Page 1

V

E N T U R A

C

O U N T Y

C

O M M U N I T Y

F

O U N D A T I O N

Fall 2005

highlights

Ventura County Community Foundation Announces Record-Setting Grants in 2005

t

The Ventura County Community Foundation made more than $4 million in grants and pledges in fiscal year 2005 to nonprofit organizations and local students seeking scholarship support, the highest total in the Foundation’s 18-year history. A significant part of VCCF grants came from donor-advised funds – both endowed and pass-through funds – totaling more than $785,000. An additional $598,000 came from funds established by nonprofit agencies, the vast bulk of which are endowments. “The mission of the Foundation is to enable and promote philanthropy in ways that improve our community,” said Wendy Lascher, chair of VCCF’s programs and

INSIDE

engagement

Among the largest grants awarded in 2005 were two from the Martin V. and Martha K. Smith Foundation: $1 million to the Seabee Historical Foundation to build a new Seabee Museum in Port Hueneme and $500,000 to the Ventura County Museum of History and Art’s “Building for the Centuries” capital and endowment campaigns, establishing the Martin V. Smith Pavilion. continued on page 4

Grants by Fund Type – FY 2005 Women’s Legacy Fund 2% ($85,000) World Disaster Fund .5% ($18,355)

Donor-Advised Endowments 11% ($452,180)

Special & Urgent Needs Fund 1% ($53,326) Donor-Advised Pass Through 8% ($334,511) Smith Foundation 41% ($1,707,500) Agency Endowments 13% ($567,225)

Board Welcomes New Members . . . . . . . . . . .3 Community Response Fund Allots $58,000 . . . . . . . . . . .6 Medical Education Loans . . .9 Women's Legacy Fund Awards $85,000 . . . . . . . .10 Year-End Giving . . . . . . . . .11 Vocational Scholarships . . .12 Ten Years of Investment Success . . . . . .14

!

grants committee. “Thanks to the generous commitment of our donors and other friends with whom we partner, the Foundation is in a unique position to help support many worthwhile organizations throughout the county so they can continue to make an important difference in the lives of those they serve.”

Agency Pass Through 1% ($31,134) Community Disaster Fund .5% ($13,000) Community Response Fund 2% ($88,500) Scholarship Pass Through 2% ($68,500) Scholarship Endowments 13% ($554,675)

!

education

!

Field-of-Interest Funds 2% ($95,607)

Farmworker Housing 2% ($87,500)

endowment

!

Destino Fund 2% ($102,880) Designated Funds 2% ($82,381)

grants

!

scholarships


President’s Letter

w

With the shortness of days, this time of the year always seems to arrive more quickly than I think it should. Along with family and holiday echoes, it always is a busy time for nonprofits – scrambling to be ready for year end and not always taking the time to count our blessings! This fall has been a productive one at VCCF as we embark on the first year of our strategic plan. This plan is the product of nine months of work by our board, who focused on the challenges we face as a growing organization whose size has doubled in two years. Our responsibility is to make sure we are ready to help our partners and donors achieve their goals in a world with an expanding list of options. Our new mission statement encapsulates that approach: to promote and enable philanthropy to improve our communities, for good for ever. That remains the heart of our work and the great opportunity that is philanthropy in this county. You can see below what the board has set as mission goals and as goals for the organization. The latter are important because they guide our planning, staffing and budgeting; and the former because they reflect why we build a strong vessel

2005 – 2010 Mission Goals: " To engage donors to build philanthropic capital for Ventura County.

" To build and preserve permanent endowments in Ventura County.

" To provide effective grantmaking from donoradvised and other VCCF funds.

" To provide management and leadership training for nonprofits and boards.

" To be an independent partner for philanthropic civic engagement, addressing community needs.

for partnership over the long haul. It is truly to harness for Ventura County the power of philanthropy, and what our donors can achieve here in strengthening nonprofits, improving lives and building legacies for the next generation. In this year, the committees of the board are reviewing specific goals and strategies to make sure we can achieve our mission goals within the five-year timeframe and that our staff and resources are aligned to achieve the measurable targets our board has set: • To double the endowed assets at VCCF so we can better meet community priorities through grantmaking and expand the reach of our donors’ charitable interests. • To reduce our operating costs – at the margin – so we can be even more efficient and effective in serving our current and new donors. • To expand the number of workshops we offer, and the number of nonprofit board and staff leaders we serve through the Resource Center. • To expand our annuities and plannedgiving programs so that nonprofits in the county can take advantage of wealth transfers, bequests and deferred gifts, stabilizing and enhancing their futures. • To establish new field-of-interest funds to address donor desires for focused impact and at an effective cost. • To explore having a physical presence in East and West Ventura County. continued on page 7

!

