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:
“Opening the door of charity can create problems.”
—Chinese proverb.
“As poverty has been reduced in terms of mere survival, it has become more profound in terms of our way of life.”
—Raoul Vaneigem (b. 1934)
“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.)