The Cherry Hill-based TD Charitable Foundation, the giving arm of TD Bank, has increased the amount of money available in its Housing for Everyone grant competition to $4.9 million this year, up from $3.75 million in the previous year, it announced Monday.
The foundation said it will award grants to 32 local housing nonprofits that provide direct relief and support services to keep renters in affordable units in the wake of the COVID-19 pandemic’s devastating effect on the economy.
It said statistics show 30-40 million renters are at risk of losing their homes by year-end, with nearly one-third of renters working in the employment sector hardest-hit by the pandemic — food, entertainment and retail workers.
“Given the urgent need for rent relief, the TD Charitable foundation increased the total monetary amount of grants by 30%, from $3.75 million up to $4.9 million, this year,” Paige Carlson-Heim, director of the foundation, said in a prepared statement. “TD Bank represents one of the few funders working to support affordable housing efforts for families and individuals who rent. We wanted to increase our support, given the extra burden created by the pandemic.”
This is the 15th annual grant competition sponsored by the foundation, and it has awarded $32 million to about 500 affordable housing initiatives since it started in 2005.
“Access to direct relief for renters, coupled with case management so that families have child care, access to social services and connectivity to community resources, will help stabilize renters through an unprecedented time,” Carlson-Heim said.
This year’s competition will support nonprofits that either design or manage a rental relief program or enhance case management support for renters. It is part of TD’s “The Ready Commitment,” which aims to contribute $775 million by 2030 toward community organizations.
To apply for the grant, go to the TD Charitable Foundation’s online application system by clicking here. Applications must be submitted by 4 p.m. Oct. 30, and paper applications are not accepted.
For more information, or eligibility guidelines, click here.
Awards will be announced by March.