CVS Foundation
CVS Foundation is a private foundation based in Woonsocket, an individual recipient Its community giving supports efforts to expand access to health care and improve health outcomes, alongside work addressing health-related social needs such as food insecurity, housing, education and workforce development.
CVS Foundation at a glance
In short: CVS Foundation gave $21.4M across 778 grants in 2024 (avg $28K), top state Virginia. 59% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $21,410,990
- +11.4% vs 2023
- Grants made (2024)
- 778
- -35.4% vs 2023
- Average grant
- $27,521
- +72.6% vs 2023
- Median grant
- $1,500
- Total assets
- $194,297,030
- -1.5% vs 2023
- New grantees (estimate)
- 59% first-time grantees (394 of 668, 2024)
- Primary geography
- Virginia (26% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to CVS Foundation
- Accepts unsolicited proposals
- No
- Invitation Only
-
The foundation does not accept unsolicited requests; support is by invitation or RFP only. The 2024 filing encourages applicants to apply through program officers or an RFP process. The website currently reports no open RFPs.
- Review Cycle
- Submission deadlines vary by grant type. The 2025 Hometown Fund cycle opened in March 2025; that cycle is past.
- Deadline
- Submission deadlines vary by grant type.
- Contact
Application contact: Jennifer Mccolloch
Mailing address: One Cvs Drive, Woonsocket, RI 02895
Phone: (401) 449-0319
Email: jennifer.mccolloch@cvshealth.com
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
6 open opportunities from CVS Foundation
Columbus Health Zones RFP Grant
CVS Foundation
Amount
Up to US $2,240,000
Deadline
Deadline not published
CVS Community Health Grants
CVS Foundation
Amount
Varies
Deadline
Deadline not published
Health Zones Program in Philadelphia, PA Grant
CVS Foundation
Amount
Up to US $2,250,000
Deadline
Deadline not published
Who CVS Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Charities Aid Foundation America ($4.1M across 17 grants). Together the top 10 received $12.8M.
Organizations only. It also paid 11 individual scholarships ($113,500), which are not listed by name.
Grant Size Distribution
4,920 grants across all recorded years
The most common grant size was under $50K: 4,708 grants of 4,920 (96%).
Geographic Focus
Where this funder awards grants
The foundation’s stated community investment strategy covers communities across the United States. In filing year 2024, the largest shares of grant dollars went to recipients in Virginia (26%), Massachusetts (19%), Connecticut (9%), an individual recipient (8%) and Arizona (7%).
The Hometown Fund supports local organizations in Greater Hartford and an individual recipient Its 2024 grantee list also included organizations in Connecticut, Massachusetts and an individual recipient
Grant Distribution by State
Share of 2024 grant dollars across all 778 itemized grants.
States
Cities
Is CVS Foundation open to new grantees?
59%
first-time grantees, 2024
In 2024, 394 of 668 grantees (59%) were first-time recipients. First grants averaged $35K; repeat grants $28K. How we count
Medians: $2K first-time, $2K repeat.
