EligibilityCriteria

/ Eligibility

Applicants Must Meet The Following Criteria:

Organization Criteria

Venture Criteria

Legal Requirements & Exclusions

/ Organizational Criteria

● Must provide proof that the applicant organization is one of the following types of organizations:
○ a Registered Charity (with CRA charitable registration number) operating within the City of Toronto, or
○ a Non-Profit, or
○ Social Enterprise (non-profit, for-profit or co-operative). A "Social Enterprise" is defined as “an organization that uses business strategies to maximize its social or environmental impact”. (See the Ontario government’s information document on the definition of a social enterprise HERE.
● Must be an established organization and have been in operation for at least one year (and not at the idea phase or a start up whether generating revenue or not).
● Must be in good financial standing
● Must have $1,000,000 or less in annual income per year confirmed by the most recent financial statements
● The organization must have a demonstrated track record of partnering with a range of stakeholders (including the community, other charities/community groups, government, funders, etc.)
● The organization must show stable governance
● The organization must be of the scale and size that the organization will benefit from the awards/prizes being offered but not too large that the prize would not be transformative.

/ Venture Criteria

The Soshent application form defines a “Venture” as either: (i) the organization: or (ii) a specific project, program, product or service of the organization. However, for the purpose of Philanthropitch, you must describe and propose a particular program, product or service for which you are seeking funds and not for the organization as a whole. Accordingly, the program, product or service you are proposing must meet the following requirements:
● The Venture must be located in the Greater Toronto Area (GTA) and providing services in the GTA
● Must operate with a financially sustainable business model for the specific Venture being proposed regardless of the corporate form
● The organization must show that they have methods to track/evaluate outcomes and impact of the Venture and be prepared to show progress of the Venture in the event they win an award/prize
● The Venture must have a clearly articulated mission statement and value proposition that addresses one or more Toronto Vital Signs while being transformative and innovative. This can be a part of the Organization’s mission statement. Your proposed Venture must also show the following:
○ Transformative: The organization must be committed and ready to grow or deepen programs and services such that they are transformative and provide a catalyst for change and be an opportunity for improvement in the organization’s capacity.
○ Innovation & Differentiation: The organization must show how deepening a particular program will be innovative and differentiate them from other programs.
○ Social Impact: Ensure that your Soshent Application addresses one or more of Toronto Foundation’s issue areas contained in Toronto's Vital Signs® Report. Please describe how you would use potential capital to expand and/or deepen a new or existing program affecting one or more of these issue areas.

/ Exclusions

● Existing general operating expenses (unrelated to the project)
● Deficit reduction ● Bursaries, scholarships, sponsorships or individual requests
● Fundraising campaigns
● Substantial capital and infrastructure costs (e.g. building, major renovations)
● Capital costs not directly related to the learning opportunities being provided.
● Software development ● Prizes ● Legal Fees (and other professional services fees)
● Events or activities that take place before the application deadline ● Events or activities that take place outside of the Greater Toronto Area
● Colleges, universities and municipalities

/ Legal Requirements

The 10-15 finalists that are selected to move forward and participate in the Pitch Mentoring Session on May 23rd from 10 to 3 pm will be required to:
(i) sign an agreement and swear an Affidavit with Philanthropitch prior to or at the Pitch Mentoring event confirming that they meet all of Philanthropitch’s and its partners funding and eligibility requirements and shall comply with all conditions for funding before any prizing can be awarded;
(ii) provide a written plan of their growth strategy to track their progress and show how they are using the funds. They may be required to meet with a Philanthropitch investment committee over the course of one year from the date of the Pitch competition and awarding of prize. Prizing will be distributed on a payment schedule based on mutually agreed milestones between the Philanthropitch investment committee and the applicant.