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Black Opportunity Fund’s 2023-24 Annual Report Video

We’re excited to share highlights with you of the impactful work BOF achieved in 2023-2024, working to improve socio-economic outcomes for Black communities across Canada. Discover how we’ve been making a difference, empowering communities, and driving positive change. Watch now to see the impact of our work and join us in our mission to improve opportunities for Black Canadians.

Highlights include:

  • Over $3.7 million allocated to support Black entrepreneurs and Black led, serving, and focused not-for-profits and charities (B3s) across Canada.
  • $1 million used as collateral for loans for Black entrepreneurs declined loans by traditional banks.
  • 1,448 Black businesses benefited from BOF supported capacity building programs
  • $1,090,000 in grants given to Black community organizations leading impactful initiatives in Education, Health, Criminal Justice and Arts & Culture.
  • $220,000 donated to Sick Kids Hospital to fund 2 important initiatives to improve outcomes for children being treated for Sickle Cell Disease.
  • 244 Black entrepreneurs received non-repayable funding and subsidies to acquire permits, certifications and licenses, while enrolled in BOF supported capacity building programs.
  • Launched a grant & capacity building program for Black led community organizations  in partnership with Black Canadian Fundraisers Collective.
  • Led national convenings to support policy initiatives around improving outcomes for Black people in Canada in the critical areas of Health, and Justice.
  • Set up the structure to launch two $50 million investment funds – one aimed at creating home ownership opportunities for Black Canadians, and the other to invest in Black led businesses.

#BlackOpportunityFund #AnnualReport #WeBackBlack #Empowerment #Community

Capitalism, Diversity & Inclusion Series: Black on Bay

On September 4th, 2024, the Black Opportunity Fund in partnership with The Albany Club presents a compelling panel discussion as part of our Capitalism, Diversity & Inclusion Series: Black on Bay. This session will focus on “Celebrating Success and Overcoming Challenges,” featuring influential Black leaders from Bay Street who will share insights into their professional journeys.

Despite notable strides in diversity and inclusion initiatives, Black representation in executive roles remains scarce, and many Black professionals still experience cultural isolation and subtle forms of racism in their careers. The event presents an opportunity to hear from a passionate group of Black Bay Street leaders as they share their career journeys, the obstacles they’ve overcome, and the ongoing challenges that remain in the financial services sector.

Panelists Include:

  • Konata T. Lake, Partner, Torys
  • Kurankye Sekyi-Otu, Founder & CEO, Capoeira Partners
  • Stanley Julien, Head, Special Accounts Management Unit – Canada, BMO
  • Lori-Ann Beausoleil, CEO, Board Diversity Network, Retired PricewaterhouseCoopers Partner

The session is moderated by Colin Lynch, Managing Director & Head of Alternative Investments, TD Asset Management.

The panel discussion is followed by a networking reception and lunch. We thank CIBC for sponsoring the event.

For registration RSVP: reservations@albanyclub.ca or 416-364-5471 

Event Details:

Date: September 4th, 2024
Time: Reception at 11:45 am, Lunch at 12:15 pm
Price: Members: $49 | Guests: $69 (plus taxes and house charge)

We look forward to seeing you!

#BlackOnBay #BlackLeaders #Event #BlackOpportunityFund

CAREERS AT BOF: PROJECT MANAGER – CONTRACT POSITION

Black Opportunity Fund (BOF) is seeking an energetic and motivated leader with a collaborative style who empowers and motivates others, to fill the newly created 3 year contract position of Project Manager.

Black Opportunity Fund aims to dismantle the impacts of systemic anti-Black racism in Canada by building a sustainable pool of capital to support Canada’s Black communities. This is achieved by allocating resources to Black-led community organizations leading initiatives that impact the quality of life in the Black community and facilitating access to capital for Black-led businesses to drive economic empowerment throughout the community.

REPORTS TO: BOF Manager of Programs

JOB SUMMARY:

Reporting to the BOF Manager of Programs, this position will be responsible for the day to day management of two (2) multi-faceted programs aimed at supporting the growth and development of Black Canadian entrepreneurs. This critical role will oversee the creation maintenance and monitoring of project plans, project schedules, budgets, and expenditures; as well as monitoring and reporting on performance metrics. The ideal candidate possesses a strong background in managing complex projects as well as an understanding of entrepreneurship.

