Actuarial Foundation of Canada

What Actuarial Foundation of Canada does

The Actuarial Foundation of Canada (AFC) is a registered charity founded in 2003 and headquartered in Ottawa, Ontario. It operates as the philanthropic arm of the Canadian actuarial profession, channeling donations from individual actuaries, actuarial professional bodies, and employers of actuaries into youth financial literacy, mathematics education, scholarships, and actuarial research across Canada. The foundation is run entirely by volunteers and receives in-kind administrative support from the Canadian Institute of Actuaries (CIA), allowing it to direct virtually 100% of donor contributions to program activities.

AFC delivers its mission through four program pillars: Youth Education (school-based financial-literacy and mathematics programs in partnership with organizations such as Junior Achievement Canada, the Canadian Mathematical Society, the Pacific Institute for the Mathematical Sciences, Youth Science Canada, and the Verna J. Kirkness Program), Financial Literacy (post-secondary and continuing education, including work with the Financial Consumer Agency of Canada and the Ontario Securities Commission's Investor Education Fund), Sponsored Research (the Actuarial Research Internship Project and the Maple Leaf Research Award), and Scholarships & Bursaries (the Equality of Opportunity Fund for BIPOC students, the Hugh G. White Memorial Scholarship, the Memorial Actuarial Aboriginal Scholarship, the James C.H. Anderson Bursary at the University of Manitoba, and Girl Guides of Canada scholarships).

Revenue consists entirely of charitable donations at preset gift levels (C$25–C$1,000+ online), plus mail-in and share-transfer contributions. Fundraising is conducted through the AFC website (afc-fac.ca), donor-recognition programs segmented into individual (Visionary through Contributor) and corporate (Diamond through Crystal) lifetime-giving tiers, and annual campaigns — most recently targeting C$250,000 in 2025 to enable approximately C$170,000 in grants and five new BIPOC scholarships. The organization reports no paid employees and serves its end beneficiaries (Canadian youth) via a partnership-and-grant distribution model rather than direct service delivery.

Name

Actuarial Foundation of Canada

Legal name

Actuarial Foundation of Canada

Website

https://afc-fac.ca

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

The Actuarial Foundation of Canada is an Ottawa-based volunteer-run registered charity that funds youth financial-literacy, mathematics education, scholarships, and actuarial research across Canada through donations from individual actuaries and actuarial employers, delivered via partner organizations.

Ownership category

akta.pro rank

Product category

Charitable Youth Education Foundation

NAICS

Grantmaking and Giving Services (81321), Religious, Grantmaking, Civic, Professional, and Similar Organizations (813)

SIC

Services-Membership Organizations (8600)

akta.pro primary industry

Education Grantmaking Foundations (BPAGAKAK)

akta.pro secondary industries

College Access, Scholarships & Student Success Nonprofits (BPAGADAE), Scholarship & Fellowship Foundations and Trusts (EDADAHAC), Community Foundations (BPAGAKAB)

Keywords

• Youth financial literacy
• Mathematics education
• Actuarial scholarships
• Charitable foundation
• STEM bursaries

Headquarters

HQ city

Ottawa

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Individual Actuarial Donations: Individual actuaries and professionals make charitable donations to the AFC, recognized by cumulative lifetime giving tiers (Visionary $100,000+, Philanthropist $50,000–$99,999, Leader $25,000–$49,999, Architect $10,000–$24,999, Builder $5,000–$9,999, Designer $2,500–$4,999, Supporter $1,000–$2,499, Contributor $250–$999).
2. Corporate and Institutional Sponsorships: Actuarial professional bodies (Canadian Institute of Actuaries, Society of Actuaries) and insurance/financial services companies (Casualty Actuarial Society, Sun Life Financial, Intact Insurance, Empire Life, Manulife Financial, iA Financial Group, Eckler Ltd., etc.) provide cumulative lifetime donations and commitments at tiered levels (Diamond $300,000+, Emerald $200,000–$299,999, Platinum $100,000–$199,999, Gold $50,000–$99,999, Silver $25,000–$49,999, Opal $10,000–$24,999, Sapphire $5,000–$9,999, Crystal $2,500–$4,999).
3. 2025 Fundraising Campaign: Annual fundraising campaign targeting $250,000 in 2025 to fund approximately $170,000 in grants to youth programs and support five new BIPOC scholarships.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

