Celebrating 15 Years of Rise Resilience, Evolution, and Growth
Impact Report, May 2024 – April 2025
Another Year of Accelerated Growth
Reflecting on the 2025 fiscal year (FY25), it’s safe to say it was extraordinary. This was our 15th year of operation, and our fifth since the COVID-19 pandemic inspired a fundamental change to how we deliver programming.
We could not be prouder of our achievements this year and the incredible trajectory of growth that brought us here. In FY25, we disbursed our 1,000th loan and saw our training program clients increase by more than 116% year-over-year. We also broadened and deepened our base of donors, grant-makers and supporters with curated events in Toronto, including our largest-ever fundraiser, Rise & Thrive.
Our CEO, Lori Smith, stepped down in the fall of 2024, prompting an extensive search for a new leader. The whole Rise team – including our dedicated Board – collaborated more closely than ever, continuing to deliver incredible results amidst significant change. Philippe Savoy was honoured to become our new board chair in September 2024, and in June 2025, we welcomed our new CEO, Adwoa K. Buahene, who will usher us into our next era of growth.
We want to extend immense gratitude to our clients, supporters, donors and sponsors. You make Rise what it has become over this past decade and a half, and we can’t wait to share what’s ahead.
Philippe Savoy,
Board Chair
Beth Dea,
Interim CEO (to June 2025), COO
Looking Ahead to a Bright Future
Building on our successes
Since joining Rise in June 2025, I’ve focused on learning about our work and meeting our stakeholders and supporters to understand the "secret sauce” behind our success to date.
Like our clients, Rise has proven its resilience time and time again. Throughout the ongoing economic and social uncertainties that have characterized the last several years, we have evolved to meet the moment. We've responded to external conditions and constraints by adapting our programs so that we can meet clients where they are and continue to expand our reach.
It can be difficult to keep up with the speed and volume of change we’re experiencing from day to day. But when I look at this organization and our incredible clients, I see a motivated, creative and resilient group of people, primed to weather the storm, innovate, and emerge stronger and wiser than before.
I feel privileged to join Rise at this pivotal moment. In 2026, we will launch a new strategic plan that will guide our growth in the years ahead, expanding and deepening the ways we empower Canadians across the country. I am grateful to share this journey with our clients, volunteers, supporters, and team, and look forward to what we can achieve together.
Sincerely,
Adwoa K. Buahene,
CEO
15 Years of Rise
In the 15 years since Rise was founded, we have:
In the past 5 years, we have:
Client Story
Rise's 1,000th Loan: Cacaowabanga!
In Rise’s 15-year history, we have funded many types of businesses, including apparel, food, professional services and more. In 2025, we disbursed our 1,000th loan to a business with zip: Izzy Francis-Cloutier and Benjamin Kogan’s Cacaowabanga Turkish Coffee and Hot Cacao. Dedicated to serving quality coffee and cacao to their community of North Cowichan, BC, Izzy and Benjamin’s Rise loan helped them bring their dreams to life and launch a small business.
According to Izzy, the support Rise provided was nothing short of crucial. “Working with Rise taught us perseverance and the importance of being thorough,” she says. “We learned to talk about our business in a way that was understandable and exciting to others…and what degree of financial prudence would lead us to success.”
But the benefits didn’t stop there: Izzy and Benjamin also credit Rise with helping them to gain confidence in their vision and potential as entrepreneurs.
While Cacaowabanga is a young business, its future looks bright. “We have received a lot of positive feedback and validation,” says Izzy. “To put it simply, people are excited about cacao and alternative coffee preparation methods.” And Izzy and Benjamin’s personal outlooks have improved too: “We are truly excited about work…[this is] a feeling that we both treasure immensely.”
Expanding Our Impact
FY25 was a huge year for Rise. We disbursed a record-breaking 127 loans and disbursed $514,767.
Not only did we see growth in our loan disbursement, we also made major strides in training delivery. In FY25, our training program reach increased 116% year-over-year, engaging 1,200 participants.
We also made some impactful changes to our program delivery to further diversify how entrepreneurs can access our supports. In FY25, that meant:
- Launching a new workshop series to provide clients with short but informative opportunities to upskill and expand their learning.
- Returning to our pre-COVID roots, restarting in-person programming in Toronto, Vancouver, Ottawa and Atlantic Canada to help meet clients’ learning styles and objectives and facilitate local connections.