2

engagement

!

education

!

endowment

!

grants

!

scholarships


Board Welcomes Alfredo Plascencia and Terri Lisagor

a

Alfredo Plascencia, owner and president of Lazer Radio network, has been elected to the board of directors of the Ventura County Community Foundation. Former board member Terri Lisagor has rejoined the board after a short absence.

Alfredo Plascenia

Plascencia founded Lazer Radio network in 1991 and, under his leadership, the station has grown to become the most listened-to Spanish radio station in Ventura County. Lazer Radio network currently has 15 stations and, in addition to Ventura County, broadcasts in San Bernardino, Riverside, Imperial, Santa Barbara, Santa Maria, Salinas, Monterey and Reno (Nevada). A long-time supporter of VCCF, Plascencia is a Founder of Destino: The Hispanic Legacy Fund and is a co-founding chair of the Destino Business Council (see story on page 5). Active in civic organizations throughout the county, Plascencia has held board/leadership positions with the Ventura County Council of the Boy Scouts of America, the Greater Oxnard Chamber of Commerce, El Concilio del Contado de Ventura, the Oxnard College Foundation, and the committee to build the new chapel of the Our Lady of Guadalupe Church in Oxnard. Yolanda Plascencia has also served on both the Destino Vision and Grants committees in prior years. continued on page 12

!

engagement

!

education

!

Bill Bang Leaves Board After Decade of Service

b

Bill Bang leaves the VCCF board of directors after a decade of outstanding service during which time he served on all major committees and chaired the board from 20002004. At the same time, the board has said goodbye to board members Richard Rush and Charles Schultz, who resigned effective September 2005. Bang chaired the presidential search committee, which in 2003 identified current VCCF President Hugh Ralston as VCCF’s third president. A retired publishing executive, Bill and his wife Mary Ann have been active in many philanthropic and civic causes including the New West Symphony and the Ventura County Museum of History and Art. “Bill’s longstanding commitment to philanthropy and to the work of VCCF has set a high standard, and we are enormously grateful for his leadership and generosity during his many years of service,” said VCCF Board Chair Mary Schwabauer. “Bill is truly someone who has made a difference in Ventura County. “Bill, Richard and Charles have all made important contributions to our Foundation, and their absence from the board will be felt,” Schwabauer continued. “Fortunately, we have a talented board anxious to move forward and tackle the many challenges and opportunities that are in the heart of our strategic plan.”

endowment

!

grants

!

scholarships 3


Staff Promotions at VCCF

t

The Ventura County Community Foundation is pleased to announce the recent promotions of Clare Brown, Donna Hall and Claudia Sanchez. Clare, a CPA, has been promoted to the position of vice president/ controller after serving VCCF for 11 months as its controller. “Through this promotion we are delighted to acknowledge Clare Brown Clare’s outstanding contribution to the Foundation as well as our confidence in the role she plays as a key member of our senior management team,” said VCCF President Hugh Ralston. “Clare’s skills and experience will serve us well as we look to her to manage the growing financial needs of the Foundation, including our expanding investment pool.” Immediately prior to joining the Foundation in 2004, Brown spent 11 years with Ventura-based

Shallenberger & Roberts. She was also an associate with Sandall, Bernacchi & Petrovich in Oxnard. A resident of Camarillo, Brown is a graduate of California State University, Northridge, with a Bachelor of Science degree in business administration. Donna Hall was promoted to finance accountant and in that role is responsible for accounts payable/receivable, day-to-day financial management of VCCF, donor-fund statements, payroll Donna Hall and other duties. Claudia Sanchez is the new financial associate and now serves as assistant to the finance department and assistant to Swift Memorial Healthcare Foundation. Claudia Sanchez

Record-Setting Grants...continued from page 1 This past fiscal year, VCCF also presented over $600,000 in scholarship awards to deserving students. This dollar amount represents a doubling from just a year ago and reflects both new memorial funds and new grants for specific programs. It also reflects an expansion of the Basile Scholarship Fund that permits renewable $5,000 annual awards and the second round of the Orfalea Nursing Scholarships Awards Program. In addition, FY05 saw Destino: The Hispanic Legacy Fund award its largest grant total ever – $102,000 – to various community groups whose work improves the lives of Latino men and women in Ventura County. And in September the Women’s Legacy Fund awarded !

4

engagement

!

education

!

