The California Community Foundation’s assets reached an all-time high of $1.68 billion as of June 30, 2017. Assets increased by $251 million, or 18 percent, for the fiscal year. This robust growth can be attributed to two factors: the goodwill of our donors, who contributed $288 million and granted $179 million to benefit communities in Los Angeles County and beyond, and the strong performance of our investments, which added $163 million during the year.
Significant gifts received this year included privately-held business interests, real estate, publicly-traded securities and art auction proceeds. CCF’s flexible structure facilitates the contribution of complex assets and offers our donors and partners a platform to accomplish a variety of philanthropic goals.
Our effective stewardship and strong financial health are upheld thanks to the commitment and expertise of our staff and partners. Our Board of Directors and professional staff work diligently to maintain sound financial controls. Our Audit Committee oversees our financial reporting and risk management. Our Investment Committee continually monitors capital markets, investment policies, asset allocation and outside investment managers. Lastly, our Budget and Development Committees ensure that we maintain efficient operations and keep watch over our long-term financial health.
Thank you for your interest and support in partnering with us to realize your philanthropic goals. In particular, we thank our donors for entrusting us with their charitable funds and visions for a better world. We are committed to accountability and transparency and welcome any questions or comments about our financial activities.
Steven J. Cobb
Chief Financial Officer
Vice President, Finance