Posts Tagged ‘Social finance’

Canada’s social economy about to get a boost, but problems remain

February 7th, 2020 by Brian Iler

This article was first published on rabble.ca

Canada’s social economy — those social enterprises (nonprofits, charities and co-operatives) that generate income in pursuit of social goals instead of profit — is about to get quite a boost.

Quietly, but thoughtfully and effectively, the federal government has initiated and funded, with serious money, a brand-new program creating the Social Finance Fund, to drastically expand the social economy.

This year, $50 million is flowing, and is set to quickly increase to $75 million per year for the next 10 years.

The fund is intended to address a major impediment to growth of the social economy — the shortage of investment capital.

While the private sector readily raises millions through Bay Street’s financial institutions, social enterprises don’t attract their interest. Instead, to be successful, social enterprises rely heavily on the communities they serve for financial support. And that often isn’t enough.

Hence the fund.

The creation of the fund was one of 12 recommendations in support of social innovation and social finance made to the federal government made in August 2018 by a steering group broadly representative of social economy organizations. Continue reading “Canada’s social economy about to get a boost, but problems remain” »

Social finance: Challenges for its legal regulation

June 28th, 2018 by Ted Hyland

This article was first published on rabble.ca.

Last month, the Senate Standing Committee on Social Affairs, Science and Technology issued a report entitled The Federal Role in a Social Finance Fund. The Committee’s recommendations included the federal government creating and contributing to a national social finance fund. This recommendation, among others from the Committee, aligns with, for example, the social enterprise strategy of the Ontario government.

For all of the optimism percolating through the Senate report and Ontario’s strategy there is the challenge of how to reconcile two dynamics that historically have been opposed: the private interest for profit and the common interest for public benefit. Social finance is about harnessing capital and the forces of the market to solve social problems. It’s about commercializing social, environmental and cultural problems that traditionally were addressed by government as part of an overall goal of wealth redistribution and creation and protection of public goods. Social finance represents a shift: addressing these problems is an opportunity for wealth creation, as well as doing good. Continue reading “Social finance: Challenges for its legal regulation” »

Offering Statements for Co-ops 101

March 22nd, 2013 by Iler Campbell

Brian recently presented a webinar offering statements for co-operatives to the CoopZone Legal Network. Offering statements can be a powerful tool for financing a project from the grassroots.  If you’re curious about how to go about raising money through an offering statement give Brian’s presentation a read (pdf) or give us a call.

UPDATE: CoopZone has made a transcript of this webinar avialble. Check it out (pdf). Also see a sample offering statement  here.

Principles for Community Financing – A new paper from the ONN

July 25th, 2012 by Iler Campbell LLP

The Ontario Nonprofit Network has just released a new discussion document, “Principles for Community Financing in Ontario” (pdf) into which Brian Iler had considerable input.

The paper is intended to provide a foundation for collective action and discussion on the topic of nonprofit financing. Towards this goal, it lays out eight foundational principles for community financing which the authors, the Ontario Social Economy Roundtable, a constellation of the ONN, hope will contribute to greater understanding and engagement in the field of community based financing in Ontario and in other jurisdictions.