Elevance Health Foundation announced a $150 million whole-health commitment to grantmaking, impact investing and community engagement in under-resourced communities over five years. The philanthropic arm of Elevance Health, formerly Anthem Inc., was rebranded in 2022 as part of a strategic focus shift beyond traditional health insurance.
Part of the new commitment is a $10 million partnership with San Diego-based impact investor Mission Driven Finance, which will provide a $300,000 low-interest loan to Psyched Services for personalized mental health services in California schools. The loan “is crucial in advancing and expanding our mental health initiatives, which will enable us to provide critical support to underserved students, caregivers and educators throughout California,” said Psyched’s Kristyn Corley.
Psyched, based in California, has a team of psychologists that provide online one-on-one counseling, group therapy and specialized mental health for adolescents and the adults supporting them. Psyched serves 380 schools through partnerships with school districts in California, including in San Mateo, Palo Alto, Redwood City and Oakland.
Impact lending
Elevance Health Foundation formed the partnership with Mission Driven Finance last year to drive social impact beyond grantmaking. Through the partnership, MDF provides loans ranging from $100,000 to $500,000 with below-market interest rates.
“Through impact investing, we are able to collaborate with small businesses and social enterprises such as Psyched Services to support our communities and enhance the health and well-being of Californians,” said Anthem Blue Cross Plan’s Beth Andersen.
Elevance Health is focused on maternal and infant health, food as medicine, behavioral health and other community health issues.
