Strong investment returns coupled with continued high contributions led to a $70 million increase in assets from June 30, 2018, reaching an all-time high of $1.81 billion. Our asset portfolio is divided into four categories that reflect the many types of partnerships between the California Community Foundation and our donors: Permanent Discretionary Funds, Donor Advised Funds, Permanent Restricted Funds and Other Funds.
PERMANENT DISCRETIONARY FUNDS
are permanent gifts entrusted to CCF by individuals, families and organizations who understand the flexibility offered by unrestricted gifts. They allow CCF to adapt grantmaking to the evolving needs of Los Angeles for generations to come. These assets represented $538. million, 30 percent of our total assets.
DONOR ADVISED FUNDS
are donor-directed charitable funds or foundations started by donors who choose CCF to help them realize their philanthropic visions and goals. These funds accounted for $767 million, 42 percent of our total assets.
PERMANENT RESTRICTED FUNDS
are donor-designated funds for use at a specific organization through a legacy or a bequest. These assets made up $141 million, 8 percent of our total assets.
include private foundation alternatives, regional affiliates, trusts, community benefit funds and charitable gift annuities, among others, and constituted $375 million, 20 percent of our total assets.
$256 Million in Charitable Contributions
This year, the passion and generosity of CCF’s donors and partners led to $256 million in charitable contributions. Donor Advised Fund contributions saw a 13 percent increase over the previous year, while Permanent Discretionary Contributions more than tripled, thanks to the 22,000 donors who gave nearly $18 million to CCF’s Wildfire Relief Fund.
$233 Million in Grants
This year, CCF made more than 7,500 grants totaling nearly $233 million. Permanent Discretionary grants rose by 41% to more than $26 million, while Other Fund grants dropped by $22 million from the previous year. Grants to Los Angeles County nonprofits were $121 million, or 52 percent of total grants.
PAT AND IRA COHEN, CCF Donors
California Community Foundation and affiliates, consolidated (in thousands)
Cash and investments
Receivables and other assets
LIABILITIES AND NET ASSETS
Total liabilities and net assets
Change in net assets
Net assets at beginning of year
Net assets at end of year
The California Community Foundation 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.
*A full copy of the audited financial statements is available online at calfund.org/audit or by calling 213.413.4130. These abbreviated financial reports are unaudited.
Discretionary Grants by Impact Area (in thousands)
Every year, the California Community Foundation and our donors help transform the lives and futures of tens of thousands of people, in L.A. County and around the world. We are proud toachieve this impact while remaining committed to efficient and effective service, managing more than 1,700 charitable funds while maintaining overhead expenses at less than one percent of assets. The charts below provide a snapshot of grants for the fiscal year ended June 30, 2019.
Grant totals include adjustments to grants approved in prior years and grants made between funds at CCF.
* Discretionary grants depicted above include grants from Permanent Discretionary Funds as well as certain other grants made at the discretion of CCF.
** Grant totals include adjustments to grants approved in prior years and grants made between funds at CCF.