The Actuarial Foundation of Canada is a registered charity that funds and coordinates youth financial literacy, mathematics education, scholarships, bursaries, and actuarial research programs across Canada. It operates four core program areas: Youth Education, Financial Literacy, Sponsored Research, and Scholarships & Bursaries. The foundation channels donations from individual actuaries and corporate sponsors into partner-delivered programs serving Canadian students from primary school through post-secondary.

Product overview

The Actuarial Foundation of Canada (AFC) is a registered charity founded in 2003 as the philanthropic arm of the Canadian actuarial profession. The AFC is entirely volunteer-run and receives administrative support from the Canadian Institute of Actuaries. It operates through three core program areas: Youth Education Programs, Financial Literacy Programs, and Sponsored Research, plus a Scholarships and Bursaries program. The Youth Education Programs include partnerships with organizations like the Canadian Mathematical Society (math camps), Junior Achievement Canada (Dollars with Sense, Economics for Success), University of Ottawa Engineering Outreach, Pacific Institute for the Mathematical Sciences, Science and Mathematics in Action (SMAC), Toronto Foundation for Student Success, Verna J. Kirkness Program, Youth Science Canada, Girls to the Power of Math, Leacock Foundation, and the University of Toronto Robertson Program. Financial Literacy Programs include partnerships with the Investor Education Fund and Financial Consumer Agency of Canada. The AFC also funds actuarial research through the Maple Leaf Research Award. The Scholarships and Bursaries program includes the Equality of Opportunity Fund Scholarship for BIPOC students, the Hugh G. White Memorial Scholarship, Memorial Actuarial Aboriginal Scholarship, James C.H. Anderson Bursary, and Girl Guides of Canada Scholarships. Nearly 100% of donations received are committed to supporting programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Youth Education Programs Programs supporting mathematical and financial education for Canadian youth in primary and secondary school, delivered through partnerships with organizations across Canada including Junior Achievement Canada, Canadian Mathematical Society, Pacific Institute for the Mathematical Sciences, Youth Science Canada, Girl Guides of Canada, and others.
• Financial Literacy Programs Post-secondary and continuing financial education and literacy programs sponsored by the AFC, including partnerships with the Ontario Securities Commission's Investor Education Fund and the Financial Consumer Agency of Canada to produce consumer financial literacy resources.
• Sponsored Research Research projects of actuarial interest, including the Actuarial Research Internship Project awarding funding to graduate students for research projects.
• Maple Leaf Research Award Award encouraging and supporting graduate and undergraduate students in actuarial and mathematics careers, funded by a generous gift from Joe Cheng.
• Scholarships and Bursaries Programs supporting high school and university students pursuing math and actuarial education, including the Hugh G. White Memorial Scholarship, the Equality of Opportunity Fund Scholarship, the Memorial Actuarial Aboriginal Scholarship, the James C.H. Anderson Bursary, and the Girl Guides of Canada Scholarships.
• Hugh G. White Memorial Scholarship Two annual scholarships for high school students entering actuarial science or mathematics programs at Canadian universities, established in memory of Hugh G. White.
• Equality of Opportunity Fund Scholarship Scholarships for Black, Indigenous, and people of colour (BIPOC) students pursuing post-secondary education in actuarial science, mathematics, statistics, data management, or computer science. Approximately $16,000 is allocated over four years per student.
• Memorial Actuarial Aboriginal Scholarship Scholarship established at the University of Manitoba for Aboriginal (Status, Non-Status, Metis, Inuit) students pursuing undergraduate studies in actuarial mathematics.
• James C.H. Anderson Bursary Bursary support for actuarial students at the University of Manitoba's Asper School of Business and Faculty of Science.
• Girl Guides of Canada Scholarships Three scholarships for graduating Girl Guides pursuing post-secondary education in mathematics-related programs (actuarial science, mathematics, statistics, or computer science) through Girl Guides of Canada's National Scholarship program.

