USThe 2020 TD Ready Challenge
The TD Ready Challenge is an annual North American initiative, which supports organizations developing innovative solutions for a changing world. Recipients must be organizations that have impactful and measurable solutions focused on helping to open doors for a more inclusive and sustainable tomorrow.
This signature initiative, created and funded by TD, is a key component to delivering on the bank’s corporate citizenship platform, the TD Ready Commitment. The COVID-19 pandemic has had an immense impact on society and that's why this year, the 2020 TD Ready Challenge focuses on supporting innovative solutions that address the impacts of the pandemic. This year's TD Ready Challenge is part of the $25 million (CAD) that TD has allocated to help strengthen community resilience and COVID-19 recovery through the TD Community Resilience Initiative.
The application window for the 2020 TD Ready Challenge has closed. We thank all organizations that have submitted applications. This November, successful grant applicants of the 2020 TD Ready Challenge will be notified. Please check back for our announcement of the selected grant recipients.
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Challenge Overview
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Common Questions
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Recipients
Each year, the TD Ready Challenge invites eligible organizations to submit applications that offer solutions for a problem statement that is connected to one of the four drivers of change of the TD Ready Commitment: Financial Security, Vibrant Planet, Connected Communities and Better Health. The 2020 TD Ready Challenge Problem Statement focuses on addressing the impacts of the COVID-19 pandemic.
Background
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.
Problem Statement
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).
The Grants
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.
Eligibility Criteria
Programs presented in applications must deal directly with people and provide benefits to people and communities. Applicants can be Canadian or US organizations as described below:
- Canadian registered or incorporated charities and not-for-profits
- U.S. charitable, non-profit organizations as defined by section 501(c)(3) of the IRS tax code
- 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.
- Pageants
- 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
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Important Dates
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Event
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September – mid October
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An internal TD North American Judging Panel will review applications and select applications to move into final round of reviews.
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Mid-October
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TD Ready Challenge finalists to be notified and next steps will be shared.
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November
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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.
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Mid-November
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2020 TD Ready Challenge successful recipients will be selected and notified.
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Final Round Judging Panel
A North American Executive judging panel will consist of TD executives and external subject-matter experts who will evaluate final applications and select successful recipients for the 2020 TD Ready Challenge.
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
General inquiries
Yes. All applications must be submitted electronically via the application portal.
Individual meetings with applicants are not possible. The online submission ensures that all applications are submitted and reviewed in a consistent way.
Given the time required to connect with all potential applicants, application reviews are not possible. The online submission is the best way to manage everybody's time and to ensure that all applications are submitted and reviewed in a consistent way.
Grant applications must be received by 4:00 p.m. Eastern Daylight Time on Thursday, August 13, 2020. In fairness to all applicants, late and/or incomplete applications will not be considered. Applicants are responsible for allowing enough time when submitting their application to ensure its timely submission.
No. The initiative proposed needs to be delivered in Canada, US or both.
Submitting the application
No. You may submit only one application to the 2020 TD Ready Challenge. Additional applications will not be reviewed.
We require your organization's two most recent audited financial statements for the 2020 TD Ready Challenge. Please note that accountant's reviews of non-audited compilations are not acceptable.
No. The documentation requested is required in order to submit a complete application. In fairness to all applicants, incomplete applications will not be considered.
All required documents must be in either PDF format or Word format. The minimum font size for the detailed project application must be 10 point. Excel files will not be accepted. Please provide your organization's two most recent audited financial statements for the 2020 TD Ready Challenge, which must be scanned and condensed into a single document. You must not upload separate files as they will not be considered part of the application.
Shortly after submitting your application, you will receive an e-mail notification confirming your submission.
Yes. A copy of your application will be embedded in your e-mail notification confirming your submission. We recommend that you keep a copy of the application for your own records. However, we ask that you do not send it to us as this may lead to duplicate records.
If you receive this error message, please contact a member of your organization's technology staff. You may need to adjust your computer's settings in order to access the application.
Yes. You can copy information from an existing Word document and paste it into the appropriate text box in the application.
Evaluation
There are two steps in the evaluation process:
1. All applications submitted by August 13, 2020 will be reviewed by a TD North American Judging Panel consisting of members of the Global Corporate Citizenship team from both Canada and the United States. Based on a percentage scoring system, this North American team will review all applications and select the applicants who will move to the final round of reviews. All applicants, whether successful or not, will be notified by email.
2. Selected applicants who move into the final round of review will have their applications assessed by our TD North American Executive Judging Panel, consisting of TD executives and external subject matter experts from both Canada and the United States. Successful recipients will be contacted by email by the end of November 2020.
Final funding decisions will be made by the TD North American Executive Judging Panel. Successful recipients will be announced by the end of November 2020.
