MESSAGE FROM THE CFO
The California Community Foundation maintains a stable and robust financial position, finishing the fiscal year with more than $1.42 billion in assets. In a year of stock market volatility, our donors reacted with generosity, making $195 million in contributions and $174 million in grants. This demonstrates continuing growth in our ability to serve the philanthropic needs of Los Angeles County.
We are able to sustain this pace thanks to rigorous financial controls and the diligence, hard work and expertise of our staff and partners. The volunteer members of our Board of Directors contribute their time and skills to oversee and guide our financial activities. Our staff maximize the effectiveness of your charitable dollars with a commitment to efficiency, transparency and service. Importantly, our work would not be possible without our expert fiscal partners, from Cambridge Associates to KPMG and including our many partner banks and investment managers.
CCF’s flexible financial platform meets the diverse needs of our customers. We streamline the giving process by facilitating the contribution of complex assets such as stocks, real estate or LLC interests. We accommodate a range of philanthropic vehicles, such as scholarship funds, perpetual endowments and Donor Advised Funds. Additionally, our investment pools allow for a variety of grantmaking time horizons, whether donors want to grant their funds immediately or in perpetuity.
By ensuring the highest levels of accountability and fiscal management, we seek to be the permanent philanthropic resource for Los Angeles County. Thank you for partnering with us, and we encourage you to contact us with any questions or comments.
Steven J. Cobb
Vice President and Chief Financial Officer