Quantifiable outcome

• 20 scholarships awarded to BIPOC students since 2021 through the Equality of Opportunity Fund
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

17 partnerships are on record, tiered core and minor.

• Canadian Mathematical SocietycoreStrategic or Co-development PartnerThe AFC provides funding for Math Camps designed primarily for Canadian students in Grades 8 through 11. The AFC also subsidizes Black and Indigenous students participating in CMS math competitions and funds the training and travel expenses of the Canadian European Girls' Mathematics Olympiad Team.
• Junior Achievement CanadacoreStrategic or Co-development PartnerSince 2010, the AFC has sponsored the Dollars with Sense program for Grade 7–9 students in Ontario, Québec, Saskatchewan, Manitoba, PEI, New Brunswick, and Nova Scotia. Experienced business volunteers including actuaries lead students through money management, simple investment strategies, and informed decision-making. Also delivers the Economics for Success program for Grade 8–10 students.
• University of Ottawa Engineering OutreachminorStrategic or Co-development PartnerThe AFC funds mathematical workshops for grades 2–10 and a special math event for 75 girls as part of STEM outreach initiatives.
• Pacific Institute for the Mathematical Sciences (PIMS)coreStrategic or Co-development PartnerPIMS is committed to increasing public awareness of mathematics. AFC supports PIMS' teacher-training workshops focused on Indigenous and other at-risk students in British Columbia, including collaboration with First Nations communities.
• Science and Mathematics in Action (SMAC) — Laval UniversityminorStrategic or Co-development PartnerSMAC awakens and strengthens youth interest in science and mathematics, supports teachers with interactive educational tools, and demystifies mathematics for the general public. Most outreach is in Quebec but the Show Math video has been shown across Canada.
• Toronto Foundation for Student Success (TFSS)minorStrategic or Co-development PartnerSince 2014, the AFC has sponsored a financial literacy component as part of TFSS's Beyond 3:30 after-school program for low-income families in the Greater Toronto Area.
• Verna J. Kirkness Science and Engineering Education ProgramminorStrategic or Co-development PartnerThe program addresses under-representation of Indigenous students at Canadian universities by offering Grade 11 Indigenous students a week in a campus research laboratory, where they meet role models and experience research in math-related subjects.
• Youth Science CanadaminorStrategic or Co-development PartnerThe AFC Awards are presented at the annual Canada-Wide Science Fair to outstanding projects demonstrating effective use of mathematics, database manipulation, and statistical analysis in investigating or solving complex problems.
• Girls to the Power of MathminorStrategic or Co-development PartnerThe AFC supports this program working with elementary school students identifying as girls, assisting them in learning math through mentorship by high school and university students proficient in mathematics in under-resourced Vancouver communities.
• Leacock FoundationminorStrategic or Co-development PartnerAFC funding supports Leacock's Thinkers and Doers program in schools in financially challenged areas of Toronto, focused on learning opportunities at a March break math camp.
• University of Toronto — Robertson ProgramminorStrategic or Co-development PartnerAFC funding goes towards a financial literacy add-on to the Robertson Program's Playful Math program for grades 2 to 8, advancing equitable access to research-based math and science education.
• Girl Guides of CanadacoreStrategic or Co-development PartnerThe AFC contributes to three national scholarships for graduating female students pursuing post-secondary education in mathematics-related programs (actuarial science, mathematics, statistics, or computer science) through Girl Guides of Canada's National Scholarship program.
• JA Central OntariominorStrategic or Co-development PartnerAFC supports the Dollars with Sense initiative in central Ontario, where actuaries and business volunteers instruct and inspire grade seven students about financial opportunities.
• Investor Education Fund (Ontario Securities Commission)minorStrategic or Co-development PartnerIn 2014, the AFC partnered with the IEF to record a series of informational videos on retirement and health care issues, three of which were posted on the Globe and Mail's website. These videos help Canadians become aware of health care issues impacting financial planning in retirement.
• Financial Consumer Agency of Canada (FCAC)minorStrategic or Co-development PartnerIn 2013 and 2014, the AFC contributed volunteer expertise to the FCAC's projects to update and improve parts of the FCAC website with financial literacy resources for Canadian consumers.
• Canadian Institute of Actuaries (CIA)coreStrategic or Co-development PartnerThe CIA is the primary administrative supporter of the AFC, providing head office support. As a Diamond-tier corporate donor ($300,000+ cumulative), the CIA also serves as the governing body of the Canadian actuarial profession that the AFC is the philanthropic arm of.
• University of Manitoba — James C.H. Anderson BursaryminorStrategic or Co-development PartnerIn 2005, the AFC facilitated a $100,000 contribution (matched by the Manitoba Scholarship and Bursary Initiative for a $200,000 fund) to provide bursary support to actuarial students at the University of Manitoba's Asper School of Business and Faculty of Science.

