TORONTO, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Today, Imagine Canada proudly launches the PRISM Community Impact Company Network, a new initiative elevating corporate-community partnerships in Canada. An enhancement of Imagine Canada’s role fostering corporate philanthropy and bridging the nonprofit and business sectors, PRISM elevates the renowned Imagine Canada Caring Company Certification with new resources and thought leadership. Designed for Canada's medium and large enterprises, the Network is open to any company regardless of whether they achieve Certification, offering unparalleled support at all stages of designing and maximizing their community impact strategies.
The PRISM Network builds off the success of the Imagine Canada Caring Company Corporate Certification program, founded in 1988, which awards certification to companies that donate at least 1 per cent of pre-tax profits to communities. The importance for business of demonstrating a deep connection to communities remains as strong as ever. A new Imagine Canada survey conducted by Abacus with the support of BMO shows 74 per cent of Canadians say they feel better about supporting a business when they see they have a corporate social responsibility certification. Importantly, 73 per cent also agree that they are more likely to trust businesses that have one.
With evolving expectations from investors, consumers, and employees, and shifts in corporate donating and volunteering behaviors, PRISM provides companies with best practices and third party accountability. It is designed to help businesses not only meet high standards but also celebrates leadership and improves the outcomes of community partnerships. The Network’s strategic insights, educational resources, and partnership solutions help amplify the impact of corporate community investment efforts, and ensure that support given to nonprofits is reliable, flexible, and flows equitably to communities across Canada.
“It’s not just about pledging to give back 1 per cent anymore. Companies want to show accountability, maximize the impact of their contributions, and develop stronger relationships with their community partners,” says Bruce MacDonald, President and CEO of Imagine Canada. “By joining PRISM, companies enter a network that is shaping the future of Canadian business and advancing thoughtful, strategic, and authentic connections between corporations, nonprofits, and their communities.”
Imagine Canada President and CEO Bruce MacDonald unveiled the details of this innovative program to members of the business and nonprofit community today in Toronto, at a launch event with remarks from industry leaders including Candace Laing, President and CEO of the Canadian Chamber of Commerce and others.
“Businesses of all sizes and types thrive when they invest in the communities where they operate,” says Candace Laing, President and CEO of the Canadian Chamber of Commerce. “And I have continually seen what the business and nonprofit sectors can accomplish together to drive social and economic progress. More than ever, we need this collaboration to solve some of the biggest economic challenges being faced at the community level all across Canada.”
To develop PRISM and its resources, Imagine Canada worked collaboratively with volunteers and partners from the nonprofit and corporate sectors, and conducted a pilot initiative with 12 early adopters: Alectra Inc., Canada Life, Co-operators, Ecclesiastical Insurance, First West Credit Union, GreenShield, Innovation Federal Credit Union, Medavie, Proof Strategies, Prospera Credit Union, Starbucks, and Suncor Energy Inc.
About PRISM
PRISM Community Impact Company Network helps leading Canadian companies further their community impact by providing resources and third-party validation of corporate support. By setting benchmarks and sharing best practices, we aim to strengthen business-nonprofit partnerships, catalyze Canadian philanthropy and volunteerism, and ensure resources flow more equitably to nonprofit organizations and communities.
Since 1988, Imagine Canada has awarded certification to companies that donate at least 1 per cent of pre-tax profits to the communities where their employees live and work. Beyond certification, we offer custom assessments, specialized learning, and partnership support to help companies enhance and communicate their social impact and community investment strategies.
Learn more at imaginecanada.ca/prism and join the movement.
About Imagine Canada
A national, bilingual charitable organization, Imagine Canada is a trusted cross-sector convener, able to bring together business, government and nonprofits to advance change. Through our advocacy efforts, research and social enterprises, we help strengthen charities, nonprofits and social entrepreneurs so they can better fulfill their missions. Our vision is of a strong Canada where charities work together alongside business and government to build resilient and vibrant communities.
For more information:
Émilie Pontbriand
Senior Manager, Strategic Communications
Imagine Canada
epontbriand@imaginecanada.ca
