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.

Previously, 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 in May 1979. Then in 1986, Presbyterian/St. Luke’s Hospital was sold. The proceeds were used to set up the Colorado Trust and the Episcopal Church was named as one of the beneficiaries to this trust. The Executive Committee, now known as the Standing Committee, decided to direct the funds to the Colorado Episcopal Foundation. The goal of the Foundation at that time was to focus on Financial Services and Stewardship. For decades, the Foundation maintained that focus and helped Episcopal churches and nonprofits.

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 specifically to financial services and planned giving. At this time, Scott Asper stepped into the role of executive director. Scott had already spent several years at the Foundation as a certified accountant and he is dedicated to his role.

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 the same.