MISSOULA — The Montana Attorney General’s Office has approved the creation of one of the largest nonprofit foundations in the state’s history.
The Missoulian reports that Attorney General Tim Fox on Wednesday approved a plan by Community Medical Center for $74 million in charitable assets that resulted from the sale of a former nonprofit Missoula hospital to a for-profit partnership.
Montana law requires the proceeds of the sale of a nonprofit entity be put into a foundation that supports the core mission of the previous nonprofit.
The money will go to the Missoula Community Hospital Legacy Foundation, which will work to improve patient experience, reduce the per-capita cost of health care and improve health in the region.