B.C. has announced a new $34 million fund to support non-profit organizations that have been negatively impacted by COVID-19.
The province committed $30 million in the 2022 budget to support the non-profit sector. The Vancouver Foundation later added $4 million to the fund. The New Relationship Trust, an Indigenous-led funding body, will administer at least $5 million to support the recovery and resilience of Indigenous communities — details on how the fund will be administered are still being finalized.
At a news conference on Thursday (March 24), Parliamentary Secretary for Community Development and Non-Profits, Niki Sharma, announced the fund would support organizations ‘disproportionately’ impacted by COVID-19. Sharma said the fund would cover funding gaps not served by other funding streams or grants.
A 2021 Vantage Point survey found that 48 per cent of non-profits have experienced reduced revenues, higher operating costs and higher demand for services during the pandemic, all while dealing with a shortage of volunteers so they could operate with COVID-19 safety protocols.
Funds will be administered by the Vancouver Foundation and United Way British Columbia. The fund is expected to launch in June 2022.
The non-profit sector contributes $6.7 billion to the provincial economy and employs more than 86,000 British Columbians at approximately 29,000 non-profit organizations throughout the province.