Issue link: https://nebusinessmedia.uberflip.com/i/1526507
9 dation was not officially launched until several years later. For three years, legal issues delayed the final sign-off. Since the nonprofit CMHC was sold to a for-prof- it organization, the proceeds had to be placed in a trust and supervised by the court. "ere was a period where we almost gave up," said Dr. Glazier. "Some commu- nity representatives suggested we give the money to the Greater Worcester Com- munity Foundation, but we felt strongly that we needed a foundation dedicated to health. We stuck to it and ultimately in 1999 received approval from the commu- nity, stakeholders, and attorney general's office." "It was our responsibility to make sure that charitable proceeds were used appropriately," he continued. "ere was a lot of discussion between the CMHC board, community representatives, and the attorney general's office on how to handle the funds." e process, while intense, resulted in a precedent-setting resolution. Johanna So- ris, assistant attorney general in the state's Public Charities Division at the time, later reflected on her experience with the launch of e Health Foundation and how it was a highlight of her career to have been involved in the process as an outsider and regulator welcomed to the table. e Worcester Probate Court approved the plan that created e Health Foun- dation on October 29, 1998. During the previous three years, the proceeds of CMHC's sale – $45 million to $50 million – had been held in escrow by CMC, the new entity. e Health Foundation would now use those funds to make health-re- lated grants for vulnerable populations in Central Massachusetts. e court also granted per- mission to begin a search for an executive director. During this transition phase, Dr. Glazier served as chair of e Health Foun- dation's Board of Directors. "We needed to start from scratch and develop an organization to deal with $40 plus million in assets," he said. The purposes of CMHC were five-fold: 1. To assure provision and availability of quality health care in an effective, efficient, and economical manner; 2. To further the interest of patients, the public, health care practitioners, and other providers of health care services with the area served; 3. To encourage, implement, and operate diverse methods of health care delivery, including a Health Maintenance Organization and to foster preventative care; 4. To preserve and maintain freedom of choice for both physician and patient; and 5. To provide humanistic education and supportive functions for physicians and dentists, as long as such function would be exclusively for scientific, charitable, or educational purposes. The Central Massachusetts Health Care Board of Trustees CMHC sale is complete Health Foundation to receive $46.5M "By agreeing to sell this plan and turn over the proceeds to the foundation, they leave a legacy that will benefit this community forever." John Powell, president and CEO, Healthsource CMHC Worcester Telegram & Gazette, February 10, 1996