Program Related Investments from Healthcare Georgia Foundation
Following a year of CDFI capacity building, self-study and preparation for impact investing, in 2019, Healthcare Georgia Foundation announced its first five-year Program Related Investment to Community Health Center Capital Fund – a nationally focused Community Development Financial Institution (CDFI) to provide low-cost, fixed rate, five to seven-year term loans to Georgia’s Federally Qualified Health Centers (FQHCs). This investment opportunity allowed the Foundation to explore new pathways in which to address the social determinants of health, and to pursue additional avenues towards achieving health equity for all. Based on the success and momentum gained from this venture, the Foundation continued working to identify new and exciting additional investments of this nature.
In May 2021, Healthcare Georgia Foundation completed a new round of Strategic Health Impact Investment funding that continues this pursuit of addressing “the causes of the causes” in regard to the social determinants of health and with a deeper engagement in impact investments with a health equity lens. With these recent investment opportunities, the Foundation distributed funds to the Atlanta Neighborhood Development Partnership Loan Fund, Carver State Bank, and Access to Capital for Entrepreneurs (ACE Loans). These awards propelled the Foundation to exceed $1.1 million in Strategic Health Impact Investments to date.
As we look to the future, the Foundation is thrilled to continue to build upon these opportunities, and to explore new ways in which the social determinants of health can be addressed through innovative funding strategies. The abundance of creative opportunities in terms of funding has reached new heights, and the future looks brighter each day as we continue to serve our communities. “In our pursuit of health equity for all Georgians, we must find new ways to align our mission with funding and financing strategies,” said Gary Nelson, President.
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ISSUE NUMBER 2 / OCTOBER 2021