The Cherry Hill-based TD Charitable Foundation, the giving arm of TD Bank, has increased the amount of money available in its Housing for Everyone grant competition to $4.9 million this year, up from $3.75 million in the previous year, it announced Monday.
The foundation said it will award grants to 32 local housing nonprofits that provide direct relief and support services to keep renters in affordable units in the wake of the COVID-19 pandemic’s devastating effect on the economy.
It said statistics show 30-40 million renters are at risk of losing their homes by year-end, with nearly one-third of renters working in the employment sector hardest-hit by the pandemic — food, entertainment and retail workers.
“Given the urgent need for rent relief, the TD Charitable foundation increased the total monetary amount of grants by 30%, from $3.75 million up to $4.9 million, this year,” Paige Carlson-Heim, director of the foundation, said in a prepared statement. “TD Bank represents one of the few funders working to support affordable housing efforts for families and individuals who rent. We wanted to increase our support, given the extra burden created by the pandemic.”