Non-Profit forms Innovative Partnership with Qualified Opportunity Fund
This ancillary joint venture will use capital generated from a tax incentive created by the 2017 TCJA to facilitate the expansion and availability of essential healthcare facilities, providers, and technology to medically underserved rural areas.
By: Hybrid Fund, LLC
"This strategic partnership will be the first of its kind and it will hopefully be a blueprint for other non-profits to access capital in the future," said Hybrid Fund, LLC spokesperson, Liz Marks.
Due to the organic alignment of each entity's pre-existing mission, there is a very high likelihood that this will be a mutually beneficial strategic partnership. Hybrid Fund, LLC provides financing to build rural healthcare facilities, and Spring Water Rural Healthcare Foundation uses its network of volunteers to construct the facilities as well as recruiting the health care professionals needed to operate the facilities.
"Both organizations will complement each other by achieving their new shared goal of reshaping healthcare delivery and availability in rural medically underserved areas," said S.E. Holden, spokesman for Spring Water Rural Healthcare Foundation.
The strategic partnership will benefit the health and well-being of almost 70% of Opportunity Zone residents living in census tracts that are currently classified as "severely distressed" according to the Economic Innovation Group.
Hybrid Fund, LLC