Cvs Foundation
CVS Foundation is a private independent foundation based in Woonsocket, Rhode Island. The foundation is affiliated with CVS Health and operates as a 501(c)(3) charitable organization. It has been tax-exempt since February 1993.
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
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.
Mission & Focus Areas
The foundation supports 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 kids in their path to better health
Primary funding focus areas include:
- Community health grants
- Health and medical grants
- Health and wellness initiatives
- Obesity prevention
- School health programs
- Health education
- Tobacco prevention, particularly youth tobacco use reduction
Grantmaking
The foundation accepts applications and has open grant opportunities.
Grant Range
$1,000 to $2,460,500
How to Apply
**
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Geographic Focus
Where this funder awards grants
The foundation's geographic focus includes company operations nationwide, with particular emphasis on Connecticut, Pennsylvania, and Illinois. Recent grant activity indicates funding in New York, Charlotte, Ohio, and Philadelphia.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Fiscal Year 2024:
- Total Assets: $194,297,030
- Total Revenue: $15,875,582
- Total Expenses: $21,574,660
- Net Income: -$5,699,078
- Net Assets: $176,558,656
Revenue Sources (2024):
- Dividends: $5,300,068
- Sales of Assets: $8,881,407
- Interest Revenue: $5,253
- Other Income: $1,688,854
- Contributions Received: $0
Expenses (2024):
- Charitable Disbursements: $21,556,501 (99.9% of total expenses)
Assets and Liabilities (2024):
- Total Assets: $194,297,030
- Total Liabilities: $17,738,374
- Net Assets: $176,558,656
Giving Rate: Approximately 7.9% of assets annually
| 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
Among its reported 2024 grants, the largest include American Lung Association ($875,000), American Heart Benamerican Heart Association Inc ($500,000), American Association of Colleges of Pharmacy (aacp) ($453,600).
| Recipient | Purpose | Amount |
|---|---|---|
| SHARE OUR STRENGTH WASHINGTON, DC | VOLUNTEER CHALLENGE GRANTS | $250,000 |
| 7TH REGIMENT YOUTH PERFORMING ARTS ORGANIZATION INC NEW LONDON, CT | VOLUNTEER CHALLENGE GRANTS | $3,000 |
| A LEGACY OF HOPE INC JAMESTOWN, NC | VOLUNTEER CHALLENGE GRANTS | $500 |
| A SAFE PLACE LAKE COUNTY ZION IL ZION, IL | VOLUNTEER CHALLENGE GRANTS | $2,500 |
| ABBYS ANGELS FOUNDATION SHARPSBURG GA SHARPSBURG, GA | VOLUNTEER CHALLENGE GRANTS | $1,000 |
| ADOPT A FAMILY CUMBERLAND RI CUMBERLAND, RI | VOLUNTEER CHALLENGE GRANTS | $3,500 |
| ADOPTION RHODE ISLAND PROVIDENCE, RI | SMALL GRANT | $50,000 |
| ADULT CONGENITAL HEART ASSOC MEDIA PA MEDIA, PA | VOLUNTEER CHALLENGE GRANTS | $500 |
| AFRICAN ROAD ELEMENTARY PTO VESTAL NY VESTAL, NY | VOLUNTEER CHALLENGE GRANTS | $1,500 |
| AFRICAN ROAD ELEMENTARY PTO VESTAL NY VESTAL, NY | VOLUNTEER CHALLENGE GRANTS | $1,500 |
Leadership & Key People
Leadership team and compensation from IRS filings
Key officers and directors include:
- Sheryl A. Burke - President, Director
- Thomas S. Moffatt - Vice President/Secretary, Director
- Kelleen Savage - Vice President
- Jennifer McColloch - Vice President/Assistant Secretary
- Melanie K. St Angelo - Assistant Secretary
- Joshua C. Cole - Assistant Treasurer
- James D. Clark - Director
- Anthony Salerno - Director
- Erneshia Pinder - Director
Contact: Joanne Dwyer
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 foundation has announced several significant grants and initiatives:
CVS Health | CVS Health Foundation Grants the American Diabetes Association $2.6 Million to Expand Maternal Diabetes Program Across Two Additional NYC Communities**Maternal Diabetes Program:** Granted $2.6 million to the American Diabetes Association to expand a maternal diabetes program across two additional New York City communities
CVS Health | CVS Health Foundation Grants the American Diabetes Association $2.6 Million to Expand Maternal Diabetes Program Across Two Additional NYC Communities**Charlotte Community Health:** Invested $2.24 million to strengthen community health in Charlotte's historic West End
CVS Health | CVS Health Foundation Grants the American Diabetes Association $2.6 Million to Expand Maternal Diabetes Program Across Two Additional NYC Communities**Ohio Community-Based Care:** Invested $2.24 million to expand community-based care through Health Impact Ohio
CVS Health | CVS Health Foundation Grants the American Diabetes Association $2.6 Million to Expand Maternal Diabetes Program Across Two Additional NYC Communities**Healthy Aging Initiative:** Granted $4 million as part of a new healthy aging initiative
CVS Health Foundation grants $4 million as part of its new healthy aging initiativeThe foundation maintains active grant opportunities including the Columbus Health Zones RFP, CVS Community Health Grants, Health Zones Program in Philadelphia, Hometown Fund grant, Charlotte Health Zones Grant, and Volunteer Challenge Grants.
CVS Health | CVS Health Foundation Grants the American Diabetes Association $2.6 Million to Expand Maternal Diabetes Program Across Two Additional NYC CommunitiesFrequently Asked Questions
What does Cvs Foundation fund?
The foundation supports 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 kids in their path to better health Primary funding focus areas include: • Community health grants • Health and medical grants • Health and wellness initiatives • Obesity prevention • School health programs • Health education • Tobacco prevention, particularly youth…
How do I apply for a grant from Cvs Foundation?
**Grant Activity:** • Made approximately $21.5 million in charitable disbursements in fiscal year 2024 • Distributed $8.7 million in grants in 2024 • Typical grant range: $1,000 to $2,460,500 • Median grant size: $2,000 • Made 413 grants in recent fiscal year **Grant Programs:** **Volunteer Challenge Grants** - Awards $500 to $3,000 to nonprofit organizations where CVS employees volunteer. Individual employees must volunteer 25 hours of service; teams of employees must volunteer 50 hours of ser…
Where does Cvs Foundation make grants?
The foundation's geographic focus includes company operations nationwide, with particular emphasis on Connecticut, Pennsylvania, and Illinois. Recent grant activity indicates funding in New York, Charlotte, Ohio, and Philadelphia.
What size grants does Cvs Foundation award?
In 2024, Cvs Foundation awarded 778 grants totaling $21.4M — an average of about $28K per grant, based on its IRS Form 990 filings.
How much is Cvs Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Cvs Foundation reported a distributable amount of $9.7M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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.
Explore Open Grants
Browse active grant opportunities in Cvs Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated June 2026.
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