Eventually,100% of each donation or grant will go to support programs, not overhead.
We're launching a healthcare movement
The Global Telehealth Network (GTN) is a nonprofit organization founded by volunteer physicians and other health professionals who believe that health care is a human right and that no one should be denied access to care because of location or ability to pay.
We’re launching a movement to reduce health disparities – in the U.S. and throughout the world – through the combination of volunteerism and modern technology.
Our goal is to help create a level playing field, working with other organizations to help millions of people resolve or prevent health issues that shorten their lives, cause tremendous suffering, reduce their productivity and prevent them from advancing up the economic ladder.
Fortunately, healthcare is not a zero-sum game! We can provide care for the poor without taking anything away from those who are better off financially.
Tandem business model
We’re developing a family of allied companies that, in addition to the nonprofit Global Telehealth Network, includes two for-profit corporations.
Our “tandem” business model offers the best of both worlds, allowing all three companies to work for mutual benefit and for the Common Good.
The nonprofit organization
The Global Telehealth Network is dedicated to providing care at low or no cost for individuals and families in medically underserved areas who can’t pay much – if anything – for health care services.
As such, GTN must be a nonprofit organization, especially since our physicians volunteer their time and expertise.
Another benefit of being a nonprofit organization is the eligibility to seek charitable contributions from individuals and from other donors such as corporations, family offices and foundations. Also, once we’ve established a “track record,” we anticipate attracting the attention of major foundations and government agencies. By that time, we’ll have developed convincing evidence of efficacy, with a solid plan for rapidly scaling to truly global proportions.
However, it’s increasingly difficult to assure sustainability from donations and grants unless there is also an earned revenue stream, hence the importance of a close association with our for-profit partners.
The for-profit companies
Both of our for-profit entities are being structured as California Benefit Corporations.
This is a relatively new corporate form specifically designed for social enterprises, and it has legally defined goals that include not only profit, but also positive impact on society, workers, the community and the environment.
Some activities can be better accomplished through nonprofit organizations, while others are more readily accomplished by Benefit Corporations and other for-profit entities.
Each of our for-profit startups will be funded initially by equity investment, then grown and sustained through revenues generated in multiple large addressable markets.
We expect both for-profit companies to provide a fair return on investment (ROI) for their shareholders, but unlike traditional stock-issuing corporations, the interest of shareholders is not their only legal commitment.
We anticipate that both of these companies will be very attractive to impact investors, who seek to generate social and environmental impact alongside a financial return.
The Triple Bottom Line
In addition to profits, Benefit Corporations are obligated to pursue objectives that benefit society, the corporation’s employees and the environment (a.k.a. the “triple bottom line” of people, planet and profits).
Our two Benefit Corporations are also committed to providing a share of their revenues to the nonprofit GTN for services provided to them by GTN, as well as through licensing agreements for intellectual property developed initially by the nonprofit.
Each of our two for-profit Benefit Corporations is being established with a structure and culture designed to meet the criteria for certification as a "B Corp," which must “meet the highest standards of verified social and environmental performance, public transparency, and legal accountability, and aspire to use the power of markets to solve social and environmental problems.”
Companies currently certified as B Corps include Ben & Jerry’s ice cream, Patagonia outdoor apparel, New Belgium Brewing Company, Danone North America (Dannon yogurt) and more than 2,500 other companies in over 50 countries.
In addition to meeting the B Corp criteria while providing a fair return on investment for the shareholders, our for-profit companies will provide long-term support to assure sustainability of our nonprofit organization’s efforts to provide care for the underserved and underprivileged.
We believe that people who lead nonprofit organizations and create great value in advancing the Common Good should not be required to make substantial financial sacrifices. We anticipate that revenue streams from the for-profit partners will allow our nonprofit organization to offer competitive salaries that can attract the best and brightest executives and employees.
Our goal is for the revenue streams from the for-profit entities to cover all of the salaries and overhead for the nonprofit Global Telehealth Network so that it can soon demonstrate to funders that not only is the organization sustainable, but that 100% of each donation or grant will go to support programs – not to overhead.