Funding

Funding

The funding situation at Train for Trades is somewhat complicated because of a large investment from Hibernia Development Management Company (HDMC), which has influenced how Train for Trades operates and has enabled its transition to a social enterprise. This $2.1 million investment provides a cushion and allows the agency to draw down on the money during transition. T4T and Choices for Youth recognize that this kind of investment is quite rare. The agency recommends therefore that the most useful comparison is to compare pre and post Hibernia investment.

Five years ago (fiscal year 2011-12), Train for Trades operated with 10 youth and an annual budget of $605,821. The program was funded through:

  • The Provincial Department of Advanced Education and Skills (called Human Resources, Labour and Employment) – 66%
  • Contracts with Newfoundland and Labrador Housing Corporation – 26%
  • Other sources - 8%

Expenditures included:

  • Staff salaries (Coordinator, Administrative Assistance, Youth Supports Coordinator and Youth Support Workers) – 54%
  • Youth salaries – 31%
  • Program operations (fixed costs such as training, materials, travel, IT, etc.) – 7%
  • Administrative overhead (administrative fees and office rent) – 8%

The new budget model is examined in the Changes to T4T for 2015-2016 section. 

Table of Contents

Supporting Documents

The Canadian Observatory on Homelessness acknowledges with thanks the financial support of The Home Depot Canada Foundation. Thanks to the staff, partners and service users (past and present) of Choices for Youth and Train for Trades who assisted in the development of the toolkit by taking part in interviews, providing data and resources or reviewing information.

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