Scale indicators6 records

Recent moves6 records

Expansion highlights3 records

Emerging players

• The Casualty Actuarial Society (CAS) Trust: US-based actuarial society with charitable and educational programs supporting casualty actuaries, including scholarship and research programs. Comparable as a peer organization within the actuarial profession's philanthropic ecosystem and a current corporate donor of the AFC.

Direct peers

• Indspire: Canadian Indigenous-led charity providing bursaries and scholarships to Indigenous students, including those pursuing STEM and business fields. Directly comparable as a Canadian scholarship-focused education charity serving underrepresented populations, with similar donor tiers and corporate partnerships.
• Loran Scholars Foundation: Canadian merit-based scholarship program for undergraduate students demonstrating character, service, and leadership. Directly comparable as a Canadian scholarship foundation with corporate donor partnerships and a focus on developing future professional talent.
• Junior Achievement Canada: National youth financial literacy charity delivering the Dollars with Sense and Economics for Success programs that the AFC sponsors. AFC is a sponsor/funder of JA Canada programs; JA Canada is a comparable peer in terms of youth financial literacy mission and Canadian program delivery.
• The Actuarial Foundation (US): The US counterpart of the AFC, founded to support the actuarial profession's philanthropic mission in the United States. Directly comparable mission, structure, and program areas (scholarships, research, financial literacy) — the most relevant peer for benchmarking fundraising effectiveness and program portfolio design.
• Schulich Leader Scholarships: Canadian scholarship program specifically supporting undergraduate students pursuing STEM degrees at partner universities. Directly comparable as a Canadian STEM-focused scholarship foundation with corporate sponsor funding and youth-talent-pipeline mission.
• Canadian Education Statistics Council: Canadian organization advancing education research and policy; comparable to AFC's sponsored research pillar and its interest in advancing education outcomes for Canadian students in mathematics and finance.
• Canadian Mathematical Society: National professional society supporting mathematics education, research, and student competitions in Canada. AFC funds CMS math camps and Olympiad training; CMS is a directly comparable peer in advancing mathematics education and is a core program partner of the AFC.

Broad incumbents

• United Way Canada: Large national community fundraising organization supporting a broad range of education, health, and social services in Canada. A broad incumbent peer in the Canadian community-foundation space with much larger scale, workforce, and corporate donor relationships than the AFC.
• Imagine Canada: National umbrella organization for the Canadian charitable sector, advancing sector standards and advocacy. A broad incumbent peer operating in the same charitable/nonprofit ecosystem but focused on sector-level support rather than direct program delivery.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/ActuarialFndCan

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Actuarial Foundation of Canada