Pueblo Accion Event with Ben

Pictured Above: Kristine Michie (DreamSpring), Mark Hall (Vectra Bank), Ben L. Bynum, M.D. (CHF), Chris Smith (CHF), Pete Gombert (indieDwell). Colorado’s first Bridge & Bond event held by grantee and PRI recipient DreamSpring. DreamSpring's Bridge and Bond events, like the one above executed in partnership with NeighborWorks Southern Colorado, are held in Pueblo and other communities to help drive economic development through entrepreneurship, mentorship and business coaching.

We make program-related investments (PRIs) that show promise and create partnerships that strive to achieve health equity and bring health in reach for all Coloradans.

The Foundation's PRIs are offered to nonprofits or private sector companies to support charitable or mission-related activities with financial returns that are below market. We undertake these investments with the goals that they:

  • Scale Innovative Solutions
  • Leverage Additional Financial Resources
  • Assist Borrowers to Address Inequities

PRIs are best used to provide capital to organizations that have a business or revenue model to finance, sustain and grow their initiatives. PRIs can help organizations attract new financing from other investors or build a credit record to qualify for commercial financing. 

PRIs include financing structures commonly associated with banks or other private investors, such as loans, loan guarantees, linked deposits, social impact bonds, subordinated notes, recoverable grants and even equity investments in charitable organizations or commercial ventures for charitable purposes. Because PRI funding is eventually returned to the Foundation, the funds will be used again for new impactful opportunities.

The Foundation has developed over 50 partnerships and invested $90 million into the community through the PRI portfolio that includes both grants and other financing structures. 

Current PRIs

  • Center for Care Innovations – The Center for Care Innovations (CCI) transforms care for communities with the highest needs by inspiring, teaching and spreading innovation among the organizations that serve them. CCI provides evidence-based programming, training, technical assistance and grants to safety net providers, including Federally Qualified Health Centers, behavioral health clinics and critical access hospitals. A $2 million grant from the Foundation will establish the Colorado Innovation Community, a new statewide, CCI-led peer-learning collaborative to support the innovation capabilities of Colorado’s safety net providers. Read more.

  • Chaffee Housing Trust – The Chaffee Housing Trust is a nonprofit that aims to provide affordable homeownership and rental opportunities to individuals and families in Chaffee County. Through a $700,000 investment by the Foundation, the Chaffee Housing Trust will scale a community land trust model and launch a flexible mortgage lending program for prospective homeowners with low income. A separate $300,000 grant was provided to support the staffing and operational needs of the organization. The Chaffee Housing Trust’s first community land trust projects to offer affordable housing are currently underway in the towns of Buena Vista and Salida.

  • Colorado Access – Colorado Access is a local, nonprofit health plan that serves more than one million members across our state. It provides access to care for individuals, families and children who receive their health care under Child Health Plan Plus (CHP+) and Health First Colorado (Colorado's Medicaid Program). The Foundation provided Colorado Access with a $2 million subordinated loan to help this regulated insurer meet its mandatory financial reserve requirements.

  • Colorado Coalition for the Homeless – The Colorado Coalition for the Homeless works to prevent homelessness and create lasting solutions for families, children and individuals experiencing, or at-risk of experiencing, homelessness. A Foundation investment of $2 million will expand the Supportive Housing Development Fund to help the Coalition achieve its strategic goal of creating 500 new units of housing over the next five years. 

  • Colorado Housing and Finance Authority’s Healthy Housing Fund – Colorado Housing and Finance Authority (CHFA) invests in affordable housing and community development. A $7 million investment by the Foundation into CHFA’s Healthy Housing Fund will help to finance healthy living features incorporated into affordable multi-family properties in Colorado. Read more.

  • Denver Health – Denver Health is an integrated health care system that serves as one of Colorado’s primary safety net institutions. The Foundation's capital investment of $1.5 million will support the construction of a new Denver Health primary care clinic in southwest Denver. As a result of this program-related investment, 23,000 additional safety net patients will be served through person-centered care.

  • Denver Social Impact Bond – A Foundation investment of $1 million will support the City of Denver’s Social Impact Bond (SIB) initiative to fund supportive housing for individuals experiencing chronic homelessness together with mental health and substance abuse challenges. The SIB initiative hopes to lessen the instances of costly and ineffective interactions between individuals and the police, jail, detox and emergency care systems. At least 250 people will be served by the initiative over five years using a Housing First approach and a modified Assertive Community Treatment model of intensive case management. Read more.

  • DreamSpring A nonprofit lending network, DreamSpring helps entrepreneurs generate income, build assets, create jobs and achieve financial success through business ownership. A $2.75 million investment by the Foundation will scale the organization’s Colorado-based lending activities, with a focus on promoting economic opportunity and improving health outcomes in rural communities and among entrepreneurs of color and/or those with low-to-moderate income. Read more.

