In August of this year, annual inflation reached 7 per cent. Rising costs have placed an enormous strain on the resources of non-profits. With household budgets strained, economic hardship has led to higher demand for programs and services while at the same time making the delivery of these programs more expensive.
Philanthropic foundations can play a role in supporting those working to address these pressing issues. In light of this, McConnell will be providing current partners with a one-time top-up payment. We are working to ensure an equitable distribution of funds, as not all organizations face the same financial pressures, depending on their geographical location, and the types of programs being offered. Partners will be contacted with further information. No additional application will be required to receive the top-up.
As the hardships organizations are facing increase, we hope to see continued dialogue and engagement across the philanthropic sector on the impact of inflation and rising prices.
McConnell deeply appreciates the work of charities and non-profits and the programs they provide every day and we thank the staff and volunteers who make this possible.