CCF-LA News | October 17, 2022 | |
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This past weekend we lost one of the great Catholic philanthropists of our generation. John Shea passed away at 96 years old. He may be known for his brilliant corporate leadership at the helm of J.F. Shea Corp., but to us he was an unwavering supporter of Catholic school education including building facilities, tuition support, and most recently for a program to increase the compensation of our inner-city teachers.
He was a huge supporter of our work at CCF-LA, and it was our privilege to work with his family and staff in managing the generous philanthropy of the John and Dorothy Shea Charitable Funds. His legacy continues with Dorothy and the family as they continue to put their charitable assets to work to make sure that the most vulnerable students can learn in a safe, updated, and character-building Catholic school experience.
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The Teaching
Moment is Now
It was just about this time eight years ago that we were completing the application for our nonprofit status. During 2014 we created the business plan for a charitable, religious corporation that would provide alternative ways for individuals to be philanthropic while providing other charities with investment options. The original plan added in the importance of teaching philanthropy to multiple generations.
Now is an important teaching moment. As we approach the end of this fiscal year, it’s a critical time to be thinking about the charitable impact we can still make during this fiscal year. So many nonprofits and our Church need our support for their missions to help those most in need. It’s been a rough time for many personally and professionally.
"Teaching philanthropy is all about the great joy of giving and completes our mission as a community foundation.” – Kathy Anderson, President, and Executive Director
While charity is predominantly about compassion, there is a tax element that helps individuals and families become more philanthropic. And there are many ways to give that are tax-deductible– cash, online, credit cards, marketable securities, real property, distributions from an IRA account, complex assets, and bequests.
Philanthropists come in all ages and financial capability. We recognized this in our teaching mission. This involves working with families along the spectrum of their lives and their relationships with their heirs. We created a Family Office for that purpose.
We also created a New Philanthropist Donor-Advised Program (NP DAF), providing the tools for young philanthropists to have their own funds with us at a reduced opening balance and fee.
Now is the time to be thinking about December 31st. Consider making those gifts with the most impact now, and if you need more time to decide, then take advantage of a Donor-Advised Fund (DAF) to make your tax-deductible gifts this year and make grants next year.
Kathy H. Anderson
President and Executive Director
CCF-LA
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This Year, It’s all
About the Grants
Even though this year has been difficult for the financial markets, it has not deterred our clients from making grants that already exceed the amounts we made all of last year.
In our mission to teach philanthropy, we meet with and encourage our clients of all ages to spend from their charitable accounts with us.
“Grant-making is all about impact and feeling good about making a difference.” – Bill Wardlaw, Partner (Ret.), Freeman Spogli & Company, Chairman of CCF-LA
This includes the young adult children in my own family. Through their New Philanthropist Donor-Advised Funds (NP DAF), they have surprised and pleased us not only in the choices they make for grants from their funds, but in the continued contributions they make to their funds.
CCF-LA encourages families to get involved in all aspects of philanthropy. When we pass the legacy of our family giving to our children, they will be well-prepared to continue with our family traditions.
Having been the chairman of CCF-LA from the beginning in 2014, it has been a wonderful opportunity to help create and build an operation of such importance for our Church and our wider faith-based community. During these difficult periods of economic downturn, it is the high levels of granting that encourages us to grow our programs and be responsive to our clients and beneficiaries.
The hallmark of our success has been and will continue to be all about teaching philanthropy and providing extraordinary levels of client services.
William M. Wardlaw
Partner (Ret.), Freeman Spogli
& Company
CCF-LA Chairman of the Board
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CONGRATULATIONS TO OUR STAFF AND NEW HIRES! | |
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Kara Duncan
Director of Family Office
As Director of the Family Office, Kara develops and manages clients in the Family Office, and works with multigenerational families in creating and defining their philanthropic legacy.
Kara provides custom services and reports to Family Office clients and hosts family meetings.
Kara received a B.A. from Santa Clara University and a Master’s degree in Nonprofit Leadership and Management from USC.
