Vision for the Initiative

A stronger, more financially resilient non-profit sector with the capacity to deliver sustained impact for Canadians and their communities.

The Opportunity

To spark evidence-based collective action and transform how non-profit financial resilience is understood, measured and strengthened across Canada.

Canada’s non-profit sector is a cornerstone of our economy and communities, with the financial resilience of non-profits and charities key to their ability to deliver impact for good. Yet, despite financial and organizational challenges, there is currently no standardized, evidence-based way to measure or track their financial resilience or capacity to sustain and deliver impact.

Without robust outcomes-based measurement, funders, governments, policymakers, non-profits themselves and sector leaders lack the intelligence to identify risks and vulnerabilities early, target interventions, strengthen organizational resilience, benchmark and track their financial resilience or determine whether investments are improving outcomes for non-profit organizations and the people and communities they serve over time.

Led by the Financial Resilience Institute, together with leading foundations and financial institution partners, we are developing a world-leading Non-Profit Financial Resilience Index, annual reporting and a free individual financial resilience score tool linked to resources for all Canadian non-profits and charities.

As community assets, these will help non-profits, charities and key sector organizations understand, measure and work to maintain or improve their financial and overall resilience, individually and collectively.

Combined with other program offerings and supports, these will enable evidence-based decision making, enhanced governance, outcomes-focused impact measurement, targeted advocacy and more proactive policy and program development - helping more non-profits become resilient and thrive, while building a stronger, more resilient non-profit sector overall.

Outcomes

Positive outcomes from this Initiative and Program will include:

• A stronger, more financially resilient non-profit and charity sector, better equipped to support Canada’s individuals, families and communities, including equity-deserving groups and those who are vulnerable - through enhanced data-driven decision-making and governance, targeted interventions and capacity-building programs and resources that address systemic challenges and move the sector forward.
• Robust data and evidence to reveal sector disparities, support targeted advocacy for financially vulnerable non-profits, equity-deserving groups, regions and sub-sectors, and sharing of best practices, programs and levers that can make a difference. Recognizing that organizations’ financial resilience can change over time, this will foster financial and overall resilience, financial inclusion, sustainability and equitable access to funding and supports, meeting organizations wherever they are at.
• Evidence and momentum to inform a national non-profit financial resilience strategy or catalyze innovation, investment and collective action across the sector, while helping to build more resilient, thriving communities.

This Initiative will give non-profits and key sector players the ability to understand, measure and act to maintain or improve their financial resilience and overall resilience in meaningful ways. This will complement the capacity building leadership and impact innovation already being advanced by leading organizations across our country –working with passion to build a more resilient non-profit sector and resilient, thriving communities.

This financial resilience leadership will build on the Institute’s leading work to advance financial health and resilience for Canadian households and more vulnerable populations, leveraging our peer-reviewed Financial Health and Resilience Index model and over 15 years of dedicated financial health practice. It will also build on our business financial health and resilience reporting and work for Small and Medium Enterprises (SMEs) in Canada and globally.

At a time of scarce funding and growing sector challenges, the Initiative and planned program will equip funders, policymakers, social finance leaders and non-profit organizations to strengthen financial resilience, and ultimately, help sustain and accelerate their impact for individuals, families and communities across Canada.

If you are interested in learning more about the Initiative and exploring how your organization could collaborate with us to drive impact, please contact please contact Katie Sutter, Senior Impact and Engagement Consultant at katie@finresilienceinstitute.org 
or Eloise Duncan, CEO and Founder at eloise@finresilienceinstitute.org