The TD Ready Challenge is an annual North American initiative that supports organizations working to develop innovative solutions for a changing world.
Created and funded by the Toronto-Dominion Bank, the initiative is a key component of the bank’s corporate citizenship platform, TD Ready Commitment. Given the enormous impact COVID-19 has had on the world, this year TD made the decision to focus the 2020 TD Ready Challenge on supporting innovative solutions that address impacts of the pandemic.
At the core of the TD Ready Commitment is the recognition that the interconnectedness of its four drivers of change — Financial Security, Vibrant Planet, Connected Communities and Better Health — are key to helping build the confidence necessary to help create an inclusive and sustainable future for everyone. The pandemic is not only a health crisis but also a social, economic and environmental one. In the face of the pandemic, these links have never been clearer.
To that end, the 2020 TD Ready Challenge seeks to provide financial support to organizations that have designed innovative, scalable, and/or replicable solutions to help address the pandemic-caused issues faced by communities that are experiencing disproportionate impacts of COVID-19 across North America. Solutions must address at least one (but can address more) of the four interconnected drivers of change of the TD Ready Commitment.
Through the challenge, a total of $10 million CAD will be available in the form of one-time grants ranging from $350,000 CAD to $1 million CAD each (approximately $260,000 to $745,000 USD) for initiatives that support communities experiencing disproportionate impacts of COVID-19 based on factors such as race, ethnicity, socioeconomic status and geographic location; demonstrate a promising approach to building community resilience; align with one or more of the drivers of change of the TD Ready Commitment; are replicable in and for additional communities and populations (or is a pilot project with material evidence of viable success and scalability); have a clear evaluation and measurement process to track impact in place; are focused geographically in areas across North America where TD operates.
The bank will not fund applications for initiatives that are not innovative in nature (e.g., applications for the purchase of medical materials or personal protective equipment or whose purpose is to write research papers), or organizations that have received funds or grants from TD of $250,000 CAD or more between August 31, 2019 through and including August 31, 2020.
A maximum of 20 percent of the grant award can be directed toward organizational administration (e.g. office space and supplies, salaries, venue rentals, evaluation reporting etc.). Costs directly related to delivering an initiative are not considered to be administrative.
All Canadian-registered or incorporated charities and not-for-profits and U.S. organizations defined as nonprofit under section 501(c)(3) of the IRS tax code are eligible to apply.
All proposals must be submitted through the online portal by 4:00 p.m. August 13. Starting in September, an internal TD North American judging panel will review applications and select applications to move into final round of reviews, with finalists to be notified by mid-October. 2020 Ready Challenge recipients will be selected and notified in November.
See the TD website for additional information and/or to start the application process.