Utah institutions unite to launch Gail Miller Utah Impact Fund

The philanthropy arms of three Utah institutions have partnered to launch the Gail Miller Utah Impact Fund — a first-of-its-kind initiative designed to create meaningful impact and expand opportunity across the state. 

The Larry H. & Gail Miller Family Foundation, Zions Bank and Intermountain Health said the impact fund “was created in honor of Gail Miller’s legacy of driving meaningful change and uplifting communities across Utah.” The fund will blend philanthropic dollars with investment capital to launch projects that may not otherwise receive funding. It will be “powered by partnerships, rooted in place-based giving and focused on initiatives that build for future generations — not just for today.”

“At Intermountain Health, we believe thriving communities are built through collaboration, trust and targeted investment,” said Sue Robel, Intermountain Health region president. “We’re proud to join forces with organizations who share a deep commitment to strengthening Utah’s communities.”

Initial funding of $25 million in philanthropic seed money will be provided by the Miller Family Foundation. The foundation’s first $5 million of the $25 million will be given directly to Salt Lake City to support the priorities and projects identified in the initial phase of the Ballpark Next project and the Ballpark Neighborhood.

The fund aims to secure $50 million in philanthropic funding which helps unlock and de-risk an additional $150 million to $200 million in traditional investment capital. By combining these two types of capital, the fund can support projects that might not traditionally receive funding through philanthropy or investment capital alone. The new fund’s leaders encourage other philanthropic donors, investors, entrepreneurs and community leaders to join the effort in order to generate opportunities across Utah to create impact for future generations.

Taking inspiration from innovative efforts like the GroundBreak Coalition in Minneapolis and Benefit Chicago, this fund will take a place-based approach to investing — but unlike those models, it will be the first of its kind to deploy capital statewide. From providing matching grants that expand volunteer service programs to helping public landowners engage in strategic asset planning, the fund is designed to spark change in communities where the potential for greatness already exists.

“Combining philanthropic resources with investment capital allows us to approach community challenges with both heart and strategy,” said Paul Burdiss, president and CEO of Zions Bank. “This kind of blended funding model gives promising ideas the momentum they need to scale, and ensures that the impact is both meaningful and enduring.”

The fund is open to a range of entities — including counties, municipalities, universities and nonpartisan interlocal government cooperatives — that are working to improve quality of life and strengthen the people they serve, a statement from the new fund said. Priority will be given to organizations supporting rural areas, marginalized populations and efforts to reduce significant disparities in health equity.

“This fund is about helping communities realize their own potential,” said Don Stirling, executive director of the Miller Family Foundation. “With philanthropic dollars attracting traditional investment capital — guided by local vision and leadership — we can cultivate change and thriving communities that will endure for generations. We invite others — businesses, organizations and individuals — to join us in enhancing neighborhoods and strengthening individuals across Utah to build a stronger, brighter future.”

Businesses can find information about joining the fund’s efforts at https://www.lhm.com/impact-fund/.