TD Awards $2.8 Million to 6 U.S. Organizations Addressing the Impacts of COVID-19 on Vulnerable Communities

Rhea-AI Summary

TD has awarded a total of $2.8 million in grants through its 2020 TD Ready Challenge to six U.S. organizations addressing COVID-19 impacts on vulnerable communities. This initiative reflects TD's commitment to social equity, focusing on solutions that promote recovery in areas disproportionately affected by the pandemic. Over 1,300 applications were submitted, with awards ranging from $269,500 to $770,000. The funding is part of a broader $20 million effort to bolster community resilience.

Positive

• TD awarded $2.8 million in grants to six organizations, enhancing community support.
• The initiative aligns with TD's commitment to social equity and community resilience.
• Over 1,300 applications demonstrate strong engagement and competition for funding.
• The grants support organizations aiming for sustainable recovery in vulnerable communities.

Negative

• None.

CHERRY HILL, N.J., Jan. 26, 2021 /PRNewswire/ -- TD today announced that six U.S. recipients will receive  2020 TD Ready Challenge grant awards totaling $2.8 million*  to address the widespread impacts of the COVID-19 pandemic. The recipients are located across TD Bank's Maine-to-Florida footprint. 

"The COVID-19 pandemic created a healthcare crisis that exposed social, economic and racial inequities, and we know it continues to disproportionately impact vulnerable populations across the U.S.," said Greg Braca, President and CEO, TD Bank. "This year, we focused the TD Ready Challenge competition on organizations that provide innovative solutions to the communities where we live and work."

The 2020 TD Ready Challenge sought organizations that are developing innovative solutions for addressing inequities exacerbated by the pandemic in communities that were disproportionately impacted by COVID-19. 

Organizations were asked to demonstrate how their solutions will drive faster, sustained and equitable recovery through one or more of the four interconnected drivers of change of the TD Ready Commitment, TD's corporate citizenship platform, aimed at opening doors to a more inclusive and sustainable tomorrow. 

TD established the TD Ready Challenge in 2018 to identify and support scalable solutions to a specific issue identified within the drivers of the TD Ready Commitment: Financial Security, Vibrant Planet, Connected Communities and Better Health. This year it is part of the roughly $20 million that TD has allocated to help strengthen community resilience and COVID-19 recovery through the TD Community Resilience Initiative

"It's clear that generating new ideas and solutions is key to helping all of our communities emerge resilient, inclusive, vibrant and ready for the continually changing future," said Shelley Sylva, Head of U.S. Social Impact, TD Bank. "I can't wait to see the lives changed and opportunities created through the efforts of these winning organizations."

Over 1,300 applications were received this year and evaluated through a comprehensive review process that culminated in a final judging contest comprised of a panel of 18 bank and subject matter experts. A total of 15 North American recipients received awards ranging from $269,500-$770,000.

The U.S. recipients of the 2020 TD Ready Challenge are:

Urban League of Broward County, Inc., LYNX: Service Integration Model for Family Resiliency -Broward County, Florida – Awarded $770,000
This integrated service and coaching model presents a path towards social and economic resilience for families in underserved communities. LYNX leverages program services, artificial intelligence, data science and strategic partnerships to reduce bias and influence policies that impact low-to-moderate income households.

Per Scholas, Inc., Per Scholas Alumni Upskilling Initiative - Baltimore, MD; Boston, MA; Newark, NJ; New York City, NY; Philadelphia, PA and Washington, DC – Awarded $577,500 
Through this initiative, the organization will provide enhanced, tuition-free tech training opportunities and career development services for alumni negatively impacted by the COVID-19 crisis, with a focus on with upskilling, reskilling, and professional development opportunities to advance in successful tech careers.

Philadelphia Association of Community Development Corporations, Save Your Biz Philly Program - Philadelphia, PA – Awarded $577,500 
This program aims to help minority small businesses owners and small businesses on commercial corridors serving minority populations that have debts due to the COVID-19 crisis save their businesses and retain or re-hire employees through outreach, technical assistance, financial counseling, pro-bono legal counsel, and a Court-mandated process of negotiation with debt holders that can lead to manageable re-payment agreements. 

Clinica Esperanza Hope Clinic, Responding to the COVID-19 health and economic crisis in a low-income, Spanish-speaking area of Providence, RI – Awarded $316,000 
This program plans to Expand the free clinic services and address the unmet healthcare needs of newly unemployed and uninsured patients needing care as a result of COVID-19.

Port Discovery Children's Museum – Supporting Baltimore's Children: A COVID-19 Response Project Baltimore, MD – Awarded $269,500 
In response to disruptions caused by the COVID-19 pandemic, this project aims to harness the power of playful learning to support children. To increase access to learning, the Museum will create and deliver virtual educational enrichment for students in under-resourced schools and neighborhoods, launch new programming that helps bridge the digital divide among early learners, and reopen the Museum safely for families in the Baltimore community. Programs will focus on STEAM (science, technology, engineering, arts, and math), the arts, healthy living, and early literacy.

Penquis, the Rural Maine Financial Coaching Collaborative, Eastern, Central, Mid-Coast, and DownEast Maine, including three Native American Reservations, Penobscot and Passamaquoddy Tribes – Awarded $269,500
This collaboration will provide financial coaching through 10+ social services agencies and support over 30+ case managers in helping hundreds of low-income clients to weather financial difficulties, prioritize bills and budgeting, and to develop and negotiate payment plans, in addition to supporting case managers in understanding the basics of the foreclosure and rental eviction processes to help keep clients in their homes or find reasonable alternatives.

The TD Ready Challenge is part of TD's efforts to help build more resilient societies. For more information about the 2020 TD Ready Challenge and winners, visit http://www.td.com/readychallenge. For additional information about the TD Ready Commitment, please visit td.com/tdreadycommitment.

About the 2020 TD Ready Challenge Problem Statement
The 2020 TD Ready Challenge will help support innovative solutions that address the impacts of the pandemic, specifically for communities that are experiencing disproportionate impacts of COVID-19. We are seeking applications that will help drive accelerated, sustained and equitable recovery. Applications must work to explicitly address inequities exacerbated by the pandemic, as well as one or more of the four interconnected drivers of change of the TD Ready Commitment. For more information visit: td.com/readychallenge.

About the TD Ready Commitment
TD has a long-standing commitment to enriching the lives of its customers, colleagues and communities. As part of its corporate citizenship platform, the TD Ready Commitment, TD is targeting CDN $1 billion (U.S. $775 million) in total by 2030 towards community giving in four areas critical to opening doors for a more inclusive and sustainable tomorrow – Financial Security, Vibrant Planet, Connected Communities and Better Health. Through the TD Ready Commitment, TD aspires to link its business, philanthropy and human capital to help people feel more confident - not just about their finances, but also in their ability to achieve their personal goals in a changing world. For further information, visit td.com/tdreadycommitment.

About TD Bank, America's Most Convenient Bank^®

TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 9.5 million customers with a full range of retail, small business and commercial banking products and services at more than 1,220 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth^®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com/us.

*All grants are awarded in CAD, the US awards listed here represent the approximate amount in US dollars.

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SOURCE TD Bank

FAQ

What is the amount awarded by TD in the 2020 TD Ready Challenge?

TD awarded a total of $2.8 million in the 2020 TD Ready Challenge.

How many organizations received TD grants for COVID-19 recovery?

Six organizations received grants from TD to address COVID-19 impacts.

What is the focus of the TD Ready Challenge?

The TD Ready Challenge focuses on solutions for communities disproportionately affected by COVID-19.

What was the range of grant awards given by TD?

Grant awards ranged from $269,500 to $770,000.

How many applications were submitted for the TD Ready Challenge?

Over 1,300 applications were submitted for the TD Ready Challenge.