Who We Are
What is a Public Conversion Foundation?
What is a Conversion or “New” Foundation?
In the past several decades, conversions of traditional nonprofit hospitals 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, over 200 other foundations of this type have been created representing over $18.3 billion, a considerable shift in the Country’s charitable dollars.
While the majority of health conversion foundations were established during the 1980s and 90s, their numbers continue to grow as more and more nonprofit hospitals 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.
What is a Public Foundation?
A public foundation is a tax-exempt public charity that works to improve the quality of life in a specific region and beyond through grantmaking, programmatic work and the creation of charitable funds by individuals, families, businesses, and organizations.
What does a public foundation do?
A public foundation receives charitable gifts, manages charitable assets and makes charitable grants. Public foundations oversee several types of funds to achieve charitable goals and meet community needs.
Why do people give through public foundations?
Public foundations provide investment expertise, grantmaking expertise and are set up for perpetuity to protect donor wishes. The foundation can assist donors in assuring return and oversight of their charitable contribution.
Our Expertise in Philanthropy
The Texoma Health Foundation Board and staff are actively connected to community needs through grants and giving applications, grantee evaluations, community forums, state networks and extensive research.
THF performs a thorough evaluation and request for proposal process every three years for investment services to assure high quality and the best cost for services. This rate and high quality team is passed on to donors.
THF’s Grants and Giving Committee and administrative team provide grants management oversight, objective review, non-profit assessment and evaluation to assure impact and smart investments in projects year-to-year.