Engaging Canadians to build a more, “innovative, inclusive, sustainable, and resilient society” is the mission of the J.W. McConnell Family Foundation, which was founded over 75 years ago. One of Canada’s first family foundations, McConnell contributes to the charitable sector in Canada through grants, and the development of Foundation initiatives including one on Social Finance. The Community Forward Fund (CFF) is pleased to announce that McConnell, with an initial investment, joins 6 other Canadian investors in strengthening local community organizations through loans and financial capacity building with CFF. The Montreal-based Foundation is CFF’s first investor outside the province of Ontario.
For philanthropic foundations, the Community Forward Fund offers an opportunity to diversify investment portfolios while delivering social impacts. Following the recommendations of the Social Finance Task Force, McConnell aims to have a percentage of its assets in impact investments by 2020.
“We are very pleased to welcome the J.W. McConnell Family Foundation as an investor in the Community Forward Fund,” says CEO Derek Ballantyne. “McConnell is a leader in many areas, and we are pleased to be working together to identify and assist organizations through loans, while supporting the Foundation’s investment objectives.”
“This investment expresses the Foundation’s commitment to increasing the community sector’s access to financial tools for addressing society’s most pressing challenges, writes Stephen Huddart, President and CEO of the J.W. McConnell Family Foundation. “We are pleased to be able to add the Community Forward Fund to our growing portfolio of impact investments”.