CCF-LA News | December 15, 2022 | |
Your Gift of Love brings Hope to the World | |
As we wind down this difficult calendar year, hope is coming in the birth of Jesus. He is the gift of love from God the father that has transcended over 2,000 years to truly change the world. His own very positive message of love for God, your neighbor, and self is at the very heart of what we believe and how we act as Christians.
Following these simple truths, our hope is in the promise of a good life and even more, an eternal life. That’s why at Christmas we express our love in the gifts we have for family and friends, in the extra time we make for mass and prayer, and in the acts of charity and volunteerism we have for the homeless, the lonely and the sick.
The numbers of people that need our prayers and our love grow every day. A drive to work reveals many street populations living in tents and increasingly long food bank lines, all reflective of reduced public services available to those in need. Sunday mass attendance reflects the decrease in our Catholic faithful who have learned to live with zoom mass or no mass at all during the pandemic. Catholic school attendance is still lagging the pre-pandemic levels because families are balancing their budgets for tuition payments in this inflationary time and need to relocate for more affordable living conditions.
As we celebrate the birth of Jesus this Christmas, know that the message of love is manifested in our relationships with God, our family, our neighbors, and self. In this difficult year, taking a little more time to reflect and act on how your gifts bring hope will make a beautiful Christmas Day for you, your loved ones and those you do not know. That’s because your unconditional gift of love can bring hope to our world.
— Kathy H. Anderson
President and Executive Director
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What a Difference
December can Make!
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This year was truly one for the books. We started out January 1st with $615 million in assets under management. The ups and downs of the stock market and the unusually large number of grants so far this year have resulted in about $550.6 million as of November 30. While we have the month of December ahead, it is likely that this will be our first year to experience a reduction in assets.
That’s not all bad news! The markets contributed to some of this with a YTD loss as of November 30 of 13.26% in our Balanced Pool and 6.79% in our Intermediate Fund; it’s also the impact of our grants that put pressure on the assets, but they tell the best story. So far, we issued $69.9 million in grants this year, which compares to $50.2 million for all last year. And we still have December ahead!
Our Board, the staff, the security of our operations, and the mission of CCF-LA all contributed to the fact that we are in a very good position to end the year with a great December result. As in previous years, as much as two-thirds of our deposits are received between Thanksgiving and December.
Some of the other achievements this year that have us well-positioned for 2023 include the creation of two new departments—the Client Services Department headed by Tania Naaman with Janette Gordo and our Marketing Department headed by Norma Hernandez with Bonnie Peralta. Both new departments compliment the front-line efforts of Maggie Byrne, Head of Development and Kara Duncan, Director of the Family Office.
We also strengthened our Finance Team under CFO, Andrew O’Boyle by recruiting Armando Nevarez as Controller. As we grow, it’s important to maintain excellent client services, relationships, and fund management — that’s our line of business.
This is one year when December will make a difference. As we celebrate Christmas, let’s remember all the grants made by CCF-LA and its clients that benefited Catholic schools, religious orders, the homeless, social services and the hungry. For this we are most proud.
— William M. Wardlaw
Partner (Retired)
Freeman Spogli & Co.
Chairman
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Kevin P. Bender
Executive Managing Director, Jones Lang LaSalle Brokerage, Inc.
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Welcome Kevin P. Bender,
New Board of Director
Kevin is an Executive Managing Director for Jones Lang LaSalle Brokerage, Inc. (JLL) in Southern California and brings over 27 years of real estate experience representing tenants in leasing, acquisition, and disposition of commercial office properties, and office lease transactions.
Kevin is a long-time supporter of Catholic institutions. A graduate of Loyola High School (class of 1991), Kevin currently serves as a Director on its Board. Kevin also supports his local parish by leading St. Bede the Venerable’s Call to Renew campaign.
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Capital markets continued their rally in November with equity markets posting strong gains despite ongoing headwinds. Investor sentiment improved significantly in November after the release of U.S. inflation numbers while inflationary concerns persisted with the Federal Reserve increasing interest rates 50 basis points at its December meeting.
The S&P 500 Index rallied 5.6% for the month of November, reducing its year-to-date losses to 13.1%. Global ex-U.S. markets had another strong month, as measured by the MSCI EAFE Index returning 11.3% for November. Fixed Income returns were positive after three consecutive months of negative ones - the Bloomberg US Aggregate Bond Index posted its strongest monthly return of the year, up 3.7% for November. In addition, the US yield curve retreated significantly, moderating the overall upward shift in the curve.
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As for the pooled funds we manage, the Balanced Pool portfolio realized a +5.82% return (net of fees) in the month of November and -13.26% for the first eleven months of 2022 and the Intermediate Fund pool returned +2.11% for the month and -6.79% so far this year. The estimated annual yield on the STIF account has improved to +3.15%.
— Andrew O'Boyle
Chief Financial Officer and Treasurer
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The Catholic Community Foundation of Los Angeles (CCF-LA) helps clients easily give more and save more. When clients give to their CCF-LA Charitable Fund, they are eligible for an immediate tax donation credit and their contribution grows through their chosen investment fund. We support our agency fund clients through sophisticated investment management, easy ways to donate, and helpful information to support their organizations. Most importantly, our staff believes in our mission to empower clients to develop and sustain their philanthropy in support of Catholic values.
So far this year, we have opened a record breaking 47 new accounts and issued 616 grants for a total of $69.9M. We are one of the fastest growing Catholic Community Foundation!
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Maggie Byrne
Head of Development and Assistant Treasurer
| You may reach Maggie: [email protected] for more information about how CCF-LA can support you or your organization. | |
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Kara Duncan
Director, Family Office
| Contact: Kara Duncan: [email protected] | |
Helping Clients with their
Year-End Giving this Holiday Season
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The End of the Year is an especially busy time for the Family Office. The holidays are when families get together and many have conversations about their future charitable plans. We encourage our clients to take this time to share their philanthropic goals with their families and have meaningful discussions around the importance of giving.
We not only see a big increase in grant activity for the Christmas season, but we are also helping our clients with their year-end giving and helping future clients understand their charitable options through CCF-LA.
In recent weeks we have been having more conversations around options for family philanthropy, including utilizing Family Office services to engage and educate the next generations on how to give efficiently and meaningfully, and finding unique solutions for family giving and family foundations.
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Client Experience and the
Gifts of Hope
“There are those who give with joy, and that joy is their reward” – Kahlil Gibran
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There is something about giving, no matter what time of year, that brings inner joy. The gift of working with CCF-LA is to experience joy in knowing that your generous deeds brought — and will continue to bring — ongoing hope to individuals in need in our local communities, in a way commensurate with your expectations and intentions.
Whether you are opening a Donor-Advised Fund (DAF), making a grant to your favorite charity, or contributing to a Designated Fund you will receive from CCF-LA the courtesy, care, and personalized service worthy of your donations. Plus, our experience ensures that your generosity and intentions become reality, as you intended.
When a client reaches us by phone, e-mail, or the CCF-LA online portal available 24/7, we issue each grant promptly on request. We then send both our client and the beneficiary a custom letter containing all the details of the grant. We also take care to send a special advice letter when a gift is made in honor or memory of someone.
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At CCF-LA, by delivering excellent client service we commit to being your trusted partner in your philanthropic endeavors and a reliable channel of your gifts of hope.
Merry Christmas, and may you always be filled with the Hope of Christmas, and may you rejoice in spreading that hope to those most in need.
— Tania Naaman
Director of Client Services and Assistant Secretary
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November Grant Beneficiaries
This year was an exceptional year in grant making. Our mission to manage philanthropic assets starts with trust and transparency our clients expect from us in investment manage
In the month of November we issued 64 grants valued at $4.3M to beneficiaries aligned with our values.