Snapshot
FY25 Lending & Training Programs
Program Highlight
Workshops
Responding to Client Needs
To help us reach more individuals at diverse stages of their entrepreneurial journeys, in FY25 we launched Rise EmpowerU—a series of low-commitment workshops to help entrepreneurs build skills and knowledge in specific areas of business, entrepreneurial growth and mental health. The one- to two-hour single-topic sessions open new pathways for us to engage clients and help them address their unique needs, particularly as they move towards loan readiness.
Last year we offered virtual EmpowerU workshops nationwide, as well as in-person sessions in Ottawa and Atlantic Canada. Topics included: selling at markets and pop-ups; balancing mental health and business; public speaking; using Excel; and building financial literacy.
Partner Highlight
Celebrating Our Diversity
- Areeba, Women+ Entrepreneurship Program Graduate
Client Story
Meet Renata & Areeba
Renata and Areeba have both faced mental health challenges that made the freedom and empowerment of entrepreneurship seem out of reach. With support from Rise, they have not only built small businesses but also the skills and confidence to persevere as entrepreneurs. Best of all, they now have meaningful work that improves their well-being and empowers them to give back to their communities.
Who Are Rise Clients?
Client Age
Client Gender
Client Diversity
Client Location
Tammy L. Nischuk
Calgary, AB
Women+ Entrepreneurship Program
Jonathan Gillingham
Jonathan Gillingham Photography | Yellowknife, NT
Small Business Lending Program
Cultivating Our Community
The support and collaboration of our community are crucial to our success and that of our clients. By cultivating new partnerships, we are able to continually improve the programs and supports we can offer Rise clients as they explore and pursue entrepreneurship.
This year, we continued to expand our partner network and broadened our community of dedicated volunteers to better support the needs and interests of clients across the country.
Partner Highlight
Victoria Native Friendship Centre
Partner Highlight
Fruits from the Roots
Growing Community, Growing Connection
In May 2023, we proudly launched our Rise Community to clients, creating a space for peer support, conversation and networking. This year, we continued to cultivate that community by introducing new offerings, including a series of interactive mental health panels attended by over 100 community members. We were also pleased to welcome volunteer mentors to the platform, broadening our circle of support for clients and providing a space for mentors to connect with each other.
In FY25, we expanded our team of Subject Matter Experts who share their expertise via the Rise Community. Through online engagement and virtual office hours, they help provide Rise clients and alumni with personalized support for their unique business challenges. We also facilitated dozens of hours of peer support for small business owners, enabling networking and collective problem-solving.
Snapshot
Our Community in FY25
Client Story
The Right Support at the Right Time
Life and business partners Jody Franklin and Andrea Coates began their entrepreneurial journey in 2018, after several years out of the workforce recovering from mental health challenges. Attracted to the flexibility and accommodation that self-employment could offer, they worked hard to establish a business and build their brand: Shaggy Jack’s Wild Mushroom Foraging for Beginners. They experienced early success and quickly began to expand from mushroom education to supply.
Jody and Andrea came to Rise seeking extra financing for business growth in 2024. They had many new business opportunities but were struggling to manage the impact of seasonal fluctuations on their financial planning. Rise disbursed a loan to Jody and Andrea, and paired them with a Rise volunteer mentor, James Thalla-Joel. “While the loan was timely,” says Jody, “the mentorship provided by James proved to be a game-changer.”
James counselled Jody and Andrea on business financing for seasonal economies and set up a custom spreadsheet system tailored to their needs. But his support didn’t just provide peace of mind. “The clarity [James] helped us achieve in our finances helped us turn things around,” says Jody. “His mentorship was integral in helping us make our decision to expand because he helped us understand and project our numbers.”
The benefits of the mentorship ran both ways. James notes the positive impact that the mentorship had on him, both personally and professionally: “[Mentorship] isn’t just about me sharing my knowledge, but it’s also about learning from others to deepen my experiences. Jody and Andrea’s business operates in an interesting industry and geographical location that has broadened my exposure to different sectors.”
Today, Shaggy Jack’s is a thriving brand, offering mushroom foraging tours and operating a bustling grocery market in Gibsons, BC. Overall, both mentee and mentor rate the partnership as a success. “It’s amazing how far we’ve come,” says Jody, “and we’ve been lucky to have folks like James who have believed in us and helped us figure things out. Neither of us imagined being able to do something like this a decade ago.”
