Business Stats
U.S. hospitals and universities combined spend over $1 trillion a year, have endowments in excess of $800 billion, and employ 8% of the labor force.
Over the last two decades, anchor institutions (hospitals, universities, etc.) have become vested in the vitality of surrounding communities, which in many cases include impoverished neighborhoods. But institutions as a whole rarely measure the impact made on the welfare of low-income families and communities. To help establish common ground, find collective impact areas and develop measurement potential for both the institution and the community, 75 interviews were conducted with institution, nonprofit, government and community leaders. The findings and implications of this study comprise this report.
Senior leaders play a critical role in any anchor institution strategy, but other internal and external influences -- such as government incentives, institution mission, community engagement -- also are key factors.