Be funding-ready: What’s available and how to get it

Last month, 56 ONPHA members attended the Financing our Future course in downtown Toronto to learn how to get “funding-ready.”

Members of the non-profit housing sector have likely been hearing this term – “funding-ready” – pop up quite often lately. As operating agreements move closer and closer to their expiry dates, it is crucial for housing providers to have a strong sense of what being “funding-ready” means and how they can get there.

Financing our Future broke down the core components of ‘funding-readiness’ with a two-day interactive training session. Members took advantage of the time to work through the many financial challenges and opportunities facing our sector. Session leader Darlene Cook, General Manager and CEO of Peterborough Housing Corporation (PHC), drew energy from housing leaders from communities throughout Ontario to talk about the broad contexts of housing. Participants commented that they appreciated the honesty and openness both Darlene and the group brought to the session.

“Darlene brought great enthusiasm, passion and knowledge to the two day seminar.”- Financing our Future participant

The way forward requires a change in perspective around what funding is available and how it can be accessed. This will mean applying to funders that are not traditional housing funders, as well as developing creative fundraising strategies. A few of the core messages that surfaced during the session were:

• Rethinking asset management practices
• Leveraging assets for development
• Energy efficiency and lifecycle costing
• Finding new revenue streams including foundations and financial institutions

Did you miss the session? Not to worry. ONPHA is offering a condensed, one-day session in Niagara Falls  on November 2 (Education Day).