TD Charitable Foundation Pledges $7 Million to Bolster Affordable Housing Efforts
In an effort to combat the growing affordable housing crisis in the United States, the TD Charitable Foundation, the philanthropic arm of TD Bank, has announced a substantial pledge of $7 million in grants. This initiative is part of the foundation’s 18th Annual Housing for Everyone grant program, designed to support non-profit organizations that facilitate independent living for marginalized communities. The program specifically targets entities that provide rapid re-housing, permanent supportive housing, or transitional housing services within the bank’s operational regions, which extend from Maine to Florida, including Michigan.
The affordable housing crisis has been intensifying, leading to a rise in homelessness, especially among marginalized groups. This issue has been further aggravated by the cessation of pandemic-era assistance and the financial precariousness of low-income renters, culminating in increased eviction rates. Paige Carlson-Heim, Director of the TD Charitable Foundation, has highlighted the crisis as an escalating unsheltered homeless epidemic across the country. The foundation recognizes the indispensable role of non-profit organizations in tackling these challenges and is committed to bolstering their efforts through the Housing for Everyone program.
Since the inception of the Housing for Everyone grant program in 2005, the foundation has allocated over $49 million to upwards of 550 affordable housing projects. A testament to the program’s impact is the experience of Avesta Housing, a beneficiary of the program. Rebecca Hatfield, President & CEO of Avesta Housing, has acknowledged the foundation’s support as instrumental in meeting the housing needs of a diverse demographic of applicants and residents.
The grant program is a testament to the bank’s wider dedication to community enhancement and financial confidence, as encapsulated in the TD Ready Commitment. This corporate citizenship platform is centered on inclusivity, economic vitality, environmental wellbeing, and health, with the objective of forging a more inclusive future for people from all walks of life.
Non-profit organizations eligible for the grant funding are those with a verifiable history of delivering affordable housing or supportive services to populations at risk of homelessness. These organizations must also exhibit successful interventions that have resulted in the stabilization of formerly homeless individuals and families. Grants will be awarded in amounts ranging from $150,000 to $250,000, with the most competitive proposals demonstrating a substantial positive impact on disadvantaged populations.
The application window for the Housing for Everyone grant competition is currently open and will close on February 13, 2024, at 4:00 p.m. (EST). The winners are set to be announced in May 2024. The foundation is eager to support organizations that are making significant progress in addressing the urgent need for affordable housing and support services.
The TD Charitable Foundation’s Housing for Everyone grant program represents a significant endeavor to address the affordable housing crisis and bolster the essential work of non-profits in this arena. By offering considerable grants to organizations with a proven track record of assisting marginalized communities, the foundation is not merely catering to immediate housing requirements but is also nurturing long-term stability and prosperity for individuals and families. This initiative is a pivotal element of the TD Ready Commitment’s vision to cultivate a more inclusive and thriving future for communities throughout the bank’s service areas.
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