An innovative new funding project called Social Investment Partners Sudbury (SIPS) was announced Nov. 14 by the Sudbury Community Foundation in partnership with the Bank of Montreal, Canadian Imperial Bank of Commerce, the Royal Bank of Canada and Scotiabank.
The SIPS partnership will provide one local charity with in-depth guidance, support, and capital over a two-year period in order to help build its capacity and sustainability. Each SIPS partner will invest $5,000 with the selected charity as the capital portion of the initiative. The project will be selected in late 2007 and begin in 2008.
"I am greatly impressed by the four banks who have stepped forward to form SIPS," commented Jo-Anne Palkovits, SCF president.
"They have seen the potential in this innovative community project and are willing to bring their institution's money and talent to the table."
Foundation executive director Carmen Simmons noted that "SIPS gives our local charities a hand up rather than a hand-out. What a great opportunity for a local charity to access funds, skills, and guidance from among the best business people in our community."
SIPS is a compelling opportunity for local charities to receive financial and organizational capacity building help from local businesses willing to share their organizational expertise and sound financial judgment.
SIPS strategies combine financial capital "investments" with some form of additional capacity building, volunteer support, or technical assistance. Each participating financial institutions and the Sudbury Community Foundation will invest $5,000 over two years with the selected charity and guide the charity through a two-year business plan that will boost its organizational efficiency and capacity.
The Sudbury Community Foundation's portion of the investment comes from the Greater Sudbury Charities Fund, a fund established by city council in 2003 "to enhance the operating capacity of registered charities who deliver programs beneficial to the Sudbury community. Earnings may be distributed to a broad range of registered charities including those serving children and youth, seniors, recreation, the arts, culture, education, health, social services, and the environment."
Depending on the needs of the selected charity, the following capacity-building skills could be provided by partners:
• Financial Management: Accounting procedures and systems, budget development, financial reporting, and audit readiness.
• Fund Development: Fundraising plan development, fundraising software analysis, donor cultivation strategies, campaign planning, and special event planning.
• Information Technology: Technology needs assessment,
technology planning, software and hardware analysis, systems
networking, database development, and website development.
• Marketing and Communications: Communications and marketing
plan development, collateral material design, media training,
marketing campaign development, P/R and media outreach, and
communications department planning.
• Program Design and Evaluation: Outcome-based program planning, development of evaluation framework and tools, data management and data analysis.
• Human Resources: Personnel policy development, Performance management strategies, hiring and recruitment procedures, job description development, staff planning, and succession planning.
• Mission, Vision, Strategy and Planning: Organizational assessment, business plan or strategic plan development, long-range planning, needs assessment, and retreat facilitation.
• Legal Affairs: Insurance review, employment law, real estate negotiation, contract review, and corporate by-laws development.
• Leadership Development: Executive and team coaching, peer mentoring, formal leadership training, and management skills training.
• Board Leadership: Board development planning and training, policies and procedures development, skills assessment, board evaluation, and fund raising training.
For more information about the Sudbury Community Foundation or the SIPS project, visit www.sudburycf.ca .
