When Canary was founded we needed a nonprofit partner equally invested in our commitment to innovate for workers’ financial wellness. This charitable partner would oversee grant program guidelines and decisions, ensuring that Grant Circle was compliant with IRS rules governing employer-sponsored relief funds. Early on, we were fortunate to work with the team at The Workers’ Lab on the charitable activity at the core of how Canary helps people access the money they need, quickly, with dignity, and without tax implications.
Their partnership has been instrumental in creating a solid foundation to help workers access tools to support their financial well-being. However, as we’ve grown, it became imperative to transition these responsibilities to a new, independent nonprofit to support our work. So, over the past year, we have worked to create Canary Impact Lab, an independent 501(c)(3) tax-exempt organization.
Canary & The Workers’ Lab: partnering to help workers cope with financial hardship
We are incredibly grateful that we found partners so philosophically aligned with the work we do. The Workers Lab has a longstanding commitment to understanding the value and best practices for delivering emergency cash to workers. Prior to the pandemic, they deeply explored the impact emergency cash can have on workers through their Workers Strength Fund. They expanded on this knowledge to deliver nearly $2.8 million to workers through The Workers Fund: COVID-19 Rapid Response. The Workers Lab does this work because its purpose is to give new ideas for workers a chance to succeed and flourish. Ultimately, they envision a society where all workers are safe, healthy, secure, and free.
Their thought leadership and foundational work will continue to live on in important ways as Canary Impact Lab shifts to manage the oversight of Canary’s grant-making process. We truly wouldn’t be in the position we are today, helping as many workers, without their expertise, knowledge, and willingness to innovate alongside us.
Spotlight on the real-life impact of our work to address employee financial wellness
The impact of our work together cannot be overstated. Our work, as backed by The Workers’ Lab, delivered xx amount of money to xx workers across our partner organizations. Before we turn to what the future holds with a Canary and Canary Impact Lab, Inc. partnership, we want to look back at some of the grantee stories that highlight the importance of our work, supported by TWL.
“At the time of the event, we were in fear of losing our home and The Grant Circle helped that. My husband is still not working so when our roof was damaged in a wind storm and had to be replaced, we had to come up with a deductible of $500 but thankfully insurance covered the rest. Grant Circle gave me peace of mind.”
“This is a complete relief. Struggling to find the funds to lay my mom to rest was the worst part of this grief process. Knowing I can now put my family at ease was an amazing thing.”
“I was overwhelmed, behind on rent, and didn’t know what to do. My son was born, my second job cut hours, and my partner wasn’t working because she just had a baby.”
What does this mean for current and future employee relief fund partners?
Canary Impact Lab, Inc. is replacing The Workers’ Lab as the intermediary that holds all Grant Circle funds (company seed funds and payroll or credit card donations) for each participating organization. So, we are working closely with The Workers’ Lab to ensure a smooth transition for all of our existing clients and setting the foundation for seamless onboarding with new clients. The transition ensures that any grant received as a result of experiencing financial hardship is tax-exempt, and any donation (corporate or individual) to an organization’s Grant Circle employee relief fund is a charitable contribution.
In addition to raising and distributing funds to support individuals experiencing financial hardship, Canary Impact Lab, Inc. conducts research, advances best practices, influences policy development, and experiments with new approaches to bolster financial health.
We are excited for the next chapter of our work but would be remiss if we didn’t acknowledge our friends at The Workers’ Lab for helping us get here. Thank you for the support and hard work to ensure more workers have access to the right money at the right time.
