At February's Denver Anchor Network Town Hall, Mikelle Moore, Senior VP & Chief Community Health Officer and Nick Fritz, Impact Investing Director described Intermountain’s journey to activate an impact investment strategy to positively address social determinants of health (SDOH). Within SDOH, Intermountain chose to specifically focus on impacting Housing Instability and Income & Employment.
Within the housing realm Intermountain has focused on providing investment funds and direct loans to affordable housing developers and service providers for the preservation and new construction of affordable housing that includes supportive services.
Their investments to strengthen income and employment focus on debt and equity investments with CDFIs and CDCs that focus on financial inclusion – increasing the availability of financial products for low and moderate income communities and economic development – specifically projects that support job creation in low and moderate income communities.
Since launching their Impact Investment strategy in 2019, Intermountain has deployed $31 million out of the $51 million committed. Impacts to date include 1,058 units of affordable housing preserved or created and 291 people have gained access to financial products. They also shared an overview of what it took to generate institutional buy-in and the committee structure that supports the work, as well as how they measure financial and social return on investment.
We are excited that Intermountain Health will soon have a presence in Denver, as their merger with SCL Health is slated for April. They, in turn, are looking forward to joining our community of committed anchor institution partners. Below are the video of the session and the slides that Mikelle and Nick shared.
Comments