Toronto-based Prosper Canada on Tuesday announced a $500,000 personal donation from an anonymous supporter.
The gift will help the national charity to achieve its goal of expanding financial empowerment supports across Canada to help 1 million Canadians living in poverty to improve their financial health by 2020, Prosper Canada says in a statement.
“This unrestricted donation will help Prosper Canada and its partners to roll out local, regional and national financial empowerment initiatives that will enable thousands of Canadians living in poverty to measurably improve their financial capability and health,” says Elizabeth Mulholland, CEO of Prosper Canada, in a statement.
The charity is currently focusing on sustainable scaling of the following financial empowerment interventions: financial information and education; financial coaching; boosting income through tax filing and help accessing benefits; facilitating access to basic banking; and assisting families to open RDSPs and RESPs.
These approaches have been shown to enable people with low incomes to tangibly improve their incomes, credit scores, saving and debt levels and to build wealth through greater access to education, employment, entrepreneurship, and savings and asset building opportunities, Prosper Canada says.