5 imperatives to consider when starting a health conversion foundation

credit: Our Midland

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.

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