News From CCF-LA | January 20, 2022
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A new year, a new attitude!
As we like to say, the attitude is gratitude, but this year let’s take it a step further and think about the personal attitude of being more compassionate and understanding of one another.
During these past two years, we all know of people who have lost their jobs, are homeless, can’t afford tuition payments, need help feeding their families, or are struggling with gas and electric bills. They all need our compassion first, and then our understanding is demonstrated through our financial support.
At CCF-LA we make it easy to support your favorite charities by making grants from donor-advised and designated funds.
Just last month during the Christmas season we issued 140 grants from our growing list of charitable funds. These grants were made to organizations aligned with our values and not necessarily Catholic per se and were initiated—online, by phone, by email—by our clients and handled within a matter of days by our client-services team.
For the full year, we issued 513 grants, over 100 more than the previous year! These grants were valued at over $50 million. This level of granting activity inspired our staff to be even more engaged and grateful to be actively involved in our philanthropy management business. Many of our staff were included in these numbers by making grants from their own charitable funds with us.
Let’s keep this spirit of Christmas giving alive all year. Taking the step of being more compassionate and understanding of people we know and don’t know leads us to a place of inner peace and joy knowing that we have shared our blessings with those that need them most.
— Kathy Anderson
President and Executive Director
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Multigenerational giving is easy at CCF-LA
Molly Laing believes giving makes a stronger community, and she knows giving is easier through her CCF-LA donor-advised fund. Molly explained that through her DAF she easily allocates funds according to her personal philanthropy goals and earns tax-free returns, which increases her giving dollars and avoids professional fees and costs.
Molly trusts CCF-LA to manage her giving according to her values and goals. CCF-LA client services vet charities, recommend new charities, and ensure grants and deposits are promptly executed. She also appreciates the Catholic-minded synergy—both big C and little c—at CCF-LA and the favorable investment returns.
“Right now is an especially wonderful time to focus on giving because it is a means to connect with others when at this moment in time so much is unknown. It is a way to reach out and share love with others in a very rewarding way.”
Molly’s giving is generational as her daughters, Emilia and Evelyn, share her compassion. They feel connected when they can give of their time, treasure, and talent. Next week, Emilia will visit hearing-impaired students at the John Tracy Clinic, a beneficiary of the Molly Laing Family Fund. The clinic, founded by the iconic actor Spencer Tracy, is the leading diagnostic and education center for young children with hearing loss.
The Molly Laing Family Fund also supports the Archdiocese of Los Angeles Call to Renew Campaign, the American Martyrs School Annual Appeal, the U.B. Kinsey Educational and Community Center in West Palm Beach, Florida, and Charity: Water and Mercy Ships.
Thank you Molly for your generosity and your confidence in us!
— Margaret Byrne
Director of Client Developmen
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From the Desk of the CFO
Despite the surge in omicron infections, sticky inflation, and central bank policy tightening, equity markets were generally positive for the month of December. January, thus far, has been a different story as we have seen more volatility. Last year’s performance was bolstered by strong earnings growth, signals that the supply-chain pressures were being addressed, and consumer and housing sectors that remained strong. International stocks performed well in December while fixed income (as measured by the Bloomberg US Aggregate Bond Index) declined slightly.
Our Balanced Pool portfolio returned +2.67% in December and +12.18% for calendar year 2021. The Intermediate Fund returned +1.35% for the month and +7.97% for last year. The current yields on the STIF and Cash accounts remain at +0.02%–0.05%. The Investment Committee and our investment adviser continue to monitor the effectiveness of the fund’s strategy in this ever-changing market environment. With our eye on the future, we continue to work closely with our fund adviser and managers in the pooled funds. Historical data continue to reflect the importance of having a balanced portfolio and staying the course during turbulent times.
Please don't hesitate to contact me if you have any questions.
— Andrew O'Boyle
Chief Financial Officer and Treasurer
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Another Record-Breaking Year for CCF-LA
Our preliminary, unaudited results for 2021 reflect a record year of performance, particularly in new business developed and number of client transactions handled by our talented, friendly, and efficient team.
Our development team brought in 60 new charitable and agency accounts and processed over 400 charitable contributions totaling over $150 million. Our new clients will find giving to worthy causes much easier with the support of CCF-LA.
In a year of the pandemic, the team also processed over 500 grants, a 25 percent increase over the prior year’s 399 grants, representing over $50 million in impact in our communities. All grants were made to Catholic, religious-exempt, or other charities closely aligned with Catholic values, making a significant impact on the economic, social, and spiritual needs of people across the country.
I want to personally thank our generous and caring clients and our entire CCF-LA team for all the good work they do for so many! — Ed Roohan, Board Vice Chair and Chair of the Development Committee
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Dan Murphy Foundation Establishes Children’s Choir Endowment
The Dan Murphy Foundation honored Richard Grant by establishing a $1 million endowment to fund the operations of the Children’s Choir at the Cathedral of Our Lady of the Angels. Establishing a children’s choir was Richard’s long-term aspiration and, in fact, he set up a fund early this year with CCF-LA to seed the program.
Richard recently retired as Chairman of the Board of the Dan Murphy Foundation, where he had five decades of service overseeing hundreds of millions of dollars granted to primarily Catholic organizations and causes throughout the Archdiocese of Los Angeles, including the construction of the Cathedral, support for Catholic-high-school maintenance, the seminary, and Catholic colleges.
The choir held its inaugural performance at the Christmas Eve children’s mass celebrated by Archbishop Jose H. Gomez at the Cathedral to a full crowd, including Richard and Maria Grant and their family, members of the Dan Murphy Foundation Board, Board and staff of CCF-LA and other special guests. Choir director Joseph Bazyouros expressed appreciation on behalf of the choir members and their families for the grant that made this performance possible while ensuring the future of the program.
Choir members range from grades 4 through 9 and come from across the Archdiocese, practicing weekly at the Cathedral. The choir is a wonderful example of bringing community and parish life to families that attend the Cathedral. — Kathy Anderson, President and Executive Director
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Welcome to CCF-LA!
New client funds: Oct. 1 through Dec 31, 2021
Annunciation Melkite Investments—Agency Fund
Arbor Family Wellness Village—Agency Fund
Lilly Endowment MAPM Project—Agency Fund
SJS Surplus/Capital Projects—Agency Fund
Agape Fund—Donor-Advised Fund
Burrill Family Fund—Donor-Advised Fund
Margaret and Andrew Byrne Family Fund—Donor-Advised Fund
Ferry Grandchildren Legacy Fund–Hannah Orem—Donor-Advised Fund
Robert and Lorraine Hodges Charitable Fund—Donor-Advised Fund
Molly Laing Family Fund—Donor-Advised Fund
Michael J. Maloney Charitable Legacy Shamrock Fund—Donor-Advised Fund
Matthew H. Moreno Family Fund—Donor-Advised Fund
Tim Ryan Memorial Charitable Fund—Donor-Advised Fund
Raul and Maria Salinas Family Fund—Donor-Advised Fund
Shea Foundation Fund—Donor-Advised Fund
Tilton Family Fund—Donor-Advised Fund
Valdez Family Fund—Donor-Advised Fund
Tim Staples Memorial Scholarship Fund—Scholarship Fund
Howard Anderson Mission Paintings Preservation Fund—Temporarily Restricted
Archdiocese of Los Angeles Housing Fund—Temporarily Restricted
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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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