The Health Foundation of Central Mass

77 Nearly all healthcare conversion foundations across the country were converted from health plans or hospitals to 501(c)(3) private foundations. However, when The Health Foundation of Central Massachusetts was created from the conversion of Central Mass Health Care, Inc., it intentionally sought to retain the health plan's tax exempt status as a 501(c)(4) social welfare organization in order to retain the capacity to lobby. The Health Foundation's ability to advocate and lobby has been strategically woven into its grantmaking, most notably through the Synergy Initiative where advocacy plays a key role in ensuring the long-term sustainability of projects. B ecause contributions to 501(c)(4) organizations are not tax-deductible for donors, e Health Foundation created e Health Foundation Fund, Inc. (the Fund) in 2000 as a 501(c)(3) fund- raising affiliate to support the purpose and mission of e Health Foundation through donations, memorial contributions and gis of life insurance that would be con- sidered tax-deductible. As the sole member of the Fund, e Health Foundation's Board elects the Fund's Board, and e Health Founda- tion's officers and president automatically serve in those same positions for the Fund. Aside from restricted funds and fiscal sponsorships, funds held by the Fund are generally transferred to e Health Foun- dation for use in grantmaking. As of December 31, 2023, the total net assets held by the Fund were over $335,000. n FISCAL SPONSORSHIP A fiscal sponsorship is a financial and legal arrangement in which a nonprofit organization (the fiscal sponsor) offers/extends its tax- exempt 501(c)(3) status to another project or group, engaged in activities related to the sponsor organization's mission. is allows the sponsored project to receive grants and donations that are tax-deductible to donors without having to establish, or while waiting for, its own 501(c)(3) status. is arrangement is oen used by emerging initiatives or smaller projects. e fund has served as fiscal sponsor for the following initiatives: Worcester Homecoming (2020) is fund was established for Worcester Homecoming, a broad-based community-building coalition of Worcester-area organizations and residents working together to further Worcester's Renaissance by bringing expats back to Worcester for an event designed to highlight Worcester's dynamic growth and rich diversity and to stimulate investment in opportunities for new and expanding businesses, housing development, recreational and cultural venues. Landlord-Tenant Guarantee Program (2019) is fund was established by the City of Worcester in partnership with MassLandlords, Inc. and Central Massachusetts Housing Alliance to reduce the perception and potential risk for private property owners and eliminate housing barriers on rental applications for the single adult chronic homeless. Common Pathways (2003-2007) is fund was established for Common Pathways, a community coalition of Worcester-area organizations and residents working together to improve the quality of life for Worcester, Leicester, Paxton, Holden, West Boylston, Boylston, Shrewsbury, Graon, Millbury, and Auburn. e coalition evolved into what is now the Coalition for a Healthy Greater Worcester (CHNA 8).

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