WellFunded

Strong Governance Foundation with Active Oversight

Rise demonstrates solid governance practices with a 10-member board that meets five times annually and includes accomplished professionals with deep expertise in finance, healthcare, addiction services, and public administration. The board has conducted formal self-assessments and CEO evaluations within the past three years, and members have engaged in professional development—all signals of active, accountable oversight. Term limits are in place to ensure leadership renewal, and the longest-serving member has been on the board for seven years, indicating healthy turnover. The board is entirely independent, with no staff serving as voting members, which strengthens accountability and strategic focus.

Critical Gap: Missing Conflict of Interest Policy

Rise reports that it does not have a Conflict of Interest policy with regular disclosure and a process for managing potential conflicts. This is a significant governance red flag, as such a policy is foundational to board integrity, transparency, and donor confidence. Given the board's financial oversight responsibilities—including loan disbursement and fundraising—the absence of a formal conflict management framework raises concerns about how potential conflicts are identified, disclosed, and mitigated. Funders should inquire about plans to adopt and enforce a robust Conflict of Interest policy with annual disclosures and clear procedures.

Governance Manual Review: Strong Practice in Place

Rise's board regularly reviews and formally approves its Board Governance Manual at least every three years, which is a best practice that ensures clarity around roles, responsibilities, and accountability structures. This disciplined approach to governance documentation supports effective decision-making and helps the board stay aligned with evolving best practices and regulatory expectations. It reflects a commitment to continuous improvement and institutional knowledge preservation.

Opportunity: Lived Experience Representation on the Board

Rise does not currently include board members with lived experience of mental health or addiction challenges—the very population it serves. While the board brings strong professional expertise, including a Chief of Addiction & Trauma Services, the absence of direct lived experience representation may limit the board's ability to fully understand client needs, reduce stigma, and ensure that governance decisions are informed by those most impacted by the organization's work. Funders may wish to explore how Rise plans to incorporate lived experience voices into its governance structure to strengthen mission alignment and community accountability.

Financial Health Summary

Rise Asset Development demonstrates mixed financial signals requiring careful attention. While the organization maintains audited financials and diversified revenue streams (5 sources including government, foundations, and donations), it experienced a significant deficit of $214,933 in fiscal 2024, following an unusual surplus of $2.4M in 2023 (likely due to a data anomaly given expenses of only $240K that year). The organization's program spending ratio was strong at 82% in fiscal 2023, reflecting solid mission focus, though 2024 program expense details are unavailable for comparison.

Surplus/Deficit Trends

The three-year trend shows volatility: a modest deficit of $30,660 in 2022, an anomalous surplus of $2.4M in 2023 (expenses appear significantly understated at $240K versus $2.6M revenue), and a concerning deficit of $214,933 in 2024. Excluding the 2023 anomaly, the organization appears to be operating near break-even with slight deficits, which is manageable but requires monitoring to ensure long-term sustainability.

Financial Reserves & Liquidity

Rise Asset Development reports critically low cash reserves of only 1 month of operating expenses, with cash declining from $1.24M (2023) to $809K (2024). This represents a significant financial vulnerability, as the organization has minimal buffer to handle unexpected funding delays, program disruptions, or donor changes. With total compensation of $1.6M annually, the current cash position provides inadequate runway for financial resilience.

Revenue Diversification & Donor Concentration

The organization demonstrates healthy revenue diversification across five streams: foundation grants (30% from other charities including major gifts from Azrieli, Rotman, and Garron Foundations), government funding (31% federal/provincial combined), and individual donations (9% receipted). However, 21-40% of funding comes from the top 5 donors, creating moderate concentration risk. The donor base of 259 contributors with 50% retention rate suggests reasonable community support, though retention could be strengthened.

Financial Oversight & Capacity

Rise Asset Development has appropriate financial infrastructure including audited statements, a board-approved financial policy for large donations, documented financial procedures, and a finance/audit committee. The organization has successfully managed gifts up to $1M and demonstrates capacity to handle major donations. However, the balance sheet shows assets equal to liabilities ($2.14M each) in 2024, suggesting zero net assets—a concerning indicator that warrants clarification about the organization's equity position and long-term financial stability.

