TD Ready Challenge: $10M in grants available to address affordable housing barriers

TD Bank announced its sixth annual Ready Challenge grant competition to combat this housing affordability issue.

In a Wednesday announcement, TD said it is seeking to support eligible nonprofit and charitable organizations focused on finding innovative solutions that address systemic barriers to affordable housing across the continuum from transitional to permanent homes, and to help increase access to affordable and stable housing for those who need it most.

Ten $1 million grants will be awarded to organizations in the U.S. and Canada for innovative solutions that support people disproportionately impacted by the challenges and barriers to accessing affordable housing.

New Jersey applications are open until Sep. 13.

To be considered for a grant, eligible nonprofit 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; and
  • Promoting the supply and renovation of affordable 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, senior vice president of sustainability and corporate citizenship, TD, said. “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.”

This year’s problem statement aligns with TD Pathways to Economic Inclusion, a social framework announced by the bank in March, which focuses on three areas where the bank seeks to contribute to inclusive financial and economic outcomes: employment access, financial access and housing access. Through its business, TD provides financial tools and advice to help people access housing and to remain in their homes and supports organizations that help contribute to the supply of affordable housing.

Through its philanthropy, TD supports organizations that are focused on increasing access to secure housing and related supports for more vulnerable members of their communities, 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 nonprofit 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, stated. “This year’s TD Ready Challenge Grant competition expands our support for these efforts in the communities where we live and work and is a testament to our commitment to supporting the terrific work that nonprofit organizations are doing to increase access to safe and affordable housing.”