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Fact sheet: Funding Exchange

Background

Many voluntary sector organizations have indicated that locating compatible funding agencies and applying for funding can be difficult and time-consuming. At the same time, funding agencies find that effectively matching their funding options with appropriate voluntary organizations can be resource-intensive and inefficient. Currently, no standardized, interactive system exists for funding application and response. To simplify this process, the IM/IT Joint Table proposed creating an on-line service to link funding agencies with voluntary organizations.

Work of the IM/IT Joint Table

The work of the Table included:

  • research into current funding information available on-line; and
  • surveys and research on voluntary sector organization needs.
Expected Benefits of the Recommendation

This Web-based service would be provided through the Voluntary Sector portal and possibly be sustained by subscription fees from voluntary organizations and funding agencies.

Key benefits:

  • use of common technical standards;
  • simplified, harmonized, on-line application and reporting procedures;
  • voluntary organizations will have easier access to relevant funders;
  • funders will have fewer resources tied up in red tape, and a more efficient matching system; and
  • greater technological efficiency will benefit all participants.

An effective funding exchange will significantly increase the cost-effectiveness of the processes associated with funding-both for the voluntary organizations and their governmental, foundation and private sector partners.

For more information, contact the IM/IT Secretariat at (613) 990-7233 or e-mail: imit@ic.gc.ca

 

 

 
 
  
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Last Updated: 2019-05-26