Comprehensive, Evidence-Based Model Aligned with Mission

Rise Asset Development demonstrates exceptional alignment between its mission and programming approach. The organization employs a Theory of Change framework with clearly defined short- and long-term measurable goals, tracking outcomes such as business survival rates (75% sustained self-employment, 4 out of 5 clients still in business), loan repayment rates (85%), and client confidence metrics. Their comprehensive model uniquely combines flexible microloans ($500-$4,053 average) with tailored training, mentorship from 181+ volunteers, and peer support—addressing the multifaceted barriers faced by Canadians with mental health and addiction challenges. This integrated approach directly targets poverty alleviation through economic empowerment, serving 1,328 clients in FY25 and disbursing over $4.1 million in loans since inception. The organization's volunteer-leveraged model significantly reduces operational costs while extending specialized expertise to entrepreneurs nationwide.

Strong Feedback Mechanisms Drive Program Innovation

Rise demonstrates exemplary responsiveness to constituent needs through systematic feedback collection and program adaptation. The organization created the Rise Business Booster program specifically after surveying training participants who expressed they weren't ready for larger loans and wanted continued peer learning—filling a critical gap between training and lending with $500-$1,000 practice loans. Similarly, the Rise Community online platform emerged directly from focus groups and surveys revealing entrepreneurs' need for peer validation and support to combat the isolation of entrepreneurship. This feedback-driven approach ensures programs remain relevant and responsive to the lived experiences of people with mental health and addiction challenges, demonstrating accountability to the communities served.

Impressive National Scale with Equity-Focused Reach

Rise has achieved remarkable geographic and demographic reach as Canada's only national charity providing this comprehensive entrepreneurship pathway for people with mental health conditions or addictions. Operating across all provinces and territories through remote services and regional offices, the organization demonstrates strong commitment to equity with 56% racialized and 6% Indigenous participants in FY25. The scalability of their model—serving over 5,000 entrepreneurs since 2010 while maintaining an 85% loan repayment rate—indicates both operational effectiveness and genuine impact. Their expansion from four provincial offices to nationwide coverage, plus the addition of specialized programs like the Women+ Training Program (launched 2023), shows strategic growth responsive to underserved populations.

Robust Impact Measurement with Transparent Reporting

The organization employs multiple verification methods to track impact, including quantitative metrics (loan disbursement rates, business survival rates, repayment performance) and qualitative measures (client-reported confidence, financial literacy gains). Rise publishes annual social impact reports and maintains public transparency through dashboards and open data, demonstrating accountability to donors and stakeholders. Their ability to track long-term outcomes—such as sustained self-employment rates and multi-year business survival—indicates sophisticated data systems and commitment to measuring what matters most: lasting economic stability for participants. The organization regularly evaluates progress toward goals and uses findings to inform program design, as evidenced by their creation of the Business Booster program based on conversion rate analysis.

Limited Formal Partnerships May Represent Missed Opportunities

While Rise engages in informal collaborations such as knowledge sharing and event co-hosting, the organization does not report formal strategic partnerships, joint programs, or shared service agreements. Given the complex needs of their target population and the intersectional nature of mental health, addiction, employment, and poverty, formal partnerships with mental health agencies, employment services, or other community development financial institutions could potentially amplify impact, reduce duplication, and provide more comprehensive wraparound supports for clients. Donors may wish to explore whether Rise has considered strategic partnerships that could enhance service delivery, expand funding opportunities, or strengthen referral pathways for clients needing additional supports beyond entrepreneurship training and lending.

Exceptional Board Composition with Deep Sector Expertise

Rise demonstrates outstanding governance strength with a 10-member board featuring impressive diversity and highly relevant expertise. The board includes mental health professionals (Dr. Yelena Chorny, Chief of Addiction & Trauma Services), financial experts (Alex Bellamy, CPA Fellow; Philippe Savoy with extensive FX and payments experience), and seasoned nonprofit leaders (Patrick Dion, recognized mental health advocate with Order of Ottawa). Gender diversity is exemplary with 70% female representation, and the board includes visible racial diversity. Board members bring lived commitment to mental health causes, with several having dedicated decades to related philanthropic work. All directors serve at arm's length (except one noted), and the board structure includes proper committees (Finance/Audit/Risk, Governance & Nominating) with designated chairs, indicating strong accountability mechanisms.

Strong Leadership Team with Mission-Aligned Experience

The executive team demonstrates both operational excellence and authentic connection to Rise's mission. CEO Adwoa Buahene brings 20+ years of entrepreneurial and nonprofit leadership, including CEO experience at TRIEC and VP roles at Habitat for Humanity. COO Beth Dea has successfully scaled the organization from 5 to 25 staff over seven years, tripling revenues and expanding from Toronto to national operations across all provinces and territories. The leadership team is 100% female and racially diverse, with directors showing deep sector expertise in programs, development, client success, and communications. Notably, several leaders have grown internally (Diana Safina advanced from Loan Administrator to Director; Erin Burgess progressed through multiple roles since 2018), suggesting strong succession planning and organizational culture that develops talent from within.

