Place based investing is a growing field aiming to generate measurable social impact and a financial return.
At Intermountain Health, we have been committed to place-based investing for several years and have seen significant progress.
2023 was our biggest year in terms of capital committed to community projects. The chart below shows how funds were used in 2023 and accumulatively since 2019.
2023 Impact Summary
- Investments committed: $44,990,000
- Affordable housing units financed: 499
- People with improved financial wellness: 252
Portfolio Summary
- Committed since 2019: $111,264,743
- Affordable housing units financed: 2,056
- People with improved financial wellness: 939
In addition to our record capital commitments in the Canyons region, we made initial investments in the Desert and Peaks Regions in 2023.
We provided a low-cost loan to Safenest, a domestic violence service provider in Las Vegas, to purchase property that will double their capacity.
We provided a low-cost loan to Elevation Community Land Trust in Colorado, to purchase properties that will provide affordable homeownership to people earning less than 80% of the area median income.
We invested in a housing trust in Boise that will provide homeownership opportunities to low-income people.
We invested in the Rocky Mountain Homes Fund, which will provide down-payment assistance to essential professionals across our service area.
We also invested in the Perpetual Housing Fund, a program that provides renters wealth generation opportunities and we provided loans in Ogden and Park City to support the construction of affordable housing.
In 2024, we are leaning into investments in the Peaks Region, and are exploring several potential partnerships that will address the lack of access to affordable housing, financial inclusion, and wealth generation opportunities.