CCF-LA November Newsletter is here!

CCF-LA News | November 16, 2023

A Time to Remember.....

Kathy Anderson

President and Executive Director

This November holds a special place for our CCF-LA staff in remembering our beloved Matthew Hansen who served our mission with grace, commitment and compassion as our General Counsel and head of our operations. I could never have imagined that he would be the subject of this month’s featured article from me.

Matthew was just 50 years old and taken from us and his family far too soon. He loved the CCF-LA mission around managing philanthropy and was happy to take his law firm experience and put it to work in our non-profit operations. I remember bringing Matthew into this position. He was on our Development Committee for a few years to help us with planned giving and estates. Thinking about the need for in-house counsel, he helped me write the position description and we both agreed that he was perfect for us.

The decision to move to CCF-LA was something he discussed with his wife Ramis and their two young children, with all agreeing that working at CCF-LA was how best Matthew could fulfill his goals to support his Church in a meaningful way. Matthew was instrumental in managing our governance and everything else from our fund documents, our employee benefits, our recruitment, managing the IT and our facilities.

God took his faithful servant on October 22^nd.Matthew left behind a legacy at CCF-LA and in his family. He believed and lived his life with God and Church first, he adored his family, he was there for his friends, and he found his calling at CCF-LA where he made a huge difference.

May God grant Matthew eternal rest in heaven with all the saints.

Matthew's Wishes....in his own words.

As we approach the Christmas season, charitable giving comes to mind. It is not only a time of generosity to our friends and families, but an opportunity to reflect on our achievements over the past year, and an important time to plan for a new year.

As you consider making plans for next years’ gifts, consider opening a Donor Advised Fund (DAF). A DAF offers a flexible and tax-efficient way to carry out your philanthropic goals and control your annual giving. The charitable giving deduction for 2023 is 60 percent of AGI for cash contributions held for over a year, and 30 percent of AGI for non-cash assets. DAFs offer a convenient way to manage your year-end gifts. By making a gift to a DAF at CCF-LA, you get an immediate tax deduction, while maintaining control and flexibility to recommend grants over time.

You may also want to consider making a gift of an IRA qualified charitable distribution (QCD). One of the primary benefits of an IRA QCD is the tax advantages it offers. With an IRA QCD, individuals can donate a portion of their IRA directly to a qualified charity without incurring taxes on the distributed amount.

While you cannot make an IRA QCD to a donor advised fund, you can make the IRA QCD to CCF-LA for its general support.

Consider also donating appreciated assets such as stocks, bonds, mutual funds or real property. By donating appreciated assets, you can avoid capital gains taxes while still receiving a tax deduction for its fair market value. You should consult with your financial planner or tax profession to understand the tax implications and requirements for donating appreciated assets.

Matthew Hansen †

Featured Funds

Make a Difference for Our Clients

(These funds are in honor of T. Matthew Hansen)

The T. Matthew Hansen Memorial Fund

For the benefit of Latino students attending Catholic schools located in the Archdiocese of Los Angeles

Youth Mentoring Fund

Primary program of Catholic Big Brothers and Big Sisters of

Los Angeles

Financial Market Updates

The Balanced Pool portfolio returned -2.83% (net of fees) in the month of October and +2.45% for the ten months ending October 31, 2023. The Intermediate Fund pool returned -0.04% for the month and +5.20% so far this year. The estimated annual yield on the Short-Term Investment Fund account is currently +5.27%. These portfolios are carefully monitored by our Investment Committee, our individual managers, our finance department staff, and our investment advisor.

Capital markets declined further in October driven by increased geopolitical risks and the prospect of higher yields for longer. The U.S. equity market, as measured by the S&P 500 Index, was down -2.1% for October, continuing September’s downward trend. Within the S&P 500, Utilities was the only positive sector (+1.3%) while Energy (-6.0%) was the main laggard. Year-to-date, the S&P 500 remains up 10.7%. Large cap stocks outperformed their small cap counterparts for the month, with the Russell 1000 Index returning -2.4% and the Russell 2000 Index returning -6.8%. Developed International Equity markets, as measured by the MSCI EAFE Index, returned -4.0%. The stronger U.S. dollar weighed on returns. In Fixed Income, the Bloomberg US Aggregate Bond Index fell -1.6% in October as the 10-year U.S. Treasury rose 36 basis points.

Please reach out to Armando Nevarez, our Controller and Assistant Treasurer,

with any questions.

Armando Nevarez

Controller and Assistant Treasurer

Events

Bach to Broadway

The annual Bach to Broadway Concert Friday, October 13^th at St. Andrew Church in Pasadena was a fun-filled event with performances from the Los Angeles Children’s Chorus & members of the LA Master Chorale and LA Opera. Proceeds are used to maintain and preserve this very beautiful church in Pasadena. Kathy Anderson, Howard Anderson, Jimmy Ozaeta and Linda Beavan (CCF-LA Development Committee Member) attended this lovely event.

Archdiocese Legacy Mass

The Archdiocese Legacy Society Mass and Luncheon was held on October 29^th at the Cathedral of Our Lady of Angels. Bishop Albert Bahhuth was presiding at Mass and addressed about 150 guests of the Legacy Society at the luncheon, which included several of our CCF-LA clients. Kathy Anderson and Jimmy Ozaeta attended, and Kathy provided the closing prayer with a tribute to Matthew Hansen, who served faithfully on the Planned Giving Committee of the Archdiocese until his death on October 22^nd.

Archival Center Tour

The CCF-LA Development Committee held their Year-End meeting at the San Fernando Mission. Thank you Tod Tamberg (Executive Director of the Archives and San Fernando Mission) for the amazing tour and access to breathtaking artifacts.

Aladdin: Dual Language Edition Performance

Jimmy Ozaeta attended the Aladdin: Dual Language Edition performance Thursday, November 2^nd at Cathedral High School’s Richard A. Grant Theatre. The performance was a collaboration between Cathedral High School, Sacred Heart, and Ramona Convent Secondary School. The young leaders did an amazing job for the capacity crowd.

All Saints Day Luncheon

For CCF-LA these past few weeks have been very difficult losing a key player on our team, Matthew Hansen our General Counsel. He enjoyed participating in our celebrations, food, games and friendship! These celebrations are important to our culture, and Matthew's presence was with us on All Saints Day.

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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.

Catholic Community Foundation of LA I CatholicCF-LA.org | (213) 426-1180