A Calgary-based charity is using its venture capital model of giving to promote literacy and help teen girls in trouble.
Social Venture Partners Calgary announced last week it will donate $68,000 – along with volunteer time and other resources – to the Calgary Reads Society and the Hera Society.
Calgary Reads will receive $40,000 and Hera will get $28,000 from the philanthropic group, which was co-founded in Calgary in November 2000 by former EyeWire Inc. president Brad Zumwalt and wife Tanya.
“This is a huge boost for us,” said Lynda Tutty, volunteer board chair with Calgary Reads. “We have limited means of funding, and yet the need for literacy programs aimed at very young children is high. With support from Social Venture Partners Calgary, we’ll be able to expand our program delivery, train more volunteers and give more children the extra help they need to learn to read.”
The not-for-profit agency matches trained volunteer tutors with Grades 1 and 2 students who experience difficulty learning to read.
The Hera Society will use the funds to help support girls age 14 to 17 who are at risk of taking to the streets. Hera uses a school setting to offer therapy to girls and their families. “With this grant . . . we will be able to assist more girls who are in trouble and in crisis which, unfortunately, is far too many in Calgary,” said executive director Rosemary Bonner.
Social Venture Partners Calgary is a new model for Canadian giving that melds philanthropy and volunteerism. Based on a venture capital model, partner members commit money – a minimum of $5,000 over two years – along with their expertise and access to resources. The group seeks to achieve positive social change as their return on investment.
It’s the second wave of funding for the venture partners, which last June donated $80,000 cash and volunteer time to the Calgary Urban Project Society’s One World, Child Development Centre and to Calgary Community Support for Young Parents.