Thank You to Our Dedicated & Motivated Board
We’d like to extend a heartfelt thank you to our Board of Directors for its steadfast leadership in fiscal year 2025.
This year, we thanked departing board members Raksha Bhayana and Nikki Moffat for their valuable contributions, and welcomed Alex Bellamy, Yelena Chorny, Patrick Dion, and Harriet Goodman as new board members. We are also grateful for the commitment of our past Board Chair, Lori Spadorcia, who officially passed the baton to our new Board Chair, Philippe Savoy, in September 2024. Together, the board’s collective wisdom and leadership have been a trustworthy guide.
Philippe Savoy, Chair SVP Corporate Sales Canada, Corpay
Alex Bellamy, Treasurer, Chair, Finance, Audit & Risk Committee Senior Partner, Deloitte
Boafoa Kwamena, Secretary, Chair of the Governance & Nominating CommitteeDirector, Strategic and Intergovernmental Policy Branch, Ministry of Infrastructure
Harriet Goodman, DirectorCorporate Director, MBA
Lori Spadorcia, Past ChairSenior Vice President, Public Affairs, Partnerships, and Chief Strategy Officer, Centre for Addiction and Mental Health (CAMH)
Patrick Dion, DirectorPresident, Patrick Dion Consulting Inc.
Tamara Bahry, Director Tamara Bahry Photography and CEO Bahry Foundation
Tassan Sung, Director Founder, SPOKEN Leadership & Education
Tom Little, Director Corporate Director, CPA, ICD.D
Tom Scheuring, Director, Chair, Fundraising CommitteeManaging Director, Global Equity Trading, RBC Capital Markets
Yelena Chorny, DirectorPhysician, Substance Use & Mental Health
Securing Our Sustainability
In FY25, we paired growth with sustainability to continue empowering entrepreneurs nationwide. As part of our commitment to diversification and ongoing growth, we are excited to be entering the impact investment space and bringing on new partners to support our loan fund.
This year we also held Rise & Thrive, our first major fundraiser in Toronto. It was a powerful evening and a smashing success!
Our Sustainability
Engaging Events
An Event to Empower: Rise & Thrive
In April 2025, we were proud to present Rise & Thrive, an evening event in downtown Toronto, celebrating the transformative impact that entrepreneurship can have on the lives of people with mental health and addiction challenges.
Client voices, talents and experiences were highlighted throughout the night: through our bustling client marketplace, the artist who created our attendee gift, the photographer who captured the evening’s festivities, and the clients who shared their stories for our impact video.
An audience of over 200 heard from our talented emcee, Genevieve Roch-Decter, and our keynote speaker, Dr. Diane McIntosh, and enthusiastically participated in our live auction, which drove event fundraising to incredible heights.
We are grateful for the support of our presenting sponsor, GreenShield, and for the enthusiasm and dedication of our Rise & Thrive event committee, including co-chairs Lindsay and Keefer Pitfield, who helped make the evening a success.
Making a Difference, Every Day
Celebrating our clients & volunteersRick Couchman Rotman Family Entrepreneur of the Year Award
“My confidence has gone through the roof [since launching my business]. I’ve become a champion for mental health, so I speak about it openly and on all my socials. I’ve really improved my outlook.”
Melissa Bradshaw Bell Let’s Talk Start-up Award
“This is more than a business venture for me – it’s a passion project born out of a desire to make a difference in the way we care for our hair and ourselves. Educating customers about the benefits of using natural, gentle ingredients for their hair is a key focus.”
The Savoy-Pitfield Family Dave Richardson Champion Award
“We will never, ever, ever have enough people helping in [the mental health and addictions] space. When you get involved with Rise, you can be directly involved in helping someone who is wrestling with a problem, and that is incredibly valuable.”
Emily Cole Dr. Paul Garfinkel Resilience Award
“If I gave up the first, second, or third time that someone said ‘no,’ I never would have been successful. It really does take perseverance. It really does take dedication, and you never know what the possibilities are if you don’t keep pushing.”
Prince Khan Scotiabank Volunteer of the Year Award
“I’ve gone through times of depression and anxiety myself, and I understand that it’s really hard to talk to people about it. With Rise … I feel like I can give back to people experiencing the same barriers in their personal lives.”
Thank You, Donors!
The generous support of our community of like-minded funders, partners and donors makes our work possible. Every dollar you give creates a meaningful impact in the lives of Rise clients around the country.
Rise By The Numbers
* According to 2021 Canadian census data.