ROLES AND RESPONSIBILITIES:

Working in a dynamic, team-based environment, the Project Manager’s primary responsibilities will involve overseeing the development, launch and evaluation of two (2) multi-faceted programs aimed at providing capacity building to Black Canadian entrepreneurs. The position will be responsible for:

  • Determine and define project scope and objectives
  • Predict resources needed to reach objectives and manage resources in an effective and efficient manner
  • Prepare project budgets based on scope of work and resource requirements
  • Track project costs and expenditures in order to meet budget
  • Develop and manage a detailed project schedule and work plan
  • Provide project updates on a consistent basis to various stakeholders about strategy, adjustments, and progress
  • Manage contracts with vendors and suppliers by assigning tasks and communicating expected deliverables
  • Utilize industry best practices, techniques, and standards throughout entire project execution
  • Manage and monitor project progress by: tracking activity, tracking deadlines, resolving problems, publishing progress reports, and making adjustments as needed;
  • Managing client deliverables as they relate to funding agreements
  • Organization of, and participation in stakeholder meetings;
  • Preparing presentation materials for meetings;
  • Maintaining comprehensive project documentation in line with service level agreements;
  • Communicate regularly with relevant stakeholders, staff, clients, and committees to provide status updates and a high level of customer service around short and long term project goals and deliverables.
  • Performing other duties as required.

 

Qualifications

  • Bachelor’s degree in computer science, business, or a related field
  • 5-8 years of project management and related experience
  • Project Management Professional (PMP) certification preferred
  • Strong familiarity with project management software tools, methodologies, and best practices
  • Experience seeing projects through the full life cycle
  • Proven ability to complete projects according to outlined scope, budget, and timeline
  • Proficiency with accounting software, spreadsheets and data management systems required;
  • Ability to juggle multiple tasks and priorities, in a fast paced, diverse environment;
  • Experience in data management and administration with a relational database system;
  • Strong logic, analytical and problem-solving abilities.
  • Solid planning and organizational skills with high attention to detail, accuracy, protocol and deadlines.
  • Experience building and managing program budgets.
  • Excellent writing ability that is clear, concise and analytic in style.
  • Exceptional presentation and facilitation skills,
  • High level of discretion in maintaining confidentiality of sensitive materials and issues.
  • Language proficiency in both English and French preferred

 

PERSONAL SKILLS

  • High level of ethics and integrity
  • Driven by a passion to support and grow community
  • A collaborative team player
  • Deep understanding of historic systemic barriers to opportunities faced by Black and other racialized Canadians
  • Excellent organizational and leadership skills
  • Creative thinker and acts as an enabler to find innovative solutions
  • Outstanding communication and interpersonal abilities
  • Demonstrate reliability, autonomy, and a strong capacity for initiative and independent judgement in a complex organization environment
  • Well-developed emotional intelligence and political acuity
  • Deep understanding of historic systemic barriers to opportunities faced by Black and racialized Canadians.

Salary: $80,000 per annum  plus participation in BOF extended benefits program.

Employee Benefits include:

  • Extended health benefits – medical, dental, vision, mental health support, physio, massage, other specialist services;
  • Company Supplied Equipment (for remote work) – laptop, phone;
  • Non-traditional time off benefits – office closed between Christmas & New Year’s, closed Fridays in the summer months;
  • Hybrid work arrangements;
  • Opportunity to work for an organization whose mandate involves significant social impact.

Black Opportunity Fund is committed to fostering a collegial work culture grounded in diversity and inclusiveness. We strive to build a team that reflects the diversity of the communities we work in and serve.

To apply, please send your resume and cover letter to info@blackopportunityfund.org

DoorDash #BlackFoodEnergy Restaurant Grant

Black Opportunity Fund is announcing a new funding opportunity to support Black-owned and Black-led restaurants with a company that shares our mission.

Black Opportunity Fund needs your help! We’re seeking Volunteer Selection Committee members to review and adjudicate applications for the program. Committee members will review submitted applications and make funding recommendations based on specific criteria and an established assessment process.

To express interest in volunteering as an adjudicator, please complete the Program Adjudication Nomination Form. You will be required to upload your resume and we would like it to indicate:

  • Why you’re interested in volunteering for this position
  • Experience working in the restaurant and/or foodservice industry
  • Language(s) spoken
  • The region of Canada in which you currently reside
  • Previous experience reviewing or adjudicating grant applications

Program Adjudication Nomination Form Link: https://www.surveymonkey.com/r/NQJ59FB

Black Opportunity Fund encourages applications from every region across Canada. If you have any questions about becoming a volunteer adjudicator for this program, please send us an email at BOFVolunteers@blackopportunityfund.org. We look forward to hearing from all of you! #BOF #WeBackBlack

BOF Recommendations on Canada’s Black Justice Strategy

As we approach the summer months, reams of data show that we can anticipate an increase in interactions between law enforcement and Black and Racialized communities. We can also anticipate an increase in retail profiling of Black Canadians, and in random stops predicated on racial profiling. We are hopeful that within the backdrop of this phenomenon, we will shortly see the release of Canada’s groundbreaking Black Justice Strategy. This is a generational opportunity by Government to develop a consistent framework to guide policy and practices to help dismantle systemic anti-Black racism in Canada’s Justice System.