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Armando Nevarez
Controller and Assistant Treasurer
Armando is CCF-LA's new Controller and Assistant Treasurer. He comes to CCF-LA with for-profit, nonprofit, and former faith-based foundation experience.
Armando manages the treasury operations and oversees the preparation of the financial statements and reports, tax filing, and implementation of internal controls.
Armando received a B.A. in Econ/Int'l Studies from UCLA and holds a CPA designation.
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Norma Hernandez
Marketing Manager
Norma joins CCF-LA with over two decades of public relations, communications, and marketing experience, including in the for-profit, nonprofit and foundation sectors.
Her responsibilities include public relations and external communications, publication of the Annual Statement, the monthly newsletter, and website content and management.
Norma received a B.S. degree in Business Management from the University of Phoenix, and fluent in Spanish.
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CCF-LA Family Office Takes it to the Next Generation
One of the most exciting parts of Family Office is supporting our New Philanthropist DAF clients. The New Philanthropist Program was started in 2017 to engage the next generation of Catholic philanthropist in the Los Angeles community and beyond.
"New Philanthropist DAFs can be opened with $2,000 and are a wonderful tool for teaching philanthropy."
It is so impactful to see young people making grants to honor their parents and grandparents’ legacy and faith. Helping different generations find common ground in the organizations they choose to support. Everyone has something they are passionate about or a cause that has touched them, and its so great seeing our Family Office clients come together to share and learn about everyone’s passion.
We look forward to sharing more examples in the future of these grants in action!
Kara Duncan, Director of Family Office
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CCF-LA Finance Department News Updates | |
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There is nothing positive about the financial markets this year. We are meeting with our Investment Committee next week to address adding a new allocation in our Balanced Pool to help alleviate some of the volatility. We asked our fund participants for their thoughts and will incorporate those comments in the recommendation. On the positive side, the US market continues to have less economic and political risk than other global markets.
The September 2022 Performance Report for the pooled funds managed by CCF-LA include: The Balanced Pool portfolio experienced a -7.18% return (net of fees) in the month of September and -21.71% for the first nine months of 2022. The Intermediate Fund pool returned -3.51% for the month and -10.24% so far this year. The estimated annual yield on the STIF account has improved to +2.35%.
In September, the capital markets suffered the worst monthly decline since March 2020. A long list of worries fueled sharp declines in global stocks and bonds - sticky and uncomfortably high inflation, soaring interest rates, fears of a possible recession and slowing economic growth continue to linger over the market. So far in October, the markets are essentially flat, but we continue to expect continued volatility for the rest of this year as the Federal Reserve has been clear about their intention to be aggressive with future interest rate increases to rein in inflation. The next rate-setting meeting of the Federal Open Market Committee is scheduled for November 1-2, 2022. Another rate increase of 75 basis points is expected.
Andrew O'Boyle
Chief Financial Officer and Treasurer
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St. John's Seminary 2022 Annual Gala
St. John’s Seminary 2022 Annual Gala was held at the Cathedral of Our Lady of the Angels on Sat., Sept. 17th, starting with a Vigil Mass.
CCF-LA congratulates its client on an extraordinary event and wishes them continual success in the priestly formation process in preparing candidates for service as Roman Catholic priests.
Photo Caption
L to R: Fr. Mark Villano, CSP, Director of University Outreach; Fr. Miguel Ruiz, Associate Pastor, St. Agnes Catholic Church, and Fr. Luis Espinoza, Pastor, St. Agnes Catholic Church
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Young Onward Students Celebrated at the Cathedral on October 2nd
Forty 8th graders in Catholic schools were recognized by their principals and the John and Cindy Smet Foundation for excellence in their academic achievement.
As a result, they were chosen as “Young Onwards” at a lunch and reception attended by over 300 including their parents and principals from the schools.
Photo Caption:
Cindy and John Smet with Archbishop José H. Gomez
To learn more about the Onward Scholars program or the Smet Foundation, please visit: www.SmetFoundation
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CALL
Business to Business
Breakfast Series
Kathy was a guest panelist speaker at the Business to Business Breakfast Series on Oct. 12th and the topic was “Integrating our Faith in the Workforce: A CEO’s Perspective.”
