I am honored to serve as chair of the Audit Committee of the California Community Foundation’s Board of Directors. The foundation’s commitment to efficiency, transparency and strong financial management play a pivotal role in upholding our responsibilities to our donors and the communities we serve. By meeting regularly with CCF’s management and finance staff, the Audit Committee ensures rigorous fiscal controls and adherence to strict governance and administrative standards. I am pleased to present CCF’s financial statements for the fiscal year ended June 30, 2016. We worked closely with our professional independent auditors at KPMG LLP to provide an accurate representation of our organization’s health and stability.

Meloni M. Hallock
Audit Committee Chair and Board Member

Financial Statements*

California Community Foundation and affiliates consolidated (in thousands)

BALANCE SHEET
Assets
6/30/16
6/30/15

Assets
Cash and investments
6/30/16
$1,349,021
6/30/15
$1,375,413

Assets
Receivables and other assets
6/30/16
75,159
6/30/15
81,697

Assets
Total assets
6/30/16
$1,424,180
6/30/15
$1,457,110

Liabilities and net assets

Liabilities
$161,930
$143,384

Net assets
1,262,250
1,313,726

Total liabilities and net assets
$1,424,180
$1,457,110

INCOME STATEMENTS
Revenue
FYE 6/30/2016
FYE 6/30/2015

Revenue
Contributions
FYE 6/30/2016
$194,764
FYE 6/30/2015
$200,144

Revenue
Other revenue (loss)
FYE 6/30/2016
(48,607)
FYE 6/30/2015
(4,909)

Revenue
Total revenues
FYE 6/30/2016
$146,157
FYE 6/30/2015
$195,235

Expenses
Grants
$173,791
$154,637

Other expenses
23,842
116,860

Total expenses
$197,633
$171,497

Change in net assets
(51,476)
23,738

Net assets at beginning of year
1,313,726
1,289,988

Net assets at end of year
$1,262,050
$1,313,726

CCF maintains operating expenses at less than one percent of assets. We are committed to efficiency in order to maximize the impact of our donors’ charitable contributions.
*The California Community Foundation works with an independent public accounting firm to perform an audit of its records and financial statements. A full copy of the audited financial statements is available online at calfund.org/Audit or by calling 213.413.4130. The above abbreviated financial reports are unaudited.

2015-2016 Annual Report