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Vision to Learn Named 2022 Kristof Holiday Impact Prize Honoree
Every year since 2009, Pulitzer Prize-winning New York Times Columnist Nicholas Kristof has written a “holiday gift guide” column to support little known organizations working to make the world a better place. The Kristof Holiday Impact Prize connects readers interested in philanthropic giving to causes worthy of their support.
Vision To Learn (VTL) is honored to be a 2022 Holiday Impact Prize honoree and is a grant recipient of CCF-LA. Funds raised from this award will help tens of thousands more students get the vision screenings, eye exams and glasses they need to succeed in school, and in life.
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Data Security—Our Promise to You | |
CCF-LA continues to keep its promise to protect client data by keeping its data security plan up to date. This includes moving from a server to a cloud-based data retention system based in the United States, engaging outside security consultants to monitor and fight hackers, instituting in-house security measures to protect our clients’ data, engaging in regular training of our staff members to identify security threats in real time, and to work with our outsourced partners to enhance our own security systems.
Our promise is to be responsible stewards of our clients charitable funds and to continue to be vigilant against data security.
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T. Matthew Hansen, Esq.
General Counsel,
Sr. Director of Operations and Corporate Secretary
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CLIENTS AND EVENTS WE SUPPORT | |
We support our client's events through our attendance and sponsorship. We are particularly grateful to our donor-clients that purchase table sponsorships and tickets for the attendance by our staff and other clients. | |
DePaul USA Casa Milagrosa's Kermes Fundraiser | |
Depaul USA - Casa Milagrosa is now open and held a Kermes fundraiser, on Fri., Dec. 9, 2022 in Westlake in Los Angeles.
In partnership with Daughters of Charity, Casa Milagrosa on any given day provides case management, hot breakfast and coffee, food distribution events, laundry and shower access, referral medical, dental and vision among other services.
Depaul USA manages Casa Milagrosa Day Resource Center is a welcoming refuge to those affected by homelessness.
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Dominican Sisters Vision of Hope | |
Dominican Sisters Vision of Hope held a special Faith, Friends, and Gratitude Luncheon at the Cathedral of Our Lady of the Angels on Fri., Nov. 18, 2022.
The Dominican Sisters Vision of Hope operates solely to provide quality, affordable Catholic education for the children of their inner-city elementary schools and to ensure a vibrant future of these schools and their communities they serve.
Guest speaker Father Gregory Boyle, Homeboy Industries delivered a message of Hope and our staff was delighted to attend.
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Lou Nevarez 25th Annual Scholarship Dinner | |
Congratulations Cathedral High School on your 25th Annual Lou Nevarez Scholarship Dinner, held on Fri., Nov. 18, 2022 at The Terrace at LA Live.
Cathedral High School serves over 600 young men, who are primarily from low income families living in the oldest neighborhoods and parishes of LA.
Mrs. Petra Nevarez and Armando Nevarez, wife and son respectively of the deceased Lou Nevarez, in whose honor the scholarship was named. Armando is also CCF-LA’s new Controller.
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Catholic Charities
City of Angels Christmas Gala
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Congratulations to Catholic Charities of Los Angeles on your City of Angels Christmas Gala that took place on Fri., Dec. 2, 2022 at The California Club.
Catholic Charities is committed to manifesting Christ’s spirit by collaborating with diverse communities, providing services to the poor and vulnerable, promoting human dignity, and advocating for social justice.
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CALL US LA Chapter Christmas Mass & Dinner | |
Catholic Association for Latino Leadership (CALL) held it's Los Angeles Chapter Christmas mass and dinner celebration held at the Cathedral of our Lady of the Angels on Sat., Dec. 3, 2022.
Archbishop Jose H. Gómez celebrated mass, blessed everyone in attendance, followed by a members only Christmas celebration dinner with Christmas carolers.
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The Big
Christmas Party!
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Catholic Big Brothers Big Sister of LA County brought holiday cheer to underserved youth in Los Angeles on Sat., Dec. 10 at Two Bit Circus in Los Angeles.
Attendees experience a fun-filled day with an arcade and midway games, VR and Story (Escape) rooms, music and dancing, food and of course, gifts from Santa.
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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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