SEF was delighted to celebrate an early Christmas present this year, with the recent announcement from Toronto of a national award for the Edmonton Community Foundation.
ECF was recognized for Excellence in Mission Investingfor its role in the creation an ongoing commitment to the work of the Social Enterprise Fund. The award was part of the second annual Social Finance Awards presented by the MaRS Centre for Impact Investing and SocialFinance.ca
The Social Enterprise Fund was created in 2008 through a unique partnership of the City of Edmonton and the Edmonton Community Foundation. Other organizations such as the United Way and the Alberta Real Estate Foundation have invested over time in the pool which now supports social enterprises and social entrepreneurs right across Alberta.
The Edmonton Community Foundation went a step further in its commitment to mission investing when it became first amongst Canadian community foundations to formally meet the challenge set by the Canadian Task Force on Social Finance to commit at least ten percent of its capital to mission-related investments by 2020.
To date, SEF has invested over $9 million in more than 22 projects in sectors ranging from food security, social housing, culture and the environment. More than $2.5 million has already been paid back, and is ready to do more good in the community as new loans.