Selected members of the TD Global Corporate Citizenship team in Canada and the United States will review all applications and provide an assessment score for each application based on the criteria and weighting set out below:
Strategic alignment: 30%
The need or opportunity described by the applicant aligns with the 2020 TD Ready Challenge Problem Statement.
Feasibility of the proposal: 30%
The intended outcomes or results of the 2020 application proposal are feasible considering the activities, resources, and 12-month funding window. The applicant will be in a reasonable position to expand the impact of the 2020 application proposal within 12-36 months.
Well-positioned team: 20%
The mission of the applicant aligns with the 2020 TD Ready Challenge Problem Statement. The applicant is well-positioned to deliver on intended results and objectives.
Value for money: 20%
The budget is reasonable considering the activities, outputs, and scale of the application process.
Applicants will not be advised of their final assessment scores. In addition, a financial analysis of the organization will also be conducted to measure the financial health of the organization.
For 2020, the Bank's total funding commitment for the TD Ready Challenge remains at $10 million CAD. Due to the COVID-19 pandemic, the amount of each available grant will range from $350,000 CAD to $1 million CAD (approximate equivalent of $260,000 USD to $745,000 USD). Organizations will be able to request their grant amount in CAD or USD based on where the organization's head office is geographically located in either Canada or the United States.
Any grant amounts requested in USD will be converted to CAD using the exchange rate available on close of business day on the Submission Deadline Date (the "Applicable Exchange Rate"). Organizations residing in the United States will receive their grant amount in USD, the exact amount to be calculated by TD on the date the grant award is announced by applying the Applicable Exchange Rate to the CAD equivalent.
In the application, you will be asked to request a grant amount within the range stated above of $350,000 CAD to $1 million CAD (or for US organizations with the approximate equivalent range of $260,000 USD to $745,000 USD). Organizations must request grant amounts within this range in minimum increments of $5,000 CAD or $5,000 USD up to the maximum amount of $1 million CAD or approximate $745,000 USD equivalent.
Should your organization be selected as a successful grant recipient, the amount of the grant awarded may not equal the amount requested in your application. The TD North American Executive Judging Panel will decide the final amount of the grant awarded, which could be more or less than the amount requested by your organization. The final amount will not be required to use a $5,000 CAD or $5,000 USD increment, but will not exceed the $1 million CAD (or approximate $745,000 USD equivalent) maximum available per grant. In determining the final amount of the grant to be awarded, the TD North American Executive Judging Panel will consider and be sensitive to the amount originally requested by the organization.
After the grant is awarded
2020 TD Ready Challenge successful grant recipients will receive their specific grant amount in a maximum of three annual installments, the amount of each installment to be based on the length of the project, the size of the grant awarded and cannot be more than 20% of the organization's 2020 operating budget. The exact amount of each installment to be mutually agreed in writing between the Bank and each recipient. An executed grant agreement between the Bank and each successful recipient will be required, which will include the mutually agreed upon installment payment schedule. Please note that 10% of total funds to be awarded will be held back until written proof of completion is received by the Bank.
Yes. If your organization is successfully selected to receive a grant award, you will be required to submit progress and financial reports. The number of progress reports and financial reports will be mutually agreed to in writing between the Bank and each recipient and the total numbers of reports will be based on the length of the project and the size of grant awarded. An executed grant agreement between the Bank and each successful recipient will be required which will include the number of mutually agreed upon progress reports and financial reports required.
No. Unless an extraordinary circumstance is identified and discussed with the Bank in advance, grants may not be used for any other purpose than the purpose set out in the organization's original 2020 TD Ready Challenge application.
If your organization is selected to receive a 2020 TD Ready Challenge grant, the grant funds must be put to use no later than three years from the award date of the grant.
Please contact us by email at tdreadycommitment@td.com. Include "The 2020 TD Ready Challenge" in the subject line of your email. A member of our team will respond by email within 3-5 business days.
Specific questions for US organizations
In the United States, the TD Ready Challenge is handled by the TD Charitable Foundation, which can only make grants to eligible 501(c)(3) organizations. If you have recently received your determination letter from the IRS, you may not yet be in the IRS database against which we match potential applicants. Please e-mail a scanned copy of your newly issued 501(c)(3) determination letter to us at US-CharitableGiving@TD.com. A member of the TD Charitable Foundation team will give you further instructions on how to proceed with the grant competition application.
No. US organizations will be paid in USD. For more information see the FAQ: " What grant amounts are available for 2020?"
The 2019 TD Ready Challenge Recipients
This November, successful grant applicants of the 2020 TD Ready Challenge will be notified. Please check back for our announcement of the selected grant recipients.
In its second year the TD Ready Challenge received 378 North American applications. Each application was thoroughly reviewed, and fifteen organizations were invited to present their solutions before a panel, out of which, ten applicants were chosen to receive grants. The ten successful recipients of the 2019 TD Ready Challenge are: