Cvs Foundation
The CVS Foundation is a corporate foundation based in Woonsocket, Rhode Island, serving as the philanthropic arm of CVS Health. Established in 1992, the foundation is designated as a 501(c)(3) organization and has been tax-exempt since February 1993. The foundation supports health and social initiatives across the United States, with a particular focus on expanding access to quality health care and promoting community wellness.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$194.3M
-1.5% YoY
Annual Giving
$21.4M
+11.4% YoY
Grant Count
778
-35.4% YoY
Avg Grant Size
$28K
+72.6% YoY
Mission & Focus Areas
The foundation's mission is to support programs designed to:
- Promote access to health care for underserved populations
- Advance wellness and prevention initiatives to help people achieve their best health
- Support programs designed to help all children on their path to better health
Primary funding areas include:
- Health care access and administration
- Medical education and professional education
- Public health and preventive care
- Mental health care and addiction services
- Patient social services and medical support services
- Services for economically disadvantaged and low-income individuals
- Services for people with disabilities
- Specific medical conditions including diabetes and asthma
- Hospital care, outpatient medical care, and health care clinics
Grantmaking
The CVS Health Foundation has made multi-million dollar commitments to expanding access to quality health care nationwide through partnerships with the National Association of Free & Charitable Clinics (NAFC) and the National Association of Community Health Centers (NACHC). Grants are awarded to free and charitable clinics, school-based health centers, and community health centers nationwide.
Invitation Only
Application for CVS Health Foundation grants is by invitation only.
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Geographic Focus
Where this funder awards grants
The foundation has a broad geographic reach, funding projects in numerous cities and states across the United States. Recent investments have been made in communities including Ohio and Charlotte, North Carolina.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of December 31, 2023:
- Total Assets: $197,167,369
- Total Revenue: $34,009,631
- Total Expenses: $28,604,092
- Grants Made: $8,734,845
Revenue Breakdown (2023):
- Total grants and contributions: $25,000,000
- Investment income and dividends: $4,958,023
- Net gain from sale of non-inventory assets: $2,394,669
Year-over-Year Changes (2023 vs. 2022):
- Investment income increased 30.3%
- Net gain from asset sales increased 12.5%
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $194,297,030 | $197,167,369 | $168,401,629 |
| Revenue | $15,875,582 | $34,009,631 | $8,696,085 |
| Expenses | $21,574,660 | $28,604,092 | $16,576,905 |
| Qualifying Distributions | $21,556,501 | $19,484,595 | $9,595,120 |
| Net Investment Income | $14,966,882 | $8,345,602 | $8,037,879 |
| Distributable Amount | $9,719,697 | $9,563,501 | $8,792,129 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Open Grants
6 open opportunities from Cvs Foundation
Columbus Health Zones RFP Grant
CVS FOUNDATION
Amount
Up to US $2,240,000
Deadline
Rolling / Open
CVS Community Health Grants
CVS FOUNDATION
Amount
Varies
Deadline
Rolling / Open
Health Zones Program in Philadelphia, PA Grant
CVS FOUNDATION
Amount
Up to US $2,250,000
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Key personnel include:
- Sheryl A. Burke, President and Director
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| SHERYL A BURKE | PRESIDENT & DIRECTOR | 0.5 | — |
| THOMAS S MOFFATT | VICE PRESIDENT/SECRETARY/DIRECTOR | 0.5 | — |
| JENNIFER MCCOLLOCH | VICE PRES/ASST SECRETARY (AS OF 10/24) | 0.5 | — |
| ROBERT S HEALY | VICE PRES/ASST TREAS (AS OF 11/24) | 0.5 | — |
| CAROL A DENALE | VICE PRES/TREAS/DIR(THRU 07/24) | 0.5 | — |
| KELLEEN SAVAGE | VICE PRESIDENT | 0.5 | — |
| WALTER D WOODS | ASSISTANT SECRETARY (THRU 9/24) | 0.5 | — |
| JOSHUA C COLE | ASSISTANT TREASURER | 0.5 | — |
| MELANIE K ST ANGELO | ASSISTANT SECRETARY | 0.5 | — |
| MARIO RIVERA BECERRA | DIRECTOR | 0.5 | — |
| JAMES D CLARK | DIRECTOR | 0.5 | — |
| TRACY L SMITH | DIRECTOR | 0.5 | — |
| MICHELLE GOURDINE | DIRECTOR | 0.5 | — |
| CARRAH M CALAT | DIRECTOR | 0.5 | — |
| BRIAN HENRY | DIRECTOR | 0.5 | — |
| ERNESHIA PINDER | DIRECTOR (AS OF 3/8/24) | 0.5 | — |
| ANTHONY SALERNO | DIRECTOR | 0.5 | — |
| MARK C SANTOS | DIRECTOR (AS OF 12/7/23) | 0.5 | — |
| JONEIGH S KHALDUN | DIRECTOR (THRU 12/8/24) | 0.5 | — |
| CARA A MCNULTY | DIRECTOR (THRU 5/1/24) | 0.5 | — |
| SHARI M SLATE | DIRECTOR (THRU 3/8/24) | 0.5 | — |
Recent News & Activity
Recent developments and announcements
The CVS Health Foundation has made recent significant investments in community health initiatives:
CVS Health Foundation Invests $2.24 Million to Expand Community\u2011Based\$2.24 million investment to expand community-based care through Health Impact Ohio
CVS Health Foundation Invests $2.24 Million to Expand Community\u2011Based\$2.24 million investment to strengthen community health in Charlotte's historic West End
CVS Health Foundation Invests $2.24 Million to Expand Community\u2011Based\The foundation continues to expand its partnerships with national health center networks to support innovative solutions to chronic disease management and improve health outcomes across underserved communities.
CVS Health Foundation Invests $2.24 Million to Expand Community\u2011Based\Related Funders
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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