In May 1979, St. Luke's Hospital, Presbyterian Denver Hospital, and Presbyterian Aurora Hospital merged their business and financial operations into a new nonprofit organization called Presbyterian Denver/St. Luke's Healthcare Corporation.

The Colorado Episcopal Foundation was established in 1983.  The initial incorporators were Joan D. Francis, Ranald Macdonald & E. M. Womack. In April 1984 they adopted the initial mission statement: "Provide special financial support for the work of Christ through the Episcopal Church in Colorado.” In December 1985, Bill Crews was hired as the first executive director. He began leading the Foundation in February of 1986.

In 1986, Presbyterian/St. Luke’s Hospital was sold. The proceeds were used to set up the Colorado Trust. The Episcopal Church was named as one of the beneficiaries to the trust. The Executive Committee, which is now referred to as the Standing Committee, decided to direct the funds to the Colorado Episcopal Foundation. The goal at that time was to focus on Financial Services and Stewardship.

In 2017 the Standing Committee voted to rescind and redirect the annual payout to the Diocese of Colorado. This narrowed the focus of the Foundation to financial services and planned giving. And after many years of working with the Foundation, Scott Asper stepped into the role of executive director. He is a certified accountant and he is dedicated to his position.

Although the programs within the Foundation may have changed or shifted over the years, the core principle of strengthening the capacity for mission and ministry by stewarding the financial resources of the  Episcopal Church in Colorado has remained.