$85,000 in grants to ten organizations whose work improves the lives of women and girls in Ventura County (see related story on page 8). VCCF President Hugh Ralston said that the Foundation’s work in 2006 will continue to focus in its five core areas: engagement, education, endowment, grants and scholarships. “It starts, almost as a virtual circle, with donor engagement and education, leading to the many endowments established at VCCF” he said. “That leads directly to the many grants which strengthen nonprofits and to scholarships to seed the next generation. It is good work, and we are privileged to partner with so many to make such a difference here in Ventura County.”

endowment

!

grants

!

scholarships


Destino Business Council Expands Leadership and Outreach

a

As a way to expand its membership efforts, The Destino Business Council launched a series of meetings this fall, the first one taking place October 6 at the VCCF offices in Camarillo. The Destino Business Council, launched in 2004, consists of business leaders and owners in Ventura County who want to give back to the Latino community and strengthen programs that help Latinos in Ventura County. Through their passionate commitment and generosity, council members help Destino respond to the most pressing issues facing Latinos today – from youth employment and workforce education to healthcare, housing and financial literacy. “The

addition of Virginia Espinoza of Bank of America in Santa Paula adds to the talents of our leadership team,” said Henry L. “Hank” Lacayo, chair of Destino. “We call upon all of those interested in this important mission to attend one of our upcoming meetings and become involved; it is a terrific way for businesses to give back to our community.” For additional information regarding the Destino Business Council and upcoming events, please contact VCCF Director of Donor Relations Susan Clements at (805) 988-0196, x-115, or sclements@vccf.org.

Ventura County Star and VCCF Renew Scholarship Commitment

o

Once again, the Ventura County Star is partnering with the Ventura County Community Foundation to award scholarships to deserving seniors at every high school in Ventura County. This unique program is a wonderful way for the Foundation, the Star and local citizens truly to have an impact on the lives of outstanding students throughout the county. “The Star Scholarship program represents an investment in our future leadership,” said Virginia Weber, scholarships program officer. “Each year that we work with the Star and

!

engagement

!

education

!

a growing number of donors, we are able to provide even more opportunity for talented and deserving students.” The VCCF Star Scholarship partnership has grown significantly over the past two years, funded through $30 contributions by local citizens who want to make a difference. To find out more or to make a year-end donation that will truly be appreciated, contact Virginia at vweber@vccf.org.

endowment

!

grants

!

scholarships 5


Community Response Fund Allots $58,000 to Local Programs Grants focus on Children’s Health, Senior Nutrition, 2-1-1, the Arts and Civic Engagement

t

The Ventura County Community Foundation’s Community Response Fund has awarded $58,000 to a number of diverse, community-oriented organizations in Ventura County who are engaged in innovative solutions to community problems.

“The Community Response Fund has historically focused on providing support for nonprofit projects that do not fit within our other grants programs,” said Tina Knight, VCCF director of grants and scholarships. “This year, we are providing seed funding for programs in transitional and development stages to help them address key needs and to build leadership in solving problems.” The United Way of Ventura County and the Ventura County Civic Alliance each received a $12,000 grant. The United Way will use the grant to help develop a business plan for the Children’s Health Initiative, which is exploring ways to provide access to healthcare for uninsured children. The Ventura County Civic Alliance will use its grant as it moves forward on its livable communities and workforce education initiatives, both outcomes from a two-year communityoriented process to develop strategies to address the county’s growth and sustainability (see story on page 7). The Ventura County Arts Council was granted $11,000 to complete its strategic plan, with an emphasis on cultivating new donors to support the arts in Ventura County. Hard hit by cutbacks

!

6

engagement

!

education

!

in state funding, the Arts Council is developing an integrated approach to build long-term funding to support artists and arts organizations in Ventura County. Senior nutrition providers received $11,000 in grants to support the transition of senior nutrition programs from county management to city-based. Specific grants ranging from $300 to $3,100 were awarded to programs in Oxnard, San Buenaventura, Moorpark, Fillmore and Santa Paula. In addition, $1,000 will go to the Resource Center for Nonprofit Management to create a training program for marketing the new city-run nutrition programs to seniors, which will include scholarships to attend the workshops. A $12,000 grant was provided to support the start-up phase of the county’s pioneering 2-1-1 program, split between Interface Children Family Services and the United Way of Ventura County. Launched this year as the first in California, the 2-1-1 call center provides information regarding health and human services throughout the community through a single entry point, directing callers to the resources they need – from after-school programs to securing adequate care for a child or an aging parent. VCCF will make additional grants from the Community Response Fund later this year.

endowment

!

grants

!

scholarships


Civic Alliance Exceeds Fundraising Goals

w

With the June 2005 completion of the initial three-year funding from the James Irvine Foundation, the Ventura County Civic Alliance has successfully moved into its next phase of funding support. As of September 30, the Alliance reported it has raised over $85,000 from individuals and institutional partners in Ventura County, exceeding its first-year goals for both individual contributions and local business support. An initiative of VCCF, the Alliance is focused on promoting a healthy and sustainable future for the Ventura County region. It is a coalition of civic leaders with a shared commitment to bringing the economic, environmental and social equity interests (“3Es”) of our region together to address priority community issues, increase civic engagement and build community leadership.

