Transforming the Marketplace

The California Endowment’s FreshWorks Fund

Year Committed: 2011
Length of Commitment: 5 years

Launch the California FreshWorks Fund and provide $200 million in financing to support the establishment of grocery stores and related retailers to increase access to healthy foods in underserved areas.

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Verified Results

    • Commitment Element

      On an annual basis beginning 1 year from the first close of the fund, submit a report to PHA outlining the program’s status, including funds raised to date, funds expended, number of people served (residing both inside and outside USDA-designated food deserts) and the number of jobs created by CAFWF investments.
    • Progress To Date

      Between October 1, 2015 and September 30, 2016, the amount of funds raised by CAFWF remained unchanged, with a total amount raised to date of $272,838,432. Of this total, $45,451,724 has been disbursed in loans and grants to fund projects. During the current reporting period, funds were dispersed to 18 unique organizations. Projects included supplying equipment to support multiple farmers markets; refrigeration and technology to improve the ability of small food retailers to offer more healthful foods; vehicles to distribute food to corner stores and isolated communities; and building a kitchen commissary for mobile healthy food vendors. As of September 30, 2016, the CAFWF estimated that 3,805,111 people were being served by the projects it has financed and funded to date. CAFWF reported that this estimate is grounded in reporting provided by recipients at the time of funding and is based on both formal and informal market analyses, and these numbers are sometimes updated to be higher or lower than initial projections once the project is more mature. Verifiers were provided with no specific or reproducible methods on how population estimates were obtained or modified. The number of new jobs created by all projects that CAFWF has funded to date is estimated to be 1,799.5 FTE jobs. The total number of people hired for full-time and part-time jobs for all projects funded to date is estimated to be 1,914 people.

    • Implementation Date

      July 2016
    • Reporting Date

      September 2016

Partner Statement

No statement provided.