Is Your Money Working as Hard as Your Mission?
The charitable sector spends significant energy thinking about how to raise more money, and understandably so. Toronto Foundation’s new discussion paper asks: What would help charities and nonprofits do more with the financial resources they already have?
Drawing on conversations with 100 sector leaders, the paper explores the questions organizations are wrestling with and the tools and support that could help them make financial choices that best serve their mission.
What We Heard: The Stewardship Gap
Over the past year, Toronto Foundation spoke with more than 100 CEOs, executive directors, CFOs, board members and sector leaders to better understand how charities think about financial capital. Those conversations revealed a common challenge: many organizations are being asked to make complex financial decisions without the governance capacity, tools, or support they need.
Six themes emerged, revealing that financial stewardship is about much more than investment choices. It’s also about board readiness, leadership alignment, organizational capacity, competing priorities and the expectations that shape how charities think about risk.
Why This Conversation, Why Now
Charities are being asked to do more in an increasingly difficult environment. The cost of delivering services has risen, economic inequality is deepening needs in communities, fundraising is becoming more challenging for many organizations and charitable giving is increasingly concentrated. At the same time, organizations are navigating economic uncertainty and changing government priorities.
In that environment, every financial resource matters.
This paper is designed to help sector leaders:
- See your financial resources through a new lens;
- Strengthen conversations with your board and leadership team about cash, reserves, risk and long-term planning;
- Ask whether yesterday’s financial choices still make sense today, and what other options could better support your mission.
What's Next?
1
Share
Share this paper with your leadership team and board.
2
Use the Toolkit
Use the accompanying Financial Stewardship Check-Up Toolkit to assess your organization and start meaningful conversations about financial stewardship.
3
Join us
Participate in the inaugural Stronger Charities Summit, a one-day event to help charitable and nonprofit leaders strengthen financial resilience by exploring the ideas in the discussion paper. December 2, 2026 in Toronto. Express interest in joining below.
Interested in learning more?
Connect with Aneil Gokhale – Lead, Philanthropic Advisory Services
agokhale@torontofoundation.ca
416.921.2035 ext. 212