New York State Health Foundation

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NYSHealth’s First Economic Recovery Fund

2009 ushered in an economic recession that adversely affected every state in America. As the home of the financial services industry, New York State continues to be hit especially hard by the decline.

The recession also caused a rise in demand for nonprofit services during a time when institutional philanthropic support diminished as a result of reductions in endowments. In the past year, many foundations that were connected to financial institutions have either ceased funding or reduced their funding commitments. With reduced philanthropic resources, government contract cuts, and a decrease in individual giving, nonprofits experienced difficulty financing core projects and expanding new ones.

In response to this time of increased need, NYSHealth developed an Economic Recovery Fund to assist New York State’s nonprofit health sector during the economic crisis. NYSHealth allocated $2.3 million in grant funding to facilitate organizations’ transition to new and reorganized forms (mergers, partnerships, and internal restructurings) that will be more sustainable over time. Through its 2009 Economic Recovery Request for Proposals, NYSHealth funded the following nine projects to promote fundamental, lasting changes in organizations that comprise New York’s health services delivery system: