GILSS has been awarded $20,000 to help us develop a long-term social finance investment strategy, and draft a lease template for use and stewardship of lands that we acquire and hold for this project. The funding is from the federal government’s Investment Readiness Program (IRP), with $15,000 delivered through the Victoria Foundation on behalf of the Government of Canada, and a $5,000 top-up from Coast Capital. We are very grateful for their support, and for how the funding will help prepare us for future investments.
The aim of the federal government’s Investment Readiness Program (IRP) is to help organizations build capacity to participate in Canada’s growing social finance market. A complement to grants and donations, social finance investors want to support projects and activities that have a positive social, cultural or environmental impact in communities while generating –often modest –financial return for the investors.
As a social purpose organization, the Gabriola Island Land Stewards Society (GILSS) applied for funding to help us develop a long-term social finance investment strategy, and draft a lease template for use and stewardship of lands that we acquire and hold.
The project will involve working with a consultant to learn how the social finance system works and explore our options. We will be inviting a few local organizations to participate in the project, based on the likelihood that they would want to use land we hold for activities that benefit the community.This work will help GILSS get investment ready, and provide a lease template that will streamline discussions on lease terms and conditions.