Extensive national community consultations took place led by grassroots Canadian community organizations to inform the work of the Steering Committee. Black Opportunity Fund is proud to be a funder of the work of several of these organization. The Steering Committee, led by Professor Akwasi Owusu-Bempah, was tasked with developing the framework for the Black Justice Strategy.

Black Opportunity Fund’s National Justice Working Group consulted with and provided its recommendations to the Department of Justice and the Steering Committee. BOF’s National Justice Working Group, a coalition of grassroots organizations, scholars, Elders, cultural keepers, policy specialists, youth, and members of Black communities across Canada, working in various ways in myriad disciplines, to address systemic and structural inequities in the justice system.

We have seen previous consultations, on addressing the significant disparities in involvement with and outcomes for Black and Indigenous Canadians, which have fallen short, resulting in superficial recommendations focused primarily on symptoms, including recommendations for more policing, and police training. While there is certainly a need for more and better training of law enforcement, the strategy needs to be more about upstream solutions focused on  reparatory and restorative justice for Black Communities. So we are very hopeful to see meaningful actions and strategies in the recommendations, as a result of the extensive listening exercises, and the leadership of the Steering Committee.

BOFs recommendations for Restorative and Reparatory justice for Black people in Canada, were framed around the following key urgent issues: 

A. Black people, especially Black youth, have received harsher penalties for cannabis-related offences; 

B. Culturally safe and responsive rehabilitation support for incarcerated persons, including culturally responsive and robust therapeutic and mental health supports, are few or non-existent; 

C. There is a dearth of community-responsive alternatives to parole and incarceration;  

D. Initiatives to ensure that the administrators of the criminal justice system (ie. prosecutors, parole board members, judges, etc.) better reflect Black communities, are in short supply; 

E. There is no funding to develop and implement aggressive and culturally safe social reintegration programmes for Black Canadians who are released from incarceration;

F. There is a need for coordination with other relevant departments in order to ensure a multi-faceted, comprehensive policy approach toward the development of a Black Justice strategy. 

G. Include mandatory Impact of Race and Culture Assessment Reports as part of pre-sentencing hearings for Black people found guilty of committing crimes; 

H. A Reparatory Justice Plan, with the goal of providing recompense to Black people for harm caused due to well-documented systemic and structural injustices within the criminal justice system. Recompense can be in the form of financial contributions, and therapeutic healing from historical trauma, needs to be incorporated into policy decisions;   

I. There is a lack of data collection standards to guide the gathering of race-based data in federal institutions which would enable effective measurement of outcomes.

Read the recommendations from the Black Opportunity Fund National Justice Working Group, to the Federal Government’s Black Justice Strategy, Click here to read BOF recommendations on Black Justice Strategy

 

TD’s Historic Partnership with Black Opportunity Fund

In 2021 as part of its broader efforts to dismantle barriers to equity, TD made a historic commitment to Black Opportunity Fund (BOF). TD invested $10 million dollars to catalyze BOFs vision of a society where longstanding barriers to opportunity for Black Canadians have been removed.

This commitment by TD is the largest donation by any Canadian corporation to a Black-led community organization.

But it’s not just about the money…

TD entrusted the Black Opportunity Fund with the power to decide how and where those funds would be deployed, to improve socio-economic outcomes for Black communities across Canada.

TD invested in the infrastructure of BOF, including staffing, to ensure it had a solid platform to carry out its mandate.

But there’s more…

TD has provided office space, expertise and seconded staff to Black Opportunity Fund.

And it’s a two way street. TD has relied on and welcomed the guidance and input of BOF as it continues to strive in its ongoing efforts to embed equity and to dismantle systemic racism through its own banking practices and throughout its organization. TD staff who take on secondment assignments with BOF, return to the organization with important new knowledge and perspectives which benefit TD as a whole.

Through the partnership with TD, BOF has achieved significant impact in improving socio-economic outcomes for Black Canadians, including…

Launching an inclusive micro-lending program for Black businesses who have been declined lending by Canadian banks.

Providing millions of dollars in grants and capacity building support to Black entrepreneurs as well as Black led, Black serving  community organizations.

Hosting important national convenings in key BOF mandate areas including  Health, Education & Youth, Justice, Arts & Culture, and Entrepreneurship.

Acting as a catalyst for important advocacy on issues impacting the health well being and prosperity of Black Canadians.

And so much more.

Thank you TD.

We look forward to continuing to grow and nurture this important and historic partnership.