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 and, charity, poverty and/or reduction:
“Charity and justice are worth a thousand ounces of gold.”
—Chinese proverb.
“How much methinks, I could despise this man,
But that I am bound in charity against it.”
—William Shakespeare (1564–1616)
“He who is not capable of enduring poverty is not capable of being free.”
—Victor Hugo (1802–1885)
“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.)