Victoria Foundation broadens its funding mandate

New initiatives seek to enhance focused giving, foster non-profit activities

Heather Gardiner

Heather Gardiner

After reading the signs and considering possible directions, the Victoria Foundation is taking new steps toward creating the transformational change Greater Victoria needs to grow more healthy, vital and vibrant.

Following up on the publication last fall of its eighth annual Vital Signs report, which analyzes and grades various indicators of health and progress in the Capital Region, the foundation has unveiled two new initiatives.

The first, the Community Knowledge Centre, is an online resource containing detailed information on local not-for-profit and charitable organizations. The goal, said foundation board chair Deirdre Roberts, is to make it easier for foundation donors and other interested parties to target local programs and projects that need support.

A search function allows website users to drill down further and find listings for organizations that support a particular population, serve a specific geographic area or address particular issues in the community.

“The community can find out how to contribute to immediate needs and the organizations themselves can discover ways of working together to help address complex issues,” Roberts said.

Vital Loans, the second of the two initiatives unveiled today at Government House, is designed to provide non-profits with up to $500,000, financed over 36 months, to undertake projects or program enhancements.

Victoria Foundation and partner Island Savings Credit Union have created a Vital Loans fund, from which donor investments will act as collateral for organizations that wouldn’t qualify for a conventional loan.

Island Savings chief financial officer Bill Snell said the loans can be used either to cover costs associated with a specific project, or to cover operational costs while groups plan a special project that may have a future revenue stream.

“It allows them to get their programs out in the community, as opposed to (having to build) the nest egg behind it first,” he said.

Pacific Opera Victoria is the first group approved for a loan under the program. It will use the funds as “bridge financing” as it produces a citywide festival aimed at bringing various aspects of opera to children and families in the Capital Region.

“An important part of making this festival happen was acquiring the short-term capital we would need to finance three productions simultaneously,” said POV executive director Patrick Corrigan.

The loans program is an example of “mission-based investing,” Snell said, which aims to provide cash flow for organizations whose values and operational goals and approach match those of potential donors.

Applicants will be assessed by both the foundation and Island Savings for the strength of their business plan and management, he added.

“We are anticipating that with this program, it is going to draw a lot of interest,” Snell said. “Whether it’s arts and culture or other groups, they’ll be looking at it closely.”

editor@vicnews.com

Foundational supports

• The Victoria Foundation’s Community Knowledge Centre resource is at ckc.victoriafoundation.bc.ca

• Criteria and other details of the Vital Loans program can be found at victoriafoundation.bc.ca/vital-loans

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Muddy Valley Farm in rural Saanich is calling for witnesses after its large metal gate was stolen overnight on Monday, Jan. 18. (Muddy Valley Farm/Facebook)
Rural Saanich farm reports large metal gate stolen

Muddy Valley Farm gate stolen overnight by ‘at least two people’

A pinniped was attacked by an unseen predator off the shores of Dallas Road Monday night. (Courtesy of Steffani Cameron)
VIDEO: Seal hunting, not being hunted in video shot off Dallas Road

Victoria woman captures footage of pinniped activity off Dallas Road

Members of the Victoria Police Department, some of whom are shown here observing a moment of silence for victims of a mass shooting in Nova Scotia, experience stress and potential trauma more than most other workers, says Chief Const. Del Manak. While the number of shifts lost at VicPD are soaring, he sees it as a sign people are taking their own health and wellness seriously. (Black Press Media file photo)
Skyrocketing number of lost shifts at Victoria police has a positive side, chief says

Chief Const. Del Manak says officers, staff being more proactive looking after their mental health

A Seed and Stone rendering for White Rock, B.C. (Seed and Stone rendering)
Songhees Nation to open two Victoria cannabis stores spring 2021

Seed and Stone stores will open on Gordon Street and in the Bay Centre

Syringe is prepared with one of B.C.’s first vials of Pfizer vaccine to prevent COVID-19, Victoria, Dec. 22, 2020. (B.C. government)
B.C.’s COVID-19 caseload stays steady with 465 more Tuesday

No new outbreaks in health care facilities, 12 more deaths

Stand up paddleboarder Christie Jamieson is humbled to her knees as a pod of transient orcas put on a dramatic show on Jan. 19 in the Ucluelet Harbour. (Nora O’Malley photo)
Updated: Ucluelet paddle boarder surrounded by pod of orcas

“My whole body is still shaking. I don’t even know what to do with this energy.”

Chilliwack ER doctor Marc Greidanus is featured in a video, published Jan. 18, 2021, where he demonstrates and describes effectiveness of various styles of masks. (Youtube)
VIDEO: Emergency room doctor runs through pros and cons of various masks

‘We’ve been asked to wear a mask and it’s not that hard,’ Greidanus says.

(Pixabay photo)
‘Cocaine bananas’ arrive at Kelowna grocery stores after mix up from Colombia: RCMP

Kelowna RCMP recently concluded an international drug investigation after finding cocaine in local grocers’ banana shipments in 2019

New Westminster TV production designer, Rick Whitfield, has designed an office in a box for British Columbians in need of a private workspace. (BC Box Office photo)
PHOTOS: B.C. man designs ‘box office’ solution for those working from home

‘A professionally designed workspace on your property, away from the distractions of home’

(Pixabay photo)
VIDEO: Tip to Metro Vancouver transit police helps woman 4,000 km away in Ohio

Sgt. Clint Hampton says transit police were alerted to a YouTube video of the woman in mental distress

A woman types on her laptop in Miami in a Monday, Dec. 12, 2016, photo illustration. THE CANADIAN PRESS/AP/Wilfredo Lee
British Columbia government lax on cybersecurity practices, auditor reports

The audit did not highlight a specific threat, but it found breaches in cybersecurity are increasing globally

A mattress on fire gutted the second floor hallway at Town Park Apartments C-block Jan. 17. (Port Hardy Fire Rescue images)
‘Suspicious’ Port Hardy apartment fire could keep tenants out of their homes for months

A burning mattress created smoke and heat, causing several tenants to jump from windows

Cranbrook Food Bank coordinator Deanna Kemperman, Potluck Cafe Society executive director Naved Noorani and Sunshine Coast Community Services Society executive director Catherine Leach join B.C.’s new Municipal Affairs Minister Josie Osborne on a video call about B.C. gaming grants, Jan. 19, 2021. (B.C. government)
B.C. gaming grants reorganized for COVID-19 priorities

Minister highlights community kitchens, food banks

Most Read