In the past several decades, conversions of traditional nonprofit hospitals and health organizations to for-profit enterprises have had a substantial impact on the field of health philanthropy. Since Federal law requires that proceeds from the sale of assets of tax-exempt entities be directed towards charitable purposes, one result of these conversions has been the creation of a number of new foundations, commonly referred to as "new health foundations" or "health conversion foundations".
Since 1973, when the first health conversion foundation was established, nearly 200 other foundations of this type have been created. While the majority of health conversion foundations were established during the 1980s and 90s, their numbers continue to grow as more and more hospitals and health organizations make the transition to for-profit status.
While most health conversion foundations are dedicated to increasing access to health care, they typically have adopted a broad definition of health and sometimes support much wider community purposes. As a result, these foundations have rapidly become a major source of funding not just for nonprofit health organizations, but for broader community-based organizations as well.
To find health conversion foundations, use our database of U.S. grantmakers, Foundation Directory Online, and search by keyword for the phrase "health conversion foundation". Please note that since health conversion foundations are not categorized separately from other grantmakers by the IRS, this listing may not be definitive. For a comprehensive search of all health conversion foundations, we recommend referring to other sources as well, including those listed below.
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