CCF-LA News | September 15, 2023 | |
CCF-LA Receives Angel Business Award from CALL | |
CCF-LA board members were on hand to receive the award, accepted with comments from Edward Roohan. L-R Raul Salinas, Louis Castruccio, Archbishop José Gomez, Carrie Shea Tilton, Bishop-elect Brian Nunes, Robert Boada, Delia Roges, and Edward Roohan | |
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Our foundation, now in its nineth operating year, received the Angel Business Award from the Catholic Association for Latino Leadership on September 9, 2023. This was an amazing accomplishment for bringing a new foundation into being that has to date been entrusted with almost $1 billion in funds to manage on behalf of charitable individuals and organizations. During that same time period, nearly $400 million in grants were made!
We could not have been more proud of our board, our staff and our clients that evening. This award recognized our business model that embraces teamwork, transparency and best operating practices. We will never forget that CCF-LA is a business first!
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Never Too Soon to Plan for Year-end Giving!
As a business, we learn from the past and keep our strategy and our eyes on the future. The year end is just around the corner, and it’s time to think about ways to maximize your charitable giving. This includes a tax planning component and here are a few ideas for you.
1. Take advantage of windfalls by making tax-deductible gifts to your DAF, and if you do not have one, now is the time to set one up. This option also lets you grow your DAF with earnings that are tax free.
2. Consider making a provision in your Will or Trust for your DAF or a charity. We send an advice letter to the beneficiary charity to let them know that you intend on making an estate gift. This is a win-win for you and your charity since they can appreciate you now and you have assurance that the gift will be handled exactly for the purpose you want.
3. If you need to make a required distribution from your IRA this year, call us for ways you can use that distribution to make your philanthropy grow.
Our only business is managing charitable assets and we thank CALL for recognizing us as good stewards of our mission. We stay focused on the future and look for ways to enhance the charitable giving of our clients.
Kathy Anderson
President and Executive Director
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Kathy Anderson
President and Executive Director
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CCF-LA is here to support your giving
CCF-LA is here to support your annual giving needs to maximize the impact of your charity and take advantage of tax deductions. There are a variety of ways to give through designated funds, scholarships, Donor-Advised Funds and more. The CCF-LA staff can help you find the most efficient, and tax-advantageous way of doing so. Below is just one idea.
If you are 70½ or over, the “Protecting Americans from Tax Hikes” (PATCH) Act, it allows you to give individual retirement account (IRA) assets directly to a public charity by way of a Charitable IRA Rollover (Qualified Charitable Distribution) up to a maximum of $100,000 per individual per year. Couples who submit tax returns with married, filing jointly status each qualify for annual Qualified Charitable Distributions of up to $100,000, for a potential total of $200,000. Beginning in 2024, annual Qualified Charitable Distribution limits will be indexed for inflation, allowing you to make even greater gifts to those organizations that you support and love.
There are restrictions: you may use your Qualified Charitable Distribution to support a Designated or Scholarship fund at CCF-LA, but not a gift to your private foundation or your DAF.
It is never too early to start your end of your charitable gifts, and CCF-LA makes it easy to do so through your eligible Qualified Charitable Distribution! Please contact me for more information.
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T. Matthew Hansen
General Counsel
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Year-End Push
As the end of year approaches, we help our clients with their year-end giving. Donations made by a CCF-LA Charitable Fund are eligible for an immediate tax donation credit and their contribution grows through their chosen investment fund. We also support our Agency Fund clients through sophisticated investment management, easy ways to donate, and helpful information to support their organizations.
Join the CCF-LA effort to spread the great joy of giving, please call us if you know an individual or an organization that can benefit from our philanthropic management solutions. We welcome your referral.
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Jimmy Ozaeta
Vice President of Development,
Assistant Treasurer
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It’s all about the budget – a controller’s perspective!
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Armando Nevarez
Controller and Assistant Treasurer
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Achieving excellent results starts with budget assumptions for both business booked and operating expenses. These assumptions cover the remainder of 2023 and all of what we want to accomplish in 2024. Budget line items are guidelines and it is our good practice to account for every line-item expenditure against that guideline, while keeping us focused on our goals.
We are right in the middle of budget season and our Finance Committee is working closely with our staff in this process. Over the next month, we expect a series of meetings to review the assumptions and present our 2024 budget to our Board at its meeting in November. Our best business practices require this level of scrutiny while asking our team to be both realistic and to think about stretch goals.
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The Balanced Pool portfolio returned -2.06% (net of fees) in the month of August and +9.75% for the eight months ending August 31, 2023. The Intermediate Fund pool returned +0.09% for the month and +5.97% so far this year. The estimated annual yield on the Short-Term Investment Fund account is currently +5.25%. These portfolios are carefully monitored by our Investment Committee, our individual managers, our finance department staff, and our Balanced Pool advisor.
These returns generally followed the downward trend in financial markets in August which reflected investors’ concern that the Federal Reserve’s tightening cycle will continue. Large cap stocks outperformed small cap stocks which were on the downside for the month. International Equity markets, as measured by the MSCI EAFE Index, declined -3.8% in August. While interest rates rose during the month, Fixed Income as measured by the Bloomberg US Aggregate Bond Index fell -0.6%.
Please reach out to Andrew O’Boyle, our CFO, with any questions.
Andrew O'Boyle
Chief Financial Officer and Treasurer
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CALL Honorees Dinner
Chairman William Wardlaw, Director Raul Salinas, and their wives attended the CALL honoree’s dinner along with Bishop-elect Brian Nunes on August 18, 2023. as the guest of Archbishop José Gomez at his residence. CALL Executive Director Rosie Chinea Shawver presented the honorees with this beautifully framed print of
Our Lady of Guadalupe.
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The Smet Foundation - Onward Dodger Ballgame
Jimmy Ozaeta attended The Smet Foundation’s Onward event at Dodger Stadium on August 19, 2023. It was a fun-filled event attended by the Onward family. The Smet foundation partners with the Department of Catholic schools in Los Angeles on a variety of programs that benefit students, teachers, principals, and staff.
Thank you, Cindy and John Smet, for believing every person deserves the opportunity to pursue and take part in higher education.
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With gratitude to The Catholic Association for Latino Leadership for honoring us with the
11th Annual Angel Business Award
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L to R: Andrew O'Boyle, Kara Duncan, Tania Naaman, Jodie Alamillo, Kathy Anderson,
Matthew Hansen, Jimmy Ozaeta, Bonnie Peralta, Andres Telo,
Anna-Marie Carpenter and Janette Gordo
Since our inception, CCF-LA has been committed to teaching philanthropy to multiple generations, which in turn helps with the evangelization efforts among young adults. As one of the largest Catholic community foundations in the country, we are blessed to impact lives everyday through the unwavering support of our clients. On behalf of the CCF-LA Board of Directors and staff, THANK YOU for allowing us to empower charitable individuals and organizations across cultures and generations through professional philanthropy management solutions.
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Mission Statement
The Catholic Community Foundation of Los Angeles empowers charitable individuals and organizations across cultures and generations through professional philanthropy management solutions that allow clients to develop and sustain their philanthropy in support of Catholic values.
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