  • indieDwell – indieDwell is a public benefit corporation (B Corp) with a social mission to provide healthy, durable and sustainable steel-framed modular housing. A Foundation planning grant of $250,000 will help indieDwell launch a Pueblo-based nonprofit focused on creating jobs with a livable wage, spurring economic development and increasing the supply of safe and affordable housing in the community through its innovative modular home construction model. With an additional $1.5 million investment from the Foundation, indieDwell-Colorado opened a 100,000 square foot modular home factory in Downtown Pueblo and is estimated to hire 175 entry level workers and build hundreds of units of affordable housing annually.

  • Mind Springs Health – Mind Springs Health operates 13 behavioral health facilities in Western Colorado, including West Springs Hospital, the only psychiatric hospital between Denver and Salt Lake City. A capital investment of $4.25 million will support the construction of a new West Springs Hospital facility in Grand Junction. This new project will double the number of bed spaces dedicated to acute psychiatric inpatient treatment and provide respite home/step down services for patients to avoid unnecessary hospital admissions.

  • myStrength – myStrength offers mobile and web-based resources and therapies to address conditions such as depression, anxiety, insomnia, substance use and stress with techniques like mindfulness and cognitive behavioral therapy. A seven-year, $1.5 million senior loan agreement by the Foundation allows the company to boost capacity in delivering their behavioral health e-platform to both public and commercial clients. This investment will help the company engage more patients, generate better mental health outcomes and reduce costs. Read more. UPDATE myStrength was acquired by the California-based biotechnology company Livongo in early 2019.

  • National Institute for Medical Assistant Advancement – The National Institute for Medical Assistant Advancement (NIMAA) educates and trains medical assistants (MAs) to strengthen the primary care workforce and meet a growing demand for MAs in Federally Qualified Health Centers and other clinical safety net settings. In addition to providing NIMAA with a $600,000 infrastructure grant to anchor their national model in Colorado, the Foundation investment $245,000 as growth capital to refine and expand its unique approach to educating and training MAs to join the primary care workforce in Colorado’s underserved communities.

  • NeighborWorks Southern Colorado – NeighborWorks Southern Colorado works to promote healthy, vibrant neighborhoods and serve as the first choice for homebuyer resources in Southern Colorado. The Foundation invested $1 million to catalyze the capitalization of a $10 million mortgage program for low-income homebuyers that will provide greater access to homeownership opportunities for low-income residents living in the city of Pueblo and surrounding areas.

  • NPX – NPX developed a new and innovation method to finance impact in the nonprofit sector by linking funding with impact so that donors only donate if and when impact is achieved. A Foundation investment of $1 million is part of a $10 million pool to create a Donor Impact Fund that will fund economic development initiatives in Colorado.

  • Prime Health Challenge – Founded in 2014, the Prime Health Challenge is a unique opportunity for early-stage digital health companies to connect with key Colorado health care leaders and stakeholders to test their products with interested organizations. Winning companies and host institutions work together to collectively test the efficacy of digital health products in the health care setting with the overall goal of advancing the Triple Aim—improving the patient experience; increasing access to care and clinical outcomes; and reducing costs. Over the past five years, the Foundation has invested $1.5 million in supporting the Prime Health Challenge in an effort to drive innovative solutions that address Colorado’s health challenges.

  • Recoverable Grants – In summer 2017, the Foundation approved $3.5 million in recoverable grants to be provided to seven Colorado nonprofits. These funds served as a bridge for Medicaid payment delays that various safety net providers were experiencing due to a change to the Colorado Department of Health Care Policy and Finance billing system. This investment allowed providers to continue to meet their ongoing obligations to staff, patients and vendors without reliance on costly borrowing from lenders or depleting their cash reserves.

  • Rocky Mountain MicroFinance Institute – The Rocky Mountain MicroFinance Institute (RMMFI) builds community wealth through strategic investments in underserved entrepreneurs.  RMMFI will use the Foundation’s $1 million investment to increase its impact in the justice involved space by working with persons currently and formerly incarcerated to become business owners and/or gainfully employed upon release.

  • STRIDE Community Health Center – Formerly known as Metro Community Provider Network, STRIDE Community Health Center is a Federally Qualified Health Center with 18 locations serving low-income, uninsured and underserved populations residing outside the City and County of Denver. A Foundation investment of $700,000 will assist STRIDE's clinics in their efforts to build a competent and committed workforce.

  • The Draper Richards Kaplan Foundation – The Draper Ricard Kaplan Foundation is a global venture philanthropy firm that support the early stage, high impact social enterprises. A $900,000 Foundation investment will support early stage social enterprises in Colorado that are tackling issues including: access to healthcare, early childhood development, food access and security, affordable housing, and teen and young adult resiliency and recovery. Read more.

  • Urban Land Conservancy – The Urban Land Conservancy is a nonprofit organization that invests in real estate for the long-term benefit of Colorado communities. A $2 million Foundation investment in the Denver Metro Impact Facility will help to create more attainable housing options for vulnerable residents and affordable office space for community-based organizations in low-income communities. Read more.

For more information, please email Ben L. Bynum, M.D., portfolio director of program related investments.

Prior PRIs