Charity and Poverty Reduction
The Toronto Dollar varies from most local currencies in that 10% of the funds used when purchasing or redeeming the currency are allocated to benefit community initiatives and groups, particularly those who are on low incomes, unemployed or homeless. As of 2008, the Toronto dollar has helped to raise and donate over $110,000 for local charities, and has given grants to at least 35 different organizations.
The Toronto Dollar also provides an incentive for productivity for welfare recipients: Toronto dollars can be given as gifts to welfare recipients who perform volunteer work for charitable and non-profit organizations, and such gifts do not affect welfare benefits.
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Famous quotes containing the words charity, poverty and/or reduction:
“Knowledge puffeth up, but charity edifieth. And if any man think that he knoweth any thing, he knoweth nothing yet as he ought to know.”
—Bible: New Testament 1 Corinthians 8:1-2.
“Where justice is denied, where poverty is enforced, where ignorance prevails, and where any one class is made to feel that society is in an organized conspiracy to oppress, rob, and degrade them, neither persons nor property will be safe.”
—Frederick Douglass (c. 1817–1895)
“The reduction of nuclear arsenals and the removal of the threat of worldwide nuclear destruction is a measure, in my judgment, of the power and strength of a great nation.”
—Jimmy Carter (James Earl Carter, Jr.)