Increasing consolidation in healthcare has resulted in an increase in health conversion foundations. When a non-profit hospital, health plan or system acquired or converted to a for profit, federal law required proceeds from the transactions are donated to a charity, often via a foundation endowment to support continued health-related services within a community. Immediately upon formation, there is often much pressure from the community to fund initiatives.
Support from the local community is imperative to success. Health conversion foundation leaders should initially consider five important ideas: know your grant budget before issuing grants, address social detriments of health such as education, food, and housing needs, have ample representation from the local community, develop strong alliances within the community, and evolve with the mission as it evolves.
A customized collection of grant news from foundations and the federal government from around the Web.
Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.