Particularly noteworthy in its latest fundraising efforts is the fact that 100 percent of Alliance members made contributions to support its ongoing operations. Local business support was greatly enhanced by a 1:2 match from Haas Automation. The Alliance also received a generous gift from Sage Publications and additional important support from leading businesses such as Procter & Gamble, Santa Barbara Bank & Trust, and others. In addition, the Alliance is extremely thankful to the Ventura County Star for its support and underwriting of the recent two “Road Ahead” conferences. For further information on becoming involved or contributing to the Civic Alliance, please visit www.vccf.org/civicalliance or email civicalliance@vccf.org.

President’s Letter...continued from page 2 Organizational Goals: " To be a respected and independent leader in the Ventura County nonprofit community and one of the best community foundations in California.

" To remain at financial equilibrium. " To ensure staffing and programs reflect VCCF priorities.

" To provide staff with long-term career opportunities, professional work environment and resources.

Over the next year, we will be looking at how we can improve our procedures, our communications, our materials and our responsiveness. Our latest donor survey gave us good marks but also pointed out areas to strengthen. We recognize that the Community Foundation can play a unique role in this county, and we look forward to the good work that we can do together. Let us know how we can help you achieve your dreams for a stronger Ventura County.

" To provide a marketing and communications program that educates and informs. Hugh J. Ralston President & CEO !

engagement

!

education

!

endowment

!

grants

!

scholarships 7


Disaster Relief Funds Aid Katrina Victims and Those in Pakistan and Guatemala

t

The Ventura County Community Foundation’s World Disaster Fund is open to receive contributions from local residents who wish to aid victims of the recent earthquake tragedy in Pakistan and the overwhelming flooding in Guatemala. “The physical destruction and human suffering as a result of these natural disasters is enormous, and we are joining with donors from all over the world to reach out to victims, particularly children, who are homeless and in need of our support,” said VCCF President Hugh Ralston. “While the world has seemed to witness one natural disaster after another this year, each one has its own devastating effect on the lives it touches. We are pleased to partner with the residents of Ventura County who want to direct their generous contributions to assist in these two regions of the world which are suffering from these natural disasters.”

Earlier this year, VCCF served as a local central point for Ventura County residents to aid victims of the East Asian Tsunami and Hurricane Katrina. As in those cases, the grant recipients for this latest relief effort will be organizations that provide emergency relief and long-term recovery in the affected areas. At its November meeting, the VCCF board approved three grants totaling $18,000 to support Katrina victims, partnering with regional community foundations with local expertise and hands-on knowledge. Grants were made to the Greater New Orleans Community Foundation, the Foundation for the Mid-South, and Foundation for Greater Birmingham, each of which will assist longerterm recovery efforts in Louisiana, Mississippi and Alabama, respectively. Contributions should be sent to VCCF. Please make your checks payable to VCCF, note that it is for the World Disaster Fund, and also note whether it is intended to help victims in Pakistan or in Guatemala. Forms are available on VCCF’s Web site at www.vccf.org.

!

8

engagement

!

education

!

endowment

!

grants

!

scholarships


Medical Education Forgivable Loans to Be Awarded County. As an endowed fund, we will be able to do this every single year.” The Medical Education Fund, established earlier this year to increase the number of qualified medical and healthcare workers in Ventura County, was made possible by a distribution of Tobacco Settlement Funds authorized by the board of supervisors. Loan recipients will sign an agreement pledging to work as a nurse in Ventura County for at least two years following the completion of his or her studies, at which point the loan will be forgiven. If the student does not work as a nurse in the county, the loan must be repaid in full.

t

The Ventura County Community Foundation will be awarding forgivable medical education loans to individuals who promise to practice in Ventura County for a minimum of two years upon completion of their studies. The Foundation’s new Medical Education Fund is providing $2,000 forgivable loans to students enrolled in a two-year program for an associate’s degree of nursing at an accredited institution in Ventura County or to students from Ventura County pursuing a Bachelor of Science degree in nursing in a four-year program at an accredited institution anywhere in Southern California. The deadline for application submission was October 28; recipients will be announced shortly. “Investing in students and helping them achieve their dreams is one of the best ways to assure a bright future for Ventura County,” said VCCF Scholarship Program Officer Virginia Weber. “We are delighted, in partnership with the County of Ventura, to be able to expand our program to launch this innovative program to increase the supply of nurses serving Ventura

!

engagement

!

education

!

