Who we are
The Actuarial Foundation of Canada (AFC), a registered charity, is the philanthropic arm of the actuarial profession in Canada. It was founded in 2003 to support youth financial literacy, education and careers in actuarial and mathematical sciences. Most of the initiatives supported by the AFC are targeted towards financially or societally challenged Canadian youth.
The AFC is run entirely by volunteers and receives administrative support from the Canadian Institute of Actuaries. Virtually 100% of the donations the AFC receives are devoted to the worthy programs it supports or administers. The AFC is mainly financed by individual actuaries, actuarial professional bodies and employers of actuaries in Canada.
Many in our society have a low level of financial literacy, which can lead to poor financial decisions and a lack of confidence in making those decisions. Given that individuals are now expected to be more responsible for their financial futures, we must raise the level of financial literacy in Canada through targeted educational initiatives. The AFC is committed to helping achieve this goal by supporting Canadian youth.
Youth programs we support
Many programs supported by the AFC are run through partnerships with effective organizations that are mainly registered charities. This enables the AFC to reach young Canadians in all regions of the country.
To learn more about groups the AFC has recently partnered with, visit our page on youth education.
Our scholarships and bursaries programs
The AFC grants annually several scholarships and supports a few organizations in their bursaries programs.
Learn more about the scholarships and prizes granted by the AFC.
Supporting DEI: The Equality of Opportunity Fund
In 2021, the AFC created the Equality of Opportunity Fund. Its objectives are to finance scholarships for BIPOC students and to support various diversity, equity and inclusion (DEI) programs. Such DEI programs are in accordance with the AFC’s mission and directed towards youth who face societal obstacles to success due to discrimination against their gender, race/ethnicity, financial circumstances, disability or sexual orientation.
Since the Equality of Opportunity Fund’s inception three years ago, the AFC has awarded 14 scholarships to BIPOC students in mathematics-related disciplines: three in 2021, five in 2022 and six in 2023! Each award means that another BIPOC student is supported by the AFC with approximately $16,000 allocated over the four years of their undergraduate career.
Our 2023 fundraising goal
Considering the rapid growth of its programs and the needs of its beneficiaries, the AFC’s goal is to raise $260,000 in 2023. Achieving this goal would enable the AFC to continue to provide grants of about $165,000 to support numerous young Canadians get through various programs and would allow for the complete financing of six new scholarships for BIPOC students through their entire academic program.
How donations to the AFC will benefit Canadians
- The AFC will be able to meet the objectives of its Equality of Opportunity Fund and to partner with carefully selected charitable organizations to deliver effective educational support to Canadians.
- Canadians will be able to feel confident in making appropriate financial decisions, with additional financial tools at their disposal.
Please consider making a donation to a very worthy cause. When you financially support the social actions of YOUR actuarial foundation, you receive a tax credit for all donations. Also, many companies may allow a corporate donation match for charitable contributions, which could double your donation instantly! Please check with your employer for such programs.
Browse through our website to learn more about the AFC’s achievements and to get involved in other ways to help Canadians.
Thank you for supporting the AFC, the charity proudly representing YOUR profession to help others have a stronger future.
As actuaries, we think we owe that to the society and to the people we live with. Together, we will make a big difference in the future of many!