News From CCF-LA | December 17, 2020 |
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Meeting the Challenge
In 2014, a group of us started thinking about a “Catholic community foundation for L.A.” Who among us back then knew those efforts would materialize into the large and vibrant organization that is today the Catholic Community Foundation of Los Angeles?
And could anyone foresee in 2014 the ways in which the Covid-19 pandemic would challenge humankind in 2020? Could we foresee the effect on our Church, on philanthropy in general, and how it would severely affect the well-being of the many communities our foundation serves?
Being part of the CCF-LA team, consisting of the Board of Directors, committees, and staff, really opened my eyes to all that CCF-LA could be when challenged by the events of 2020. In mid-March, its operations went remote, yet CCF-LA continued throughout the year to deliver its hallmark client services. Moreover, we immediately contacted clients and encouraged them to make grants from their Donor-Advised Funds to provide relief for our society’s pains.
As we bring this year to a close, we are encouraged by the philanthropy of our clients and the positive impact of their giving in our communities. We are also strengthened by five solid years of operating performance.
Encouragement and strength together provide the momentum that is moving us to achieve even greater performance and success in 2021.
—Louis M. Castruccio
Vice Chairman of the Board
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Hope and Light
If there is time for joy and hope, it is now. Joy for the birth of Jesus and hope for our world. Let’s not dwell on what we may have missed this year but on what we received and especially what next year will bring because of our faith in the gift of the Christ Child on Christmas.
What did we receive this year? It was a year of reflection—being grateful for the small things that we usually take for granted—like an afternoon spent cleaning out a closet or going through generations of photos. We had time to figure out how best to use our time, and it was a time to go deeper into our hearts and souls and reflect on how we could help those who were suffering from job losses, those sheltered with no connectivity to loved ones, and those with no shelter at all.
It was a time to find deeper connections with our family and friends by challenging us with new ways to communicate. My personal favorite was the marshmallow hug—ask anyone with preschoolers what that means!
At CCF-LA, we experienced an overwhelming spirit of giving and getting this year. It is the experiences of 2020 that propel us with great hope into 2021. We have much to do, and we have Jesus Christ, the light of our world, to guide us.
All of us at CCF-LA never forget that it is you—our clients and beneficiaries—who make that star in the east shine even brighter.
— Kathleen H. Anderson
President and Executive Director
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While the economy has been significantly affected by the COVID-19 pandemic and other societal factors, the equity markets, which took one big hit after another early in 2020, have recovered to what is now pushing all-time highs. The total assets under management by CCF-LA at November 30 was $402.1 million, the largest asset base in our history. The Balanced Pool results (net of fees) for November was a strong 8.98%, which brought the year-to-date returns for the 11 months ending November 30 to 10.44%. Our Intermediate Fund had a monthly return of 3.53% and 6.57% for the 11-month period. Overall, our investment choices throughout the past several years have paid off for our clients and have set us up for continued growth in the future. As always, please contact our client-services team with any questions or requests for additional information.
— Andrew O'Boyle
Chief Financial Officer and Treasurer
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Featured Fund: Society of St. Vincent de Paul |
Did you know that the largest thrift store in Los Angeles is run by a ministry of the Catholic Church? The Society of St. Vincent de Paul of Los Angeles runs the shop that offers a huge selection of clothes and housewares—and even cars—at a deep discount, while providing employment and career training for staff.
Store sales support other ministries of St. Vincent de Paul, including the Cardinal Manning Center for homeless men on Skid Row. The center offers transitional housing alongside case management to help residents find long-term housing, education, job training, and more.
Aiming to “feed, cloth, house, and heal,” the Society of St. Vincent de Paul has been a CCF-LA Agency client since 2018. We are proud to support the essential work of the Vincentians and encourage others to get involved with their many program. Learn more here.
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Year-End Giving — Don't Wait! |
As the end of 2020 quickly approaches, now is the time to think about year-end charitable giving. CCF-LA is ready throughout the coming weeks to handle additional deposits for our clients, as well as new accounts from our Catholic community.
The cutoff for giving tax-deductible charitable giving in 2020 is December 31, 2020.
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Getting Your Coffee Buzz On With Catholic Education Foundation
Coffee with CEF, agency client the California Education Foundation, is a Zoom conference series that gathers educators, donors, and charitable organizations to discuss what’s going on in our Catholic schools. This month, CEF featured another one of our clients, the Saint Sebastian Sports Project. Read more here.
Thank God for the Internet: Streaming Christmas Joy
A silver lining of the current state of the world is the abundance of opportunities to gather and celebrate virtually. We've created a list of places to stream mass and Christmas events during this season. Read more here.
Celebrating the Joy of Volunteering Virtually
Christmas is the season of giving, and many of our donors give not only from their pockets but also by volunteering at shelters, food banks, church and school fundraisers, and more. This year, we’re challenged to be much more creative in the ways we give! Here are a few new ways you and your family can volunteer virtually. Read more here.
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The Catholic Community Foundation of Los Angeles is committed to the prudent management of charitable investments to support the schools, parishes, and ministries that help our neighborhoods thrive in faith. To join our mission to teach and sustain Catholic philanthropy, please contact our Client Development team at (213) 426-1187 or via email.
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