Message from the CFO

California Community Foundation’s assets reached an all-time high of $1.46 billion as of June 30, 2015. This milestone was made possible by the continued generosity of our donors and our ongoing fiscal stewardship. Contributions exceeded $200 million, an increase of more than 50% from the prior year. Investment activity added nearly $10 million as global economic conditions muted investment returns. Our grantmaking maintained pace with prior years. We granted more than $150 million to charities in Los Angeles County and elsewhere.

Our Board of Directors and professional staff work diligently to maintain sound financial controls in support of our programmatic objectives. The Board sets investment policies, approves budgets and reviews financial reports. In those efforts, the Board works with experts such as Cambridge Associates and KPMG. At the staff level, an experienced team performs due diligence on investments and grantees, monitors investment activity, and strives for efficiency in operations.

In support of your charitable objectives, we are committed to accountability and transparency. We welcome the chance to answer any questions you might have. We hope you continue to choose CCF as your philanthropic partner.

Steven J. Cobb
Vice President and Chief Financial Officer