CFL Impact Capital Invests in Volunteers of America
While the impacts of opioid addiction plague communities across the country, demand for affordable addiction treatment services continues to exceed the supply. So when Volunteers of America announced plans to expand its recovery services, CFL Impact Capital was eager to learn how it could help support.
Volunteers of America’s Freedom House program offers residential addiction treatment for pregnant and parenting women, and since 1993 has contributed to the birth of 140 healthy babies. It takes a holistic approach to addiction recovery, and addresses root causes of addiction in clients while tackling overlapping issues of poverty, homelessness and intimate partner violence. The program has proven to be cost-effective as well. The cost of babies born with Neonatal Abstinence Syndrome (NAS) – which is common for moms who use drugs while pregnant – averages $93,000. And these babies are more likely to face medical complications and developmental delays. With 30 babies born healthy in the first year of the new Freedom House, VOA estimates the program will save $2.8 million in health care costs.
CFL Impact Capital is proud to extend a $300,000 loan to Volunteers of America, helping to turn multi-year capital campaign pledges into cash that can be used immediately for renovations and start-up costs. Offering 16 additional residential treatment beds, the program will serve 48 women and newborns and 180 children per year. The facility’s outpatient services that will reach an additional 1,000 individuals each year and in total, the new facility is expected to serve 1,228 individuals annually.
This is CFL Impact Capital’s seventh impact investment and we extend to our donors the opportunity to help individuals and families overcome addiction. Donors may make a gift to the Foundation or use money in their existing Donor Advised Fund or Charitable Checking Fund with a minimum investment of $10,000. Donors have 30 days to join this particular investment opportunity.