Are there good examples of current NTA projects relevant to the field of health philanthropy?
- The number of community development initiatives related to healthy housing and environments is growing. For example, the Healthy Futures Fund finances affordable housing and health care programs through Low Income Housing Tax Credits and New Markets Tax Credits. The fund is seeded with $100 million in equity, loans and grants and is a partnership between Local Initiatives Support Corporation, Morgan Stanley, and the The Kresge Foundation. Learn more here.
- In 2011, The Robert Wood Johnson Foundation (RWJF) launched a three-year, $100 million capital impact fund that is designed to help the foundation and its grantees leverage funding from multiple sources. In conjunction with NCB Capital Impact, $10 million of these funds were recently allocated toward financing Green House homes, a community-based care facility. Learn more here.
- The Low Income Investment Fund (LIIF) is a CDFI that provides capital solutions to low income communities. The organization acts as an intermediary in a wide range of health-related projects across the country from investing in housing, to child care facilities, to health clinics and healthy food markets. The fund recently released its Social Impact Calculator, a tool that calculates the impact of these investments.
- Within the larger umbrella of health philanthropy, the California HealthCare Foundation utilizes its $10 million Health Innovation Fund to improve access to efficient and affordable health care for underserved populations in California. The fund is managed by the foundation’s Innovations for the Underserved Program and invests in early-stage health care technology and service companies at levels from $250,000 to about $1 million. The investment criteria require that companies demonstrate a significant impact by improving health access to more than 100,000 Californians and/or achieving more than $25 million in annual cost savings for the state’s health care system. Learn more here.
- The W.K. Kellogg Foundation has committed $100 million to its Mission Driven Investments (MDI) program to expand beyond traditional grantmaking. The program invests using cash deposits, fixed income, and private equity in the areas of education, health, financial security, community and civic engagement, and racial equity. For example, within its health portfolio, the program invests in SeeChange Health, a health insurance company focused on health prevention – rather than treatment – by offering financial rewards to members for taking specific preventative health actions. More information is available here.