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5.2 Funding Sources
There are two main types of corporate grantmakers. The first type are company-sponsored foundations and private foundations whose assets are derived primarily from the contributions of a for-profit business. Although corporate grantmakers may maintain close ties with the parent company, they are independent organizations with their own endowments. The second type are corporate-giving programs—programs established and administered within a for-profit business organization. Some companies make charitable contributions through both a corporate-giving program and a company-sponsored foundation. Conversion Foundations Conversion of
traditional nonprofit hospital and health facilities to for-profit
status has had a substantial impact on the health care field and
on philanthropy. Dental insurance companies (e.g., Delta Dental)
or managed
health care companies (e.g., Anthem Blue Cross and Blue Shield of
Ohio) may be required by their charters or by federal or state law
to donate
a portion of their revenues to charitable or public service types
of projects. A number of these new “conversion” foundations
are now among the largest U.S. philanthropies. The HealthPath
Foundation of Ohio is an
example of an Ohio conversion foundation that has used its revenue
to support health care for economically disadvantaged Ohio citizens
with an emphasis on preventive oral care and family violence prevention. |
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