Robust Operational Capacity with 16 FTE Staff

With 16 full-time equivalent staff, Rise demonstrates solid mid-sized operational capacity appropriate for a national organization managing complex programming including microloans, training, mentorship, and client support across Canada. The organization has grown significantly from 5 staff in 2017, indicating sustainable expansion aligned with program growth. This staffing level supports the organization's impressive track record of disbursing 1,000+ loans totaling $4.1 million and serving 5,000+ entrepreneurs with support from 675+ volunteers. The staff size suggests adequate resources for both program delivery and administrative functions, reducing sustainability risks that smaller organizations might face.

Commitment to Internal Culture and Staff Development

Rise demonstrates healthy internal practices by collecting staff satisfaction feedback and providing professional development opportunities within the past 24 months. This commitment to staff well-being and continuous learning is a strong indicator of organizational health and suggests lower turnover risks. The organization has also implemented mental health training and resources for staff and volunteers, showing values alignment between external mission and internal culture. The presence of formal strategic planning with KPIs, combined with staff development initiatives, indicates a mature organization that invests in its people while maintaining accountability to measurable outcomes.

Transparency and Credibility Signals Well-Established

Rise demonstrates exceptional transparency through comprehensive leadership bios with LinkedIn profiles, active presence across five social media platforms, and formal annual reporting. The organization's 15-year track record since 2009, combined with founder Sandra Rotman's recognition with the Order of Ontario, provides strong legitimacy signals. Board members hold prestigious credentials (CPA Fellow, ICD.D designations, Harvard education) and several have received significant honors (Order of Ottawa, Queen's Diamond Jubilee Medal). The organization's unique positioning as Canada's only national charity combining microloans with comprehensive entrepreneurship support for people with mental health and addiction challenges is clearly articulated, demonstrating strategic clarity and market awareness.

Clear and Compelling Mission Narrative

Rise demonstrates excellent clarity in communicating its mission and unique value proposition. The organization articulates a specific target population (Canadians with mental health and addiction challenges), a clear methodology (entrepreneurship training, microloans, mentorship), and measurable outcomes. The messaging effectively balances emotional resonance with concrete impact metrics, noting over 1,000 loans totaling $4.1 million and support for 5,000+ individuals since 2010. The stated values of Care, Empowerment, and Inclusion align well with the program description and create a coherent brand identity.

Strong Multi-Channel Engagement Strategy

Rise maintains an active presence across five social media platforms (Twitter/X, YouTube, Facebook, LinkedIn, Instagram) and engages donors through direct meetings, site visits, and events. This multi-channel approach demonstrates commitment to accessibility and stakeholder engagement. The organization produces regular impact reports with evidence-based metrics, providing transparency on program outcomes. However, no sample newsletter was provided for review, making it difficult to assess the quality and frequency of broader community communications.

Limited Independent Impact Verification

Rise does not currently engage in independent external audits or reviews of program impact, relying instead on internal evaluation through their Social Inclusion Survey (SIS). While the organization expressed conditional openness to donor-funded independent reviews, they noted concerns about resource burden on staff. For an organization that has disbursed over $4.1 million in loans, the absence of third-party verification represents a transparency gap that may concern donors seeking rigorous accountability, particularly for larger gifts.

Unique Market Position Well Articulated

Rise effectively communicates its distinctive role as the only national Canadian charity combining microloans with comprehensive entrepreneurship support specifically for individuals with mental health and addiction challenges. This clear differentiation helps donors understand the organization's unique contribution to the sector. The comprehensive service model (financing, training, mentorship, peer support) is well-explained and demonstrates thoughtful program design that addresses multiple barriers to entrepreneurship.

Transparency Gaps in Financial and Outcome Reporting

While Rise provides aggregate impact numbers, the available data lacks detail on key transparency indicators such as loan repayment rates, business survival rates, or longitudinal outcomes for participants. The organization's reluctance to pursue external impact verification, combined with limited publicly available detailed financial reporting in the provided materials, may raise questions for donors seeking deeper accountability. Potential donors should request more granular data on program effectiveness, cost per participant served, and long-term sustainability metrics before making significant commitments.