It was founded by then San Juan Mayor and President of the Philippine Motion Picture Producers Association (PMPPA) Joseph E. Estrada for the welfare of workers in the
Philippine motion picture industry.
It has expanded the Manila Film Festival to become the now-popular Metro Manila Film Festival Philippines (MMFFP). It also helped rationalize the movie industry with its contributions in creating agencies like the Film Academy of the Philippines (FAP) and
reorganizing the Movie and Television Review and Classification Board (MTRCB). Mowelfund has also initiated the campaign against film and video piracy.