A MESSAGE FROM THE CFO
In a year filled with many challenges, we received tremendous support from our donors and philanthropic partners in support of our mission. The California Community Foundation’s assets reached an all-time high of $1.91 billion as of June 30, 2020. Total assets increased by $99 million over the fiscal year, thanks to generous contributions of $403 million–a 58 percent increase from the previous year.
We made more than 8,000 grants totaling more than $300 million to charities in Los Angeles County and elsewhere. This 35 percent increase in grantmaking demonstrates our donors’ strong commitment to making meaningful change in our community through charitable giving. We are encouraged by the robust donor giving to LA communities, in our priority areas of education, health, housing and immigration as well as providing critical relief for our most vulnerable neighbors during COVID-19 and the accompanying economic fall-out. More than half of all grants this year supported Los Angeles County.
Our strong financial standing is upheld with the commitment and expertise of our staff and partners even in uncertain times. 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 to our donors for entrusting us with your charitable dollars. We are committed to transparency and accountability, just as we are driven by our mission to continually build a better Los Angeles together. We look forward to answering any questions you may have regarding our financial activities. Thank you for continuing to choose CCF as your philanthropic partner.
STEVEN J. COBB
Chief Financial Officer
“We are encouraged by the robust donor giving to LA communities, in our priority areas of education, health, housing and immigration as well as providing critical relief for our most vulnerable neighbors during COVID-19 and the accompanying economic fall-out.”
— JAMES E. BERLINER,