{"id":241,"date":"2020-10-07T19:43:43","date_gmt":"2020-10-07T19:43:43","guid":{"rendered":"https:\/\/www.calfund.org\/2020annualreport\/?page_id=241"},"modified":"2020-11-23T22:44:17","modified_gmt":"2020-11-23T22:44:17","slug":"financials","status":"publish","type":"page","link":"https:\/\/www.calfund.org\/2020annualreport\/financials\/","title":{"rendered":"FINANCIALS"},"content":{"rendered":"[vc_section full_width=\"stretch_row\" css=\".vc_custom_1605923275076{margin-bottom: 0px !important;padding-bottom: 0px !important;}\" el_class=\"section-ceo-top\"]

ASSETS, CONTRIBUTIONS & GRANTS<\/h1>\n

The continued generous contributions from our donors and foundation partners has led to an over $99 million increase in assets from June 30, 2020, reaching an all-time high of $1.91 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.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/section>[\/vc_section][vc_section css=\".vc_custom_1605509280859{margin-top: 0px !important;padding-top: 0px !important;background-color: #ffffff !important;}\"]

OVERVIEW OF ASSETS<\/h3>\n

(in thousands)<\/p>\n

\"\"\"\"\"\"\"\"
\nCharts represent fiscal years ended June 30<\/em><\/p>\n<\/div><\/div><\/div>

Permanent Discretionary Funds<\/b><\/p>\n

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 $541 million, 30 percent of our total assets.<\/p>\n

Donor Advised Funds<\/b><\/p>\n

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 $857 million, 44 percent of our total assets.<\/span><\/p>\n

Permanent Restricted Funds<\/b><\/p>\n

are donor-designated funds for use at a specific organization through a legacy or a bequest. These assets made up $148 million, 7 percent of our total assets.<\/p>\n

Other Funds<\/b><\/p>\n

include private foundation alternatives, regional affiliates, trusts, community benefit funds and charitable gift annuities, among others, and constituted $366 million, 19 percent of our total assets.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/section>

OVERVIEW OF CONTRIBUTIONS<\/h3>\n

(in thousands)<\/p>\n

$403 MILLION IN CHARITABLE CONTRIBUTIONS<\/strong><\/span> This year, the passion and generosity of CCF\u2019s donors and partners led to $403 million in charitable contributions. Donor Advised Fund contributions saw a nearly 60 percent increase over the previous year.<\/p>\n

\"\"\"\"<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/section>

OVERVIEW OF GRANTS<\/h3>\n

(in thousands)<\/p>\n

$313 MILLION IN GRANTS <\/strong><\/span>This year, CCF made more than 8,610 grants totaling over $300 million, a 35 percent increase from the previous year. Permanent Discretionary grants rose by 22 percent to more than $31 million, while the Foundation\u2019s COVID Response, Census 2020 and Youth Empowerment Initiatives (reflected in \u201cOther\u201d) totaled $72 million and resulted in a significant 210 percent increase. Grants to Los Angeles County nonprofits increased to $173 million representing 55 percent of total grants.<\/p>\n

\"\"\"\"Grant totals include adjustments to grants approved in prior years and grants made between funds at CCF.<\/em><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/section>

FINANCIAL STATEMENTS<\/h1>\n

California Community Foundation and affiliates, consolidated (in thousands)<\/p>\n<\/div>

BALANCE SHEET<\/p>\n\n\n\n\n\n\n\n\n\n\n
ASSETS<\/td>\n6\/30\/2020<\/td>\n6\/30\/2019<\/td>\n<\/tr>\n
Cash and investments<\/td>\n$1,784,681<\/td>\n$1,702,961<\/td>\n<\/tr>\n
Receivables and other assets<\/td>\n129,989<\/td>\n112,302<\/td>\n<\/tr>\n
Total assets<\/td>\n$1,914,670<\/td>\n$1,815,263<\/td>\n<\/tr>\n
LIABILITIES AND NET ASSETS<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Liabilities<\/td>\n$184,305<\/td>\n$172,703<\/td>\n<\/tr>\n
Net assets<\/td>\n1,730,365<\/td>\n1,642,560<\/td>\n<\/tr>\n
Total liabilities and net assets<\/td>\n$1,914,670<\/td>\n$1,815,263<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>

