TD Bank opens applications for its 2023 TD Ready Challenge to address barriers to affordable housing
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TD Bank announced on August 9 that applications are now open for the 2023 TD Ready Challenge.
This year, TD will be using the challenge to support nonprofit and charitable organizations focused on finding innovative ways to address systemic barriers to affordable housing.
This includes transitional to permanent homes, and to help increase access to affordable and stable housing for those who need it most.
A total of 10 grants will be made available, each worth $1 million.
"Access to affordable housing is a complex issue that will only be improved through collaboration across the public sector, private sector and not-for-profit organizations," said Janice Farrell Jones, SVP of Sustainability and Corporate Citizenship at TD Bank, in a statement.
“We recognize the impact housing can have on an individual's health and economic well-being, and with these grants, want to help enable organizations from across our footprint to develop diverse and innovative solutions that could break down barriers and provide greater access to affordable and stable housing for vulnerable people,” she added.
This mission statement aligns with TD Pathways to Economic Inclusion, a social framework that the Bank announced in March 2023. It focuses on three areas where the Bank seeks to contribute to inclusive financial and economic outcomes — employment access, financial access, and housing access.
TD helps provide financial tools and advice to help people access housing and to remain in their homes, and also supports organizations that help contribute to the supply of affordable housing,
“At TD, we know that affordable housing is a major concern for individuals, families, and non-profit organizations across North America,” said Shelley Sylva, Head of U.S. Corporate Citizenship at TD Bank.
While many people are impacted by the cost and availability of housing, some groups are disproportionately affected.
“This year's TD Ready Challenge Grant competition expands our support for these efforts in the communities where we live and work and is a testament to our commitment to supporting the terrific work that non-profit organizations are doing to increase access to safe and affordable housing,” added Sylva.
The TD Ready Challenge is a key component of the Bank’s global corporate citizenship platform.
Applications for the grants will be accepted until September 13, 2023. For more information, click here.