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CVS Health Foundation awards $1 Million in Hometown Fund grants to boost local impact across Rhode Island

1. CVS Health Foundation grants $1M to improve health outcomes in Rhode Island. 2. Grants focus on food security, supportive housing, and educational resources. 3. CVS Health invested $8M in community support since 2022. 4. Free health screenings offered through the Project Health initiative. 5. Ongoing commitment to local nonprofits enhances community health.

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Why Bullish?

The grants and community support initiatives enhance CVS’s brand reputation, potentially driving customer loyalty and sales. Similar past initiatives have positively influenced CVS's stock performance, particularly in stabilizing revenue streams within local markets.

How important is it?

The initiatives reflect CVS's commitment to social responsibility, which resonates well with investors focused on ESG criteria. This funding could also lead to increased service utilization, benefitting revenue.

Why Long Term?

Community investments often lead to sustained relationships, influencing long-term customer engagement and loyalty. Historical examples show that companies with strong community ties tend to enjoy consistent market share growth.

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Grants will support local nonprofits improving health outcomes across the state , /PRNewswire/ -- CVS Health® (NYSE: CVS) Foundation announced today that it is awarding $1 million in general operating grants through its Hometown Fund to 20 Rhode Island-based organizations. These organizations are committed to making health care more accessible and focusing on services that contribute to a healthier community, such as nutritious food, supportive housing and educational resources. "We created the Hometown Fund to support organizations dedicated to improving health outcomes in the communities around our corporate offices in Hartford and Woonsocket," said Sheryl Burke, President of the CVS Health Foundation. "By supporting local nonprofits, we hope to positively impact and strengthen the communities where we live and work." Connecting for Children and Families, in the Woonsocket area, is one of the beneficiaries of this year's Hometown Fund. The grant will enable the organization to continue serving families through their Front Street Family Center, where they provide wrap around supports including food, basic needs, and case management. "This grant is essential to our work in Woonsocket," says Erin Spaulding, Executive Director of Connecting for Children & Families. "This funding will allow us to move beyond just providing greater access to food and basic needs and begin addressing the broader challenges that impact the well-being of our families." Since 2022, the CVS Health Foundation has invested $8 million in grants to numerous Greater Hartford and Rhode Island organizations. Alongside Connecting for Children and Families, additional recipients of the Hometown Fund include the Adoption Rhode Island, Aldersbridge Communities, Amos House, Children and Youth Cabinet of Rhode Island, Clinica Esperanza/Hope Clinic, Elizabeth Buffum Chace Center, Federal Hill House Association, Foster Forward, House of Hope Community Development Corporation, Inspiring Minds, NeighborWorks Blackstone River Valley, One Neighborhood Builders, Project Weber/RENEW, Rhode Island Parent Information Network, Rhode Island Public Health Institute, Sojourner House, Southside Community Land Trust, Wood River Health Services and Youth Pride. CVS Health is announcing this year's Hometown Fund grantees as part of its continued commitment to community support in Rhode Island. The company offers free health screenings to individuals nationwide through its Project Health initiative and last year, screened more than 1,300 participants in Rhode Island. CVS Health also offers free workforce training and access to health services through the company's Workforce Innovation and Talent Center in Woonsocket. Additionally, the CVS Health Foundation granted $1 million last year to support the Women & Infants Hospital's ongoing work to increase access to maternal health services, including programming to expand its workforce and launch a new postpartum mobile clinic. About The CVS Health Foundation The CVS Health Foundation has a proud history of supporting local communities across various regions throughout the United States. The Foundation is dedicated to uniting communities to address health challenges in collaboration with a wide range of nonprofit grantees. The Foundation collaborates on programs that enhance health outcomes, with focus areas including mental well-being, healthy aging, maternal health, health impacts from extreme weather and chronic conditions like cardiovascular disease and diabetes. It also helps lay the groundwork for a healthier future by assisting organizations that address food security and promote educational opportunities. Additionally, the CVS Health Foundation supports CVS Health colleagues by backing the causes that are most meaningful to them through its Matching Gifts, Volunteer Challenge Grants and Children of Colleague Scholarship programs. Media Contacts Courtney Tavener 401-712-3698 [email protected]  SOURCE CVS Health WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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