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Home > About the Foundation > History, Origin and Financial Statements
History
The California Wellness Foundation (TCWF) is a private, independent foundation. Our mission is to improve the health of the people of California by making grants for health promotion, wellness education and disease prevention.
The Foundation prioritizes eight issues for funding:
The Foundation also provides funding for special projects that fulfill our mission but fall outside the eight health issues.
TCWF is one of the state’s largest private foundations, making an average of $50 million in grants each year in pursuit of its mission. Since its founding in 1992, the Foundation has awarded 5,061 grants totaling more than $623 million.
Origin
TCWF was founded in 1992, as a result of Health Net's conversion from nonprofit to for-profit status.
Under the terms of the California Department of Corporations' conversion order approving Health Net's for-profit status, the Foundation received the equivalent of the Department's valuation of Health Net at that time — $300 million, plus 80 percent of the equity of the holding company formed as Health Net's parent.
In subsequent years, the merger of Health Net's parent company and QualMed increased TCWF's assets dramatically. The Foundation, which operates independently of Health Net, currently has assets of more than $1 billion.
Financial Statements
A list of grants awarded, along with TCWF's audited financial statements, can be found in our Annual Report.. This information is also contained in our annual 990-PF IRS statement, which is available online at the California Attorney General’s website.
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