Gail Miller Utah Impact Fund

The Gail Miller Utah Impact Fund (GMUIF) is a first-of-its-kind, statewide initiative designed to improve the well-being of Utahns by addressing the social determinants of health. Established by three trusted and influential founding partners — the Larry H. & Gail Miller Family Foundation, Intermountain Health, and Zions Bank — the Fund serves as a catalyst for unlocking philanthropic and impact capital, bold ideas, and collective greatness.

The fund was launched through a partnership between:

1) The Larry H. & Gail Miller Family Foundation
2) Intermountain Health
3) Zions Bank

These three institutions bring unique strengths — philanthropy, finance, and healthcare — together to drive systemic change.

The fund honors Gail Miller’s legacy of uplifting communities and builds on the long-time efforts of all of the founding partners to improve the health and well-being of their communities. It was inspired by successful national models like GroundBreak Coalition (Minneapolis) and Benefit Chicago, but is the first statewide effort of its kind in Utah that uses philanthropic dollars to unlock other forms of capital.

Philanthropic contributions made to the fund will be used as a guarantee pool to help attract mission-aligned investors that intend to address the social determinants of health in Utah. The fund will seek to create at least one, and perhaps several, investment vehicles that will be purpose-built to invest in certain types of projects.  These projects will address issues related to housing affordability, economic development, financial inclusion, food security, education, and other issues that are intended to support the long-term well-being of communities, particularly for low- and moderate-income beneficiaries. This fund will support projects that require below-market rate investments to complete, prioritizing both impact and financial return. The fund will seek to create significant impact beyond the value of philanthropic contributions, as shown below: 

• Seed funding: Initial funding of $25 million in philanthropic seed money will be provided by the Larry H. & Gail Miller Family Foundation. The Miller Family 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 process and the Ballpark Neighborhood. 
• Philanthropic goal: $50 million in charitable commitments. 
• Leverage effect: These philanthropic funds will unlock an additional $150–$200 million in investment capital. 
• Total potential impact: Up to $250 million for underserved Utah communities. 

Philanthropic capital is critical because it can take on early risk (“first-loss”) that traditional investors and public dollars often cannot. This base of flexible, values-driven funding provides the confidence and security needed to attract return-seeking investors. By de-risking projects up front, philanthropy helps unlock much larger pools of private and institutional capital—making bold, community-led initiatives possible at scale.

The Community Foundation of Utah will serve as the custodian of the philanthropic funds. As a trusted statewide partner with deep expertise in managing charitable capital, the Community Foundation of Utah provides transparency, fiduciary stewardship, and community-rooted leadership. Partnering with the Community Foundation of Utah to custody the Gail Miller Utah Impact Fund ensures strong governance, accountability, and alignment with Utah’s diverse nonprofit and civic ecosystem.

The fund will prioritize place-based initiatives throughout the state that strengthen the social determinants of health, such as:

• Affordable housing and neighborhood revitalization
• Grocery stores in neighborhoods that are considered to be in a “food desert”
• Job creation and small business growth
• Childcare and education access
• Behavioral and physical health initiatives

Projects will be sourced statewide from urban and rural communities. The fund will seek to primarily support projects that traditional, market-rate sources of capital would not be able to support.

The goal is to create lasting, generational change — helping Utahns not just today but for decades to come. By pooling philanthropic and traditional investment resources, the fund aims to multiply impact, build stronger communities, and unlock the greatness and generosity already present across Utah.

The Gail Miller Utah Impact Fund was announced in October 2025 and is ready to receive philanthropic contributions. Subsequent investment funds that will lever up philanthropic contributions made to the fund will be created over the next 12-24 months.

To get involved, please contact us via the “Get in Touch” form on the website.