- 23% of 2024 grantees were also funded in 2023. Method
- Giving grew 105% from 2021 to 2024. Method
- In 2024 it paid out 222% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $7.1M (2020) to $21.4M (2024). In 2024 it made 778 grants totaling $21.4M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Boston Foundation Inc Boston, MA | Small Grant | $2,460,500 |
| United Negro College Fund Washington DC Boston, MA | Large Multi-Year Grant | $1,000,000 |
| American Lung Association Chicago, IL | Large Multi-Year Grant | $875,000 |
| March of Dimes Arlington VA Arlington, VA | Large Multi-Year Grant | $800,000 |
| Valleywise Health Foundation Phoenix, AZ | Small Grant | $700,000 |
| Valleywise Health Foundation Phoenix, AZ | Small Grant | $700,000 |
| Hispanic Health Council Inc Hartford, CT | Small Grant | $691,675 |
| Charities Aid Foundation America Alexandria, VA | Small Grant | $526,766 |
| American Heart Benamerican Heart Association Inc Dallas, TX | Large Multi-Year Grant | $500,000 |
| Good Samaritan Health Center Atlanta, GA | Small Grant | $500,000 |
Ready to take the next step with CVS Foundation?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $194,297,030 | $15,875,582 | $21,574,660 | $21,410,990 | 778 | $21,556,501 | $14,966,882 | $9,719,697 |
| 2023 | $197,167,369 | $34,009,631 | $28,604,092 | $19,218,183 | 1,205 | $19,484,595 | $8,345,602 | $9,563,501 |
| 2022 | $168,401,629 | $8,696,085 | $16,576,905 | $9,538,608 | 1,133 | $9,595,120 | $8,037,879 | $8,792,129 |
| 2021 | $194,756,165 | $57,672,465 | $11,221,283 | $10,453,367 | 912 | $10,536,671 | $7,126,767 | $7,180,787 |
| 2020 | $140,049,566 | $55,807,843 | $14,250,175 | $7,067,718 | 892 | — | $5,512,600 | $4,668,864 |
Under IRS private-foundation payout rules, CVS Foundation reported a distributable amount of $9.7M for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The available sources do not state a separate mission for the foundation. CVS Health describes its community investment strategy as prioritizing collaborations that increase access to health care and improve health outcomes. Its stated areas of support include preventive and community health, health-related social needs, education and workforce development, and disaster response.
Its 2024 grantees illustrate the kinds of organizations it supports. The Boston Foundation describes its work as expanding opportunities, improving lives and strengthening Greater Boston communities. The American Lung Association says its mission is to improve lung health and prevent lung disease through education, advocacy and research. Valleywise Health Foundation says it supports Arizona’s public teaching health system, including patient and program needs such as behavioral health and care for burn survivors.
Grantmaking
In filing year 2024, the foundation reported 778 grants totaling $21,410,990. Grants ranged from $250 to $2,460,500, with a median of $1,500. The largest listed award was $2,460,500 to the Boston Foundation. Other notable grants included $1,000,000 to the United Negro College Fund, $875,000 to the American Lung Association, $800,000 to March of Dimes, and $700,000 to Valleywise Health Foundation. The filing lists two separate $700,000 grants to Valleywise Health Foundation.
The foundation’s filing describes multi-year strategic, disaster relief, scholarship, Volunteer Challenge and matching gift grants. Its website says CVS Health and the CVS Health Foundation provide support by invitation or RFP only, and that there are no open RFPs at this time. The 2024 filing says deadlines vary by grant type and that applicants are encouraged to apply by invitation through program officers or through an RFP process.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Sheryl A. Burke as president and director, and Thomas S. Moffatt as vice president, secretary and director. It also lists Jennifer McColloch as vice president and assistant secretary; Robert S. Healy as vice president and assistant treasurer; Carol A. Denale as vice president, treasurer and director through July 2024; Kelleen Savage as vice president; Walter D. Woods as assistant secretary through September 2024; Joshua C. Cole as assistant treasurer; Melanie K. St Angelo as assistant secretary; and Mario Rivera Becerra as director.
CVS Foundation is led by Sheryl A. Burke, President & Director on every filing since 2022; none of the 21 officers listed in 2024 report compensation.
Officers on the 2024 filing
Sheryl A. Burke
President & Director
On filings since 2022
0.5 hrs/week
No compensation reported
Carol A. Denale
Vice President, Treasurer & Director
On filings since 2020
0.5 hrs/week
No compensation reported
Thomas S. Moffatt
Vice President, Secretary & Director
On filings since 2020
0.5 hrs/week
No compensation reported
Tracy L. Smith
Director
Director → Vice President & Assistant Treasurer, 2021
Vice President & Assistant Treasurer → Director, 2024
On filings since 2020
0.5 hrs/week
No compensation reported
Anthony Salerno
Director
On filings since 2022
0.5 hrs/week
No compensation reported
James D. Clark
Director
On filings since 2022
0.5 hrs/week
No compensation reported
Joneigh S. Khaldun
Director
On filings since 2022
0.5 hrs/week
No compensation reported
Cara A. McNulty
Director
On filings since 2023
0.5 hrs/week
No compensation reported
Carrah M. Calat
Director
On filings since 2023
0.5 hrs/week
No compensation reported
Mario Rivera Becerra
Director
On filings since 2023
0.5 hrs/week
No compensation reported
Michelle Gourdine
Director
On filings since 2023
0.5 hrs/week
No compensation reported
Shari M. Slate
Director
On filings since 2023
0.5 hrs/week
No compensation reported
Brian Henry
Director
New on the 2024 filing
0.5 hrs/week
No compensation reported
Erneshia Pinder
Director
New on the 2024 filing
0.5 hrs/week
No compensation reported
Mark C. Santos
Director
New on the 2024 filing
0.5 hrs/week
No compensation reported
Melanie K. St Angelo
Assistant Secretary
On filings since 2020
0.5 hrs/week
No compensation reported
Joshua C. Cole
Assistant Treasurer
On filings since 2022
0.5 hrs/week
No compensation reported
Kelleen Savage
Vice President
On filings since 2023
0.5 hrs/week
No compensation reported
Walter D. Woods
Assistant Secretary
On filings since 2023
0.5 hrs/week
No compensation reported
Jennifer McColloch
Vice President & Assistant Secretary
New on the 2024 filing
0.5 hrs/week
No compensation reported
Robert S. Healy
Vice President & Assistant Treasurer
New on the 2024 filing
0.5 hrs/week
No compensation reported
Former officers (4)
- Former: Eileen H. Boone (2020–2022) — President & Director
- Former: Jeffrey E. Clark (2020–2022) — Assistant Treasurer
- Former: Joanne M. Dwyer (2020–2022) — Director
- Former: Troyen M. Brennan MD (2020) — Director
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about CVS Foundation
How much does CVS Foundation give each year?
CVS Foundation gave $21.4M across 778 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $19.2M across 1,205 grants.
What is CVS Foundation's typical grant size?
CVS Foundation's median grant in 2024 was $1,500, and its average grant was $27,521, across 778 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from CVS Foundation that year got $35K on average.
Where does CVS Foundation give grants?
CVS Foundation's top state is Virginia, with 26% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were Massachusetts (19%) and Connecticut (9%). The most frequent recipient cities were Providence, RI (21 grants), Hartford, CT (20 grants), Alexandria, VA (18 grants) and Chicago, IL (18 grants).
Does CVS Foundation give general operating support?
Not in 2024: none of the 778 grants with a stated purpose on CVS Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Volunteer Challenge Grants" (610 grants), "Small Grant" (94 grants) and "Scholarship Grants" (32 grants).
Who are CVS Foundation's largest grantees?
CVS Foundation's largest 2024 grantees include Charities Aid Foundation America ($4,061,510 across 17 grants), Boston Foundation Inc ($2,482,500 across 4 grants) and Valleywise Health Foundation ($1,400,000 across 2 grants), according to its 2024 IRS Form 990-PF. It also paid 11 individual scholarships ($113,500), which are not listed by name. Together they received 37% of its itemized 2024 grant dollars.
How large is CVS Foundation?
CVS Foundation reported $194.3M in total assets on its 2024 IRS Form 990-PF. It paid out $21.6M in qualifying distributions that year, against a required minimum of $9.7M (roughly 5% of its investment assets).
What does CVS Foundation fund?
The available sources do not state a separate mission for the foundation. CVS Health describes its community investment strategy as prioritizing collaborations that increase access to health care and improve health outcomes. See mission & focus areas ↑
How do I apply for a grant from CVS Foundation?
The foundation does not accept unsolicited requests; support is by invitation or RFP only. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is CVS Foundation's EIN?
CVS Foundation's EIN (Employer Identification Number) is 22-3206973. IRS Form 990 filing data is available on this page for 2020–2024.
Does CVS Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Cite this profile
Grantable. (2026). CVS Foundation funder profile. GrantGraph. Retrieved October 13, 2026, from https://grantable.co/funders/cvs-foundation-morg_8faaf3a1bd5b4962b0073f78d49a9a90
BibTeX
@misc{grantable_223206973_2026,
author = {{Grantable}},
title = {{CVS Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/cvs-foundation-morg_8faaf3a1bd5b4962b0073f78d49a9a90},
note = {Accessed 2026-10-13. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from CVS Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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