TD Bank Group to award $10 million in grants for ‘innovative solutions’

TD Bank Group will award $10 million in grants for projects that address affordable housing. Applications for the sixth annual 2023 TD Ready Challenge are being accepted through Sept. 13. A total of 10 grants are available.

In this year’s Ready Challenge, TD is seeking to support eligible non-profit and charitable organizations focused on finding innovative solutions that address systemic barriers to affordable housing — from transitional to permanent homes — and to help increase access to affordable and stable housing.

“Access to affordable housing is a complex issue that will only be improved through collaboration across the public sector, private sector and not-for-profit organizations,” Janice Farrell Jones, SVP of sustainability and corporate citizenship for TD, said in a statement. “We recognize the impact housing can have on an individual’s health and economic well-being, and with these grants, want to help enable organizations from across our footprint to develop diverse and innovative solutions that could break down barriers and provide greater access to affordable and stable housing for vulnerable people.”

To be considered for a grant, eligible non-profit and charitable organizations should focus on:

• Expanding access to secure housing

• Providing essential support for more vulnerable community members

• Collaborating to enhance and facilitate housing improvement initiatives

• Promoting the supply and renovation of affordable housing

This year’s problem statement for the TD Ready Challenge aligns with TD Pathways to Economic Inclusion, a social framework announced by the bank in March 2023, which focuses on three areas where the bank seeks to contribute to inclusive financial and economic outcomes: employment access, financial access, and housing access, according to a press release.

TD provides financial tools and advice through its business, to help people access housing and to remain in their homes and supports organizations that help contribute to the supply of affordable housing. In addition, according to the release, TD supports organizations through philanthropy, that are focused on increasing access to secure housing and related supports, as well as organizations that focus on helping to improve and support the supply and refurbishment of affordable housing.

“At TD, we know that affordable housing is a major concern for individuals, families, and non-profit organizations across North America. For 17 years, we’ve supported affordable housing organizations and projects in the U.S. through our Housing for Everyone Grant Competition,” Shelley Sylva, head of U.S. Corporate Citizenship, TD Bank, said in a statement, adding that this year’s TD Ready Challenge Grant competition expands the bank’s support for those efforts.

Once the submission deadline passes, there will be three rounds of assessment by a TD North American judging panel from both the U.S. and Canada. Final funding decisions will be made by the panel and announced in January 2024. Organizations chosen to receive a 2023 TD Ready Challenge grant must put the funds to use no later than three years from the award days. For complete details about this year’s challenge, visit: td.com/readychallenge.

The Toronto-Dominion Bank and its subsidiaries is the sixth largest bank in North America by assets and serves more than 27.5 million customers. The bank has locations in Montgomery, Chester and Delaware counties.