Participants included Founder and President, Jose Legaspi from the Legaspi Company and Executive Director of CALL, Rosie Chinea Shawyer, MDiv. as moderator.
CALL is a non-profit organization created to bring together Latino leaders in faith, intellect, and in service.
Photo Caption:
L to R: Jose Legaspi and Kathy Anderson
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Legacy Planning in Support of
Catholic Education
Leaving a philanthropic legacy for your children, grandchildren, and future generations is an important gift you can leave to your heirs. One of the best ways to accomplish this is through legacy planning.
This is particularly true for those clients who wish to support Catholic schools. Over the years, a significant percentage of CCF-LA clients have supported local Catholic schools, and utilize CCF-LA to establish long term legacy gifts through their estate plans in favor of Catholic education.
Legacy planning is a key component of estate planning, with the added dimension of imparting certain values to loved ones or establishing a focus on charitable giving through your estate documents. With thoughtful planning, charitable clients can leverage the reach and impact of their funds in meaningful ways.
Through legacy planning, clients have an opportunity to teach their own heirs about the power of philanthropy by naming them as future donor advisors, thus allowing them to learn about the power of giving, while supporting the charitable goals of the original donor. This enables heirs to support charities that are part of their family’s core values.
By establishing a CCF-LA fund, you can extend your lifetime legacy of giving past your single life, and continue to support those organizations that you value for generations to come. CCF-LA legacy gifts supporting Catholic schools include tuition scholarships, infrastructure projects, art and sports programs, on-site school vision programs, and teacher compensation support.
CCF-LA is honored to partner with clients and their families to facilitate their charitable giving goals during their lifetimes and to ensure that their philanthropic legacies are achieved long into the future.
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T. Matthew Hansen, Esq.
General Counsel,
Sr. Director of Operations and Corporate Secretary
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To learn more on Legacy Planning, please reach out to our Development Department at [email protected] or calling
(213) 426-1180
Office Hours:
Monday - Friday,
8 a.m. to 5 p.m.
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St. Frances Center Celebrates its 50th Anniversary
Friends of St. Frances Center Benefit Dinner was held on Sat., Oct. 8th at the Cathedral of Our Lady of the Angeles.
CCF-LA recognizes our client for their leadership in serving the homeless, extreme low-income individuals and families in downtown Los Angeles.
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Right to Life League Bountiful Life Victorious 2022 Annual Gala Dinner
CCF-LA's client Right to Life celebrated it's annual gala dinner at the Cathedral on Oct. 7th, featuring Keynote Speaker, Dr. Ben Carson, Champion for the Unborn.
The Right to Life League exist to defend the God-given gift of life. It’s an education and service organization dedicated to the support and protection of innocent human life from conception to natural death.
When you support the Right to Life League you are making a tremendous pro-life impact.
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Welcome New Pastor Monsignor Antonio Cacciapuoti
CCF-LA attended the Installation of the Cathedral of our Lady of the Angels new Pastor to celebrate the Mass of Installation of Monsignor Antonio Cacciapuoti as Pastor of the Cathedral on Sept. 18th at the 10 a.m. mass.
| 17th Annual Catholic Prayer Breakfast | |
This year’s Guest Speaker was Founder and CEO, FOCUS Curtis Martin (picture above).
The purpose of the Catholic Prayer Breakfast is to bring Catholics from throughout the archdiocese together in community to pray and celebrate our Catholic faith, as well as to provide an edifying keynote speech.
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Good Shepard Shelter "Hope for the Future" Gala 2022
CCF-LA supported its client attending the Good Shepherd Shelter annual gala on October 8th at the Good Shepherd Shelter campus.
We were also lucky enough to see two performances from the Compton Kidz Club throughout the evening. It was such an impactful night for an amazing cause.
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CCF-LA Staff Retreat
Sept., 30th
CCF-LA team met to review its strategic plan and affirmed its commitment to high level client services and the importance of Catholic values in achieving its mission for the remainder of this year, 2023 and beyond.
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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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