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HNH Foundation
The HNH Foundation formed in 1997 when New Hampshire converted its nonprofit Blue Cross/Blue Shield plan, merging it with Matthew Thornton Health Plan and...
HNH Foundation
The HNH Foundation formed in 1997 when New Hampshire converted its nonprofit Blue Cross/Blue Shield plan, merging it with Matthew Thornton Health Plan and requiring the resulting assets to serve a charitable health mission. Gail Garceau, a former CEO of Heritage United Way, leads the foundation as president. The board includes investment professionals from UBS Financial Services and Nathan Wechsler & Company, who manage the foundation's endowment through individual securities and annuity contracts. Grants focus narrowly on New Hampshire children up to age five, funding early childhood health, oral health, and nutrition programs. The foundation works through the New Hampshire Funder Collaborative, partnering with the Endowment for Health and the New Hampshire Charitable Foundation on shared initiatives. Grantmaking typically ranges from small community awards to multi-year program grants for statewide early-intervention efforts. The foundation maintains a modest operating footprint from a suite in Concord's historic downtown. It belongs to PEAK Grantmaking and the New Hampshire Center for Nonprofits, using those networks for professional development and collaborative program design. The board's investment committee handles portfolio construction internally rather than outsourcing to a chief investment officer or OCIO, drawing on board members' financial planning expertise. Unlike community foundations that pool donor-advised funds, HNH Foundation is a conversion foundation — a single-purpose endowment carved from a nonprofit insurance transaction. That regulatory origin constrains its geography to New Hampshire and its mission to children's health, creating a structure that cannot drift toward broader philanthropy over time.
General information
Firm type
Foundation
Year founded
1997
Location
Region
North America
Country
United States
City
Concord
Corporate office
49 South Main Street, Suite 204, Concord, NH 03301, United States
Principals
Gail Garceau
President
Alisa Druzba
Chair
Sector focus
Frequently asked questions
Who runs investment decisions at HNH Foundation?
The board's investment committee handles portfolio management directly, drawing on the financial expertise of members like Matthew Dodge, a Certified Financial Planner at UBS, and James Mitkonis, a CPA at Nathan Wechsler & Company. The foundation does not employ a dedicated chief investment officer or outsource to an OCIO, maintaining a lean operational structure consistent with its focused mission.
What is the foundation's origin and why does it only fund New Hampshire programs?
HNH Foundation was created from the 1997 merger of the state's nonprofit Blue Cross/Blue Shield plan and Matthew Thornton Health Plan. The conversion terms required the assets to serve a charitable health mission within the state that generated them, legally binding the foundation to New Hampshire for its life.
How does HNH Foundation's structure differ from a community foundation?
Community foundations aggregate donor-advised funds and serve broad geographic constituencies. HNH Foundation is a conversion foundation — a single-purpose endowment formed from a nonprofit insurance transaction — with a legally fixed geography and mission that cannot shift over time.
What investment stages or types does HNH Foundation target?
As a grantmaking foundation, HNH Foundation does not make program-related investments or impact investments in for-profit ventures. Its endowment portfolio consists of individual stocks, bonds, and annuity contracts, structured to provide steady funding for grants rather than to pursue venture-style returns.
Which organizations does HNH Foundation co-invest with on grant programs?
The foundation participates in the New Hampshire Funder Collaborative alongside the Endowment for Health and the New Hampshire Charitable Foundation, jointly funding early childhood health initiatives. These partnerships allow the small foundation to leverage larger organizations' grantmaking infrastructure and evaluation capacity.
What sectors does HNH Foundation explicitly avoid?
The foundation does not fund clinical care delivery, hospital operations, or direct medical services. Its mandate centers on prevention, early intervention, and systemic change for children up to age five — upstream work rather than treatment.
Does HNH Foundation maintain any operating businesses or real estate beyond its endowment?
The foundation owns its office condominium at 49 South Main Street in Concord as a commercial asset within its investment portfolio, but does not operate any businesses or hold real estate beyond that single property and its securities portfolio.
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