INCOME STATEMENT<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
REVENUE<\/td>\nFYE 6\/30\/2020<\/td>\nFYE 6\/30\/2019<\/td>\n<\/tr>\n
Contributions<\/td>\n$403,378<\/td>\n$255,768<\/td>\n<\/tr>\n
Other revenue<\/td>\n11,401<\/td>\n65,571<\/td>\n<\/tr>\n
Total revenues<\/td>\n$414,779<\/td>\n$321,339<\/td>\n<\/tr>\n
EXPENSES<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Grants<\/td>\n$313,370<\/td>\n$232,936<\/td>\n<\/tr>\n
Other expenses<\/td>\n13,604<\/td>\n18,729<\/td>\n<\/tr>\n
Total expenses<\/td>\n$326,974<\/td>\n$251,665<\/td>\n<\/tr>\n
Change in net assets<\/td>\n87,805<\/td>\n69,674<\/td>\n<\/tr>\n
Net assets at beginning of year<\/td>\n1,642,560<\/td>\n1,572,886<\/td>\n<\/tr>\n
Net assets at end of year<\/td>\n$1,730,365<\/td>\n$1,642,560<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><\/div><\/div>

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\u2019 charitable contributions.<\/p>\n

*A full copy of the audited financial statements is available online at calfund.org\/audit<\/a> or by calling 213.413.4130. These abbreviated financial reports are unaudited<\/p>\n<\/div><\/div><\/div><\/div><\/section>[\/vc_section][vc_section full_width=\"stretch_row\" css=\".vc_custom_1605920603828{background: #ffffff url(https:\/\/www.calfund.org\/2020annualreport\/wp-content\/uploads\/2020\/11\/Leaf-Background-Green.png?id=1074) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}\"]

<\/div><\/div>

This year, CCF made more than 8,610 grants totaling over $300 million, a 35 percent increase from the previous year.<\/em><\/h4>\n<\/div><\/div>
<\/div><\/div><\/div><\/div><\/section>[\/vc_section][vc_section full_width=\"stretch_row\" content_placement=\"middle\" css=\".vc_custom_1605694073341{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-right: 0px !important;padding-bottom: 0px !important;padding-left: 0px !important;background-image: url(https:\/\/www.calfund.org\/2020annualreport\/wp-content\/uploads\/2020\/11\/Orange-Leaf-Photo-2-sm.png?id=1094) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}\"]
<\/div><\/div>
DONOR IMPACT<\/h5>\n

\u201cWe always call CCF when we have questions about giving. They take the time to offer advice and make us feel confident about our philanthropy.\u201d<\/h3>\n

\u2014 BETSY GONZALEZ,
\nCCF Donor<\/p>\n<\/div>LEARN MORE<\/a><\/div><\/div><\/div><\/div><\/section>[\/vc_section]","protected":false},"excerpt":{"rendered":"

[vc_section full_width=”stretch_row” css=”.vc_custom_1605923275076{margin-bottom: 0px !important;padding-bottom: 0px !important;}” el_class=”section-ceo-top”]ASSETS, CONTRIBUTIONS & GRANTS The continued generous contributions from our donors and foundation partners has led to an over $99 million increase in assets from June 30, 2020, reaching an all-time high of $1.91 billion. Our asset portfolio is divided into four categories that reflect the many types […]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-241","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.calfund.org\/2020annualreport\/wp-json\/wp\/v2\/pages\/241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.calfund.org\/2020annualreport\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.calfund.org\/2020annualreport\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.calfund.org\/2020annualreport\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.calfund.org\/2020annualreport\/wp-json\/wp\/v2\/comments?post=241"}],"version-history":[{"count":49,"href":"https:\/\/www.calfund.org\/2020annualreport\/wp-json\/wp\/v2\/pages\/241\/revisions"}],"predecessor-version":[{"id":1871,"href":"https:\/\/www.calfund.org\/2020annualreport\/wp-json\/wp\/v2\/pages\/241\/revisions\/1871"}],"wp:attachment":[{"href":"https:\/\/www.calfund.org\/2020annualreport\/wp-json\/wp\/v2\/media?parent=241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}