Check Resource Center for Upcoming Programs

v

Ventura County Community Foundation’s Resource Center for Nonprofit Management is the only center of its kind in Ventura County. Since 1991, the center has provided training, research materials and technical assistance to nonprofit organizations in Ventura County with the goal of strengthening the ability of those organizations to deliver needed services in the community, giving over 60 workshops per year on various topics of management and leadership training. There are a lot of valuable programs planned for the coming months. For a complete listing and for information on attending, please visit www.vccf.org/resourcecenter or call Resource Center Director Dena Jenson at (805) 988-0196, ext. 128.

endowment

!

grants

!

scholarships 9


WLF Awards $85,000 in Grants to Assist Women in Ventura County

t

The Women’s Legacy Fund (WLF) has awarded $85,000 in grants to ten organizations whose work improves the lives of women and girls in Ventura County. These grants were formally presented in September during a reception held at the Studio Channel Islands Art Center, celebrating WLF’s first decade. The reception paid tribute to the founders, donors and grantees who have devoted themselves to the worthy causes of the WLF. The event also afforded attendees the opportunity to meet the 2005 grant recipients and view a featured art exhibit called “By a Woman’s Hand.” As the only permanent endowment fund specifically designed to address the needs of women and girls in Ventura County, the WLF has granted over $400,000 to more than 60 locally based programs since its inception in 1995. Each year, grants are made by a committee consisting of founders and WLF donors which reviews proposals from local non-profits. This year’s grants focused on programs that provide education, training and economic opportunities for women. Some of the organizations honored were those involved in housing, childcare and transportation assistance, all of which provide the temporary cushion some women need to get “back on their feet” and achieve and maintain economic self-sufficiency. “In 2005, there was a special emphasis on supporting programs that provide education and training for women as well as young women wishing to enter the physical and/or mental health-related fields,” said Tina Knight, VCCF director of grants and scholarships. The largest of the grants, $14,000, was awarded to the Westminster Free Clinic for its Teen

!

10

engagement

!

education

!

Honoree and Founder of the WLF Dottie Loebl (center), accompanied by Board Members Sally Yount (left) and Robin Woodworth (right), receives an award for making "A Decade of Difference" to the Women's Legacy Fund.

Healthcare Training Program. The program concentrates on training high school-aged girls to provide clinic outreach and direct patient services as well as providing them with mentorship by healthcare professionals volunteering at the clinic. The Coalition to End Family Violence received $11,000 for its Job Resource Center, which provides educational development and job search assistance, a business clothes closet, vouchers for hairstyling and transportation. Other grants included $10,000 to The Boys & Girls Club of Santa Clara Valley for their How to Launch a Career in Health & Human Services Program; and The Smart Start Child Development Centers for the Abriendo Puertas (Opening Doors), serving non-English-speaking women with English language instruction specific to employment as well as guidance and classes for getting and keeping a job. Additionally, $10,000 was awarded to Many Mansions for Stoll House, assisting homeless women and their families in the transition from homelessness to permanent housing and economic self-sufficiency, as well as to the Ventura College Foundation for the Phoenix Program at the Women’s and Re-Entry Center. Other grant recipients were the Women’s Economic Ventures, Many Motors, Kids to Kids, and the Foundation for Education and Employment Resources.

endowment

!

grants

!

scholarships


Consider VCCF for Your Year-End Giving

a

As you consider your year-end gift giving, don’t forget the great work going on right in your own community by the Ventura County Community Foundation. Through the Foundation, there are many ways for you to put your dollars to good use. Some choose to make a gift to an endowment fund – either one established by individual donors or one established by VCCF itself. Endowment gifts live in perpetuity and, for that reason, are an attractive option for many donors. Many of the same funds can also be supported through annual gifts. Gifts of this nature increase the annual grants budget for 2006, provide for operating Foundation expenses, or assist in a particular project. “Philanthropy is for anyone who wants to have an impact in the future of Ventura County,” says VCCF President Hugh Ralston. “That’s why we’ve created many opportunities and options for people who want to partner with VCCF and strengthen their connection with the wonderful county where they work or live. Your contribution is one way to make this connection real.” Among the many funds at the Foundation that can be supported through either endowment gifts or annual gifts are:

!

Heritage Fund

Destino: Hispanic Legacy Fund (including the Latino Literacy Initiative)

Women’s Legacy Fund

Community Response Fund

Disaster & Recovery Funds

engagