{"id":3110,"date":"2021-11-11T20:24:40","date_gmt":"2021-11-11T20:24:40","guid":{"rendered":"https:\/\/www.calfund.org\/2021annualreport\/?page_id=3110"},"modified":"2021-11-16T22:21:02","modified_gmt":"2021-11-16T22:21:02","slug":"investments","status":"publish","type":"page","link":"https:\/\/www.calfund.org\/2021annualreport\/investments\/","title":{"rendered":"Investments"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"3110\" class=\"elementor elementor-3110\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-afe50a4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"afe50a4\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-438445b\" data-id=\"438445b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7061577 elementor-widget elementor-widget-text-editor\" data-id=\"7061577\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h1 style=\"text-align: center;\">INVESTMENT POOLS + STRATEGY<\/h1>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8688e69 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8688e69\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-df61dc9\" data-id=\"df61dc9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8e00a43 elementor-widget elementor-widget-text-editor\" data-id=\"8e00a43\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>CCF has served Los Angeles for over 100 years. To ensure we continue making an impact in the next century and beyond, our investments are focused on the long term. In a tumultuous environment, we de-emphasized short-range noise and maintained a disciplined long-term investment strategy. We invested across asset classes to reduce volatility and better control the aggregate risk and return of our portfolio.<\/p>\n<p>Recent Endowment Pool returns have been excellent. For the one-year period ending June 30, 2021, the Endowment Pool returned 25.6 percent. This was partly attributable to a slight over allocation to equities in general and non-U.S. equities in particular\u2014two segments of the capital markets which have experienced sustained gains. Moving forward, we intend to adjust our asset allocation as part of an overall effort to manage volatility and meet targeted returns.<\/p>\n<p>We are grateful to have a remarkable investment committee, consultant and staff with excellent experience and knowledge. Collectively this team is dedicated to achieving CCF\u2019s long-term investment objectives in support of the Foundation\u2019s mission.<\/p>\n<p>STEVEN J. COBB, Chief Financial Officer | ELIZABETH HERN\u00c1NDEZ, Investments Officer<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-1cf0708\" data-id=\"1cf0708\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ef28757 elementor-widget elementor-widget-image\" data-id=\"ef28757\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" data-src=\"https:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/california-community-foundation-investments-pie-chart.png\" data-srcset=\"https:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/california-community-foundation-investments-pie-chart.png 424w, https:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/california-community-foundation-investments-pie-chart-300x289.png 300w\" width=\"424\" height=\"408\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" class=\"attachment-large size-large wp-image-3123 lazyload\" alt=\"\"  sizes=\"(max-width: 424px) 100vw, 424px\" \/><noscript><img decoding=\"async\" width=\"424\" height=\"408\" src=\"https:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/california-community-foundation-investments-pie-chart.png\" class=\"attachment-large size-large wp-image-3123\" alt=\"\" srcset=\"https:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/california-community-foundation-investments-pie-chart.png 424w, https:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/california-community-foundation-investments-pie-chart-300x289.png 300w\" sizes=\"(max-width: 424px) 100vw, 424px\"><\/noscript>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6288f54 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6288f54\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-8a6317a\" data-id=\"8a6317a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e1d03f7 elementor-widget elementor-widget-text-editor\" data-id=\"e1d03f7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tINVESTMENT STRATEGY\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c5f33da elementor-widget elementor-widget-text-editor\" data-id=\"c5f33da\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>We and our donors seek to address the needs of today while upholding charitable<br \/>legacies for generations to come, so we invest both for now and for the future. In partnership with our trusted advisors and experts, we seek to ensure long-term growth, and the prudent fiscal stewardship of our donors\u2019 funds and legacies is our top priority.<\/p><p>We have honed our investment strategies over more than a century, and our four funds<br \/>are each managed with individual objectives designed to align with the grantmaking horizon of our donors\u2014from short-term grantmaking to the creation of a permanent endowment.<\/p><p>In addition, CCF\u2019s Charitable Asset Management Partnership (ChAMP) provides a<br \/>customized investment solution by providing donors whose funds meet certain criteria to<br \/>recommend a registered investment advisor of their choosing to manage the assets of<br \/>their Donor Advised Fund.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-4af34fc\" data-id=\"4af34fc\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f1e624b elementor-widget elementor-widget-text-editor\" data-id=\"f1e624b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>ENDOWMENT<br \/>POOL ALLOCATION<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-21542d9 elementor-widget elementor-widget-text-editor\" data-id=\"21542d9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Endowment Pool is invested over an indefinite time horizon, achieving favorable long-term returns while also allowing for a<br \/>reasonable level of short-term volatility. The global equity allocation seeks diversification<br \/>through investments in U.S. equities and non-U.S. equities as well as private equity. Real assets include both public and private investments in natural resources, infrastructure and real estate. Lastly, the hedge fund allocation is invested across multiple strategies.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-762a230 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"762a230\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c850a46\" data-id=\"c850a46\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6876afd elementor-widget elementor-widget-spacer\" data-id=\"6876afd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e9409a elementor-widget elementor-widget-text-editor\" data-id=\"6e9409a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h1 style=\"text-align: left;\">POOLS + ASSETS<span style=\"color: #191818 !important; font-size: 18px !important; letter-spacing: 0px !important; text-transform: none !important;\">\nAs of 6\/30\/21 (in thousands)<\/span><\/h1>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-54e0b31 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"54e0b31\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-934b21a\" data-id=\"934b21a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-870f202\" data-id=\"870f202\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ae59832 elementor-hidden-mobile elementor-widget elementor-widget-text-editor\" data-id=\"ae59832\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\">DESCRIPTION<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-8180108\" data-id=\"8180108\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-44df5c0 elementor-hidden-mobile elementor-widget elementor-widget-text-editor\" data-id=\"44df5c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\">OBJECTIVE<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-39f4334 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"39f4334\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-b633373\" data-id=\"b633373\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3e9bc4f elementor-widget elementor-widget-text-editor\" data-id=\"3e9bc4f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><span style=\"font-size: 26px; font-weight: 600;\">1<\/span><br \/>ENDOWMENT<br \/>POOL<br \/><span style=\"color: #008696;\">Investment Assets:<br \/>$1,384,385,635<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-0b45b30\" data-id=\"0b45b30\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eca9988 elementor-widget elementor-widget-text-editor\" data-id=\"eca9988\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Seeks to achieve long-term growth, preserving the purchasing power of assets over an indefinite time horizon and providing a relatively predictable, stable stream of distributions that keep pace with inflation over time.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-4db6af4\" data-id=\"4db6af4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-66cdac6 elementor-widget elementor-widget-text-editor\" data-id=\"66cdac6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Invested for long-term appreciation<br \/>across multiple asset classes. Our investment committee, investment staff and investment consultant oversee this pool.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-54d4a07 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"54d4a07\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-d7e4bd1\" data-id=\"d7e4bd1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-56a839a elementor-widget elementor-widget-text-editor\" data-id=\"56a839a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><span style=\"font-size: 26px; font-weight: 600;\">2<\/span><br \/>SOCIAL IMPACT<br \/>ENDOWMENT POOL<br \/><span style=\"color: #008696;\">Investment Assets:<br \/>$42,286<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-7e51edf\" data-id=\"7e51edf\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6a103c8 elementor-widget elementor-widget-text-editor\" data-id=\"6a103c8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Aims to achieve long-term growth over an indefinite time horizon, but also adds rigorous environmental, social and governance (ESG) analysis as an additional mandate.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-ec2259f\" data-id=\"ec2259f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d224c6a elementor-widget elementor-widget-text-editor\" data-id=\"d224c6a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Invested in the Vanguard FTSE Social Index fund and Community Capital Management fund, two mutual funds with multiple social screens and a long-term objective.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7059d10 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7059d10\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-e332c37\" data-id=\"e332c37\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3424314 elementor-widget elementor-widget-text-editor\" data-id=\"3424314\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><span style=\"font-size: 26px; font-weight: 600;\">3<\/span><br \/>CONSERVATIVE<br \/>BALANCED POOL<br \/><span style=\"color: #008696;\">Investment Assets:<br \/>$38,314<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-f7199a4\" data-id=\"f7199a4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-22987bc elementor-widget elementor-widget-text-editor\" data-id=\"22987bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Offers diversified exposure to investment grade fixed income with maturities from 1-5 years and to the entire U.S. equity market for purposes of grantmaking over an intermediate horizon, generally 3-7 years.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-e3dee46\" data-id=\"e3dee46\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b6b070e elementor-widget elementor-widget-text-editor\" data-id=\"b6b070e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Invested to seek moderate growth while providing the liquidity needed for grantmaking over the intermediate term. Management for this pool is provided by Vanguard.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-d02a3cf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d02a3cf\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-329d17f\" data-id=\"329d17f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6fdcbb1 elementor-widget elementor-widget-text-editor\" data-id=\"6fdcbb1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><span style=\"font-size: 26px; font-weight: 600;\">4<\/span><br \/>CAPITAL<br \/>PRESERVATION POOL<br \/><span style=\"color: #008696;\">Investment Assets:<br \/>$269,208<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-2c53f8e\" data-id=\"2c53f8e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a19c0bc elementor-widget elementor-widget-text-editor\" data-id=\"a19c0bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Endeavors to preserve principal, ensure liquidity and provide working funds for present and future needs through investment in high-quality, short-term fixed income and cash instruments.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-54939db\" data-id=\"54939db\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-003b67e elementor-widget elementor-widget-text-editor\" data-id=\"003b67e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Invested to meet the needs of funds with short-term objectives or goals. Structured to ensure maximum liquidity for grantmaking while also seeking to preserve principal. This pool is managed by our long-term<br \/>partner City National Bank.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a2f4493 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a2f4493\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c4519f9\" data-id=\"c4519f9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4c13445 elementor-widget elementor-widget-text-editor\" data-id=\"4c13445\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h1 style=\"text-align: left;\">INVESTMENT PERFORMANCE<\/h1>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a2262c5 elementor-widget elementor-widget-text-editor\" data-id=\"a2262c5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>(for periods ending June 30)<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-342b5ac elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"342b5ac\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-67c3e31\" data-id=\"67c3e31\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-13f2e0d financials-overview financial-tables elementor-widget elementor-widget-html\" data-id=\"13f2e0d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<table width=\"100%\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\r\n    <tbody>\r\n        <tr>\r\n            <td>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    1 YEAR\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    3 YEAR\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    5 YEAR\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    10 YEAR\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr class=\"orange\">\r\n            <td>\r\n                <p>\r\n                    Endowment Pool\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    25.6%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    9.9%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    10.3%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    7.0%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr>\r\n            <td>\r\n                <p>\r\n                    50% MSCI ACWI \/ 14% HFR FOF \/ 14% S&amp;P Real Assets Index\r\n                    \/ 15% Barc Agg. \/ 7% Barc High Yield\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    27.1%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    10.7%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    10.0%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    6.8%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr>\r\n            <td>\r\n                <p>\r\n                    Colonial Consulting &amp; FAOG Community Foundation Survey\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    31.8%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    11.2%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    11.2%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    8.1%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr class=\"orange\">\r\n            <td>\r\n                <p>\r\n                    Social Impact Endowment Pool \r\n                    (inception date: 1\/1\/2004)\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    24.8%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    13.9%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    11.7%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    8.5%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr>\r\n            <td>\r\n                <p>\r\n                    65% S&amp;P 500 \/ 35% BCAgg\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    25.1%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    14.5%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    12.4%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    10.6%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr class=\"orange\">\r\n            <td>\r\n                <p>\r\n                    Conservative Balanced Pool \r\n                    (inception date: 10\/1\/2013)\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    12.5%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    8.0%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    6.7%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    -\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr>\r\n            <td>\r\n                <p>\r\n                    30% CRSP U.S. Total Market Index \/ 70% Barclays U.S. 1-5\r\n                    Year Government\/Credit Float Adjusted Index\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    12.3%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    8.4%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    6.9%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    -\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr  class=\"orange\">\r\n            <td>\r\n                <p>\r\n                    Capital Preservation Pool \r\n                    (inception date: 1\/1\/2002)\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    0.2%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    1.5%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    1.2%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    0.7%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n        <tr>\r\n            <td>\r\n                <p>\r\n                    Bank of America ML 91-Day T-Bills\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    0.1%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    1.3%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    1.1%\r\n                <\/p>\r\n            <\/td>\r\n            <td>\r\n                <p>\r\n                    0.6%\r\n                <\/p>\r\n            <\/td>\r\n        <\/tr>\r\n    <\/tbody>\r\n<\/table>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4738cfc8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4738cfc8\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5a5f9881\" data-id=\"5a5f9881\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-75743050 elementor-widget elementor-widget-text-editor\" data-id=\"75743050\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\">ADDITIONAL REPORTS<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7f459ede elementor-widget elementor-widget-image\" data-id=\"7f459ede\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" data-src=\"https:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/yellow-line-separator.png\" width=\"60\" height=\"6\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" class=\"attachment-large size-large wp-image-2211 lazyload\" alt=\"\" \/><noscript><img loading=\"lazy\" decoding=\"async\" width=\"60\" height=\"6\" src=\"https:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/yellow-line-separator.png\" class=\"attachment-large size-large wp-image-2211\" alt=\"\"><\/noscript>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-31fbcbd6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"31fbcbd6\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-thegem\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-68cd2b38\" data-id=\"68cd2b38\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7c8c1934 elementor-widget elementor-widget-text-editor\" data-id=\"7c8c1934\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><a href=\"https:\/\/www.calfund.org\/2021annualreport\/grant-overview\/\">GRANTMAKING<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-22a0825e elementor-widget elementor-widget-text-editor\" data-id=\"22a0825e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><a href=\"https:\/\/www.calfund.org\/2021annualreport\/grant-overview\/\">Every year, the CCF and our donors help transform the lives and futures of tens of thousands of people, in Los Angeles County and around the world.<\/a><\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-168668fc read-more-btn elementor-widget elementor-widget-text-editor\" data-id=\"168668fc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><a href=\"https:\/\/www.calfund.org\/2021annualreport\/grant-overview\/\" data-wplink-edit=\"true\">Read More <img loading=\"lazy\" decoding=\"async\" data-src=\"http:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/arrow_forward_yellow.png\" class=\"alignnone size-full wp-image-2060 lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" alt=\"\" width=\"32\" height=\"17\" \/><noscript><img loading=\"lazy\" decoding=\"async\" data-src=\"http:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/arrow_forward_yellow.png\" class=\"alignnone size-full wp-image-2060 lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" alt=\"\" width=\"32\" height=\"17\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2060\" src=\"http:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/arrow_forward_yellow.png\" alt=\"\" width=\"32\" height=\"17\"><\/noscript><\/noscript><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-19839265\" data-id=\"19839265\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1bd9df2f elementor-widget elementor-widget-text-editor\" data-id=\"1bd9df2f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><a href=\"https:\/\/www.calfund.org\/2021annualreport\/financials\/\">FINANCIALS<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d664656 elementor-widget elementor-widget-text-editor\" data-id=\"7d664656\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2><a href=\"https:\/\/www.calfund.org\/2021annualreport\/financials\/\">The continued generous contributions from our donors and foundation partners has led to an over $713 million increase in assets from June 30, 2021&#8230;<\/a><\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1e8706a read-more-btn elementor-widget elementor-widget-text-editor\" data-id=\"1e8706a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: center;\"><a href=\"https:\/\/www.calfund.org\/2021annualreport\/financials\/\" data-wplink-edit=\"true\">Read More <img loading=\"lazy\" decoding=\"async\" data-src=\"http:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/arrow_forward_yellow.png\" class=\"alignnone size-full wp-image-2060 lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" alt=\"\" width=\"32\" height=\"17\" \/><noscript><img loading=\"lazy\" decoding=\"async\" data-src=\"http:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/arrow_forward_yellow.png\" class=\"alignnone size-full wp-image-2060 lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" alt=\"\" width=\"32\" height=\"17\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2060\" src=\"http:\/\/www.calfund.org\/2021annualreport\/wp-content\/uploads\/2021\/11\/arrow_forward_yellow.png\" alt=\"\" width=\"32\" height=\"17\"><\/noscript><\/noscript><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>INVESTMENT POOLS + STRATEGY CCF has served Los Angeles for over 100 years. To ensure we continue making an impact&#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-fullwidth.php","meta":{"footnotes":""},"class_list":["post-3110","page","type-page","status-publish"],"_links":{"self":[{"href":"https:\/\/www.calfund.org\/2021annualreport\/wp-json\/wp\/v2\/pages\/3110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.calfund.org\/2021annualreport\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.calfund.org\/2021annualreport\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.calfund.org\/2021annualreport\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.calfund.org\/2021annualreport\/wp-json\/wp\/v2\/comments?post=3110"}],"version-history":[{"count":136,"href":"https:\/\/www.calfund.org\/2021annualreport\/wp-json\/wp\/v2\/pages\/3110\/revisions"}],"predecessor-version":[{"id":4103,"href":"https:\/\/www.calfund.org\/2021annualreport\/wp-json\/wp\/v2\/pages\/3110\/revisions\/4103"}],"wp:attachment":[{"href":"https:\/\/www.calfund.org\/2021annualreport\/wp-json\/wp\/v2\/media?parent=3110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}