
Additional considerations include:
- We will not fund grant applications for initiatives that are not innovative in nature, meaning they do not enable new approaches. For example, initiatives that purchase medical materials or personal protective equipment or whose purpose is to write research papers are not eligible.
- A maximum of 20% of the grant award can be directed towards organizational administration (e.g. office space and supplies, salaries, venue rentals, evaluation reporting etc.). Costs directly related to delivering an initiative are not considered to be administrative.
- Elementary and secondary schools
- Religious organizations (i.e. organizations whose primary purpose is religious practice or worship). However, faith-based organizations that provide programs and services for broader community benefit, may be considered.
- Sports teams and sporting events
- Individuals or individual pursuits/fundraising initiatives
- Recreational groups (lodges, fraternal clubs, self-improvement organizations, etc.)
- Conferences, trade shows, fairs
- Production of videos, DVD’s and television shows
- TD Employees
- Winners of 2018 and 2019 TD Ready Challenge
Challenge Structure and Calendar
September – mid October
An internal TD North American Judging Panel will review applications and select applications to move into final round of reviews.
TD Ready Challenge finalists to be notified and next steps will be shared.
A TD North American Executive Judging panel and subject matter experts will assess applications that move into final round of review and determine the selected recipients.
2020 TD Ready Challenge successful recipients will be selected and notified.
1 Centers for Disease Control and Prevention, "COVID-19 in Racial and Ethnic Minority Groups," https://www.cdc.gov/coronavirus/2019-ncov/need-extra-precautions/racial-ethnic-minorities.html
2 Government of Canada, "Vulnerable populations and COVID-19" https://www.canada.ca/en/public-health/services/publications/diseses-conditions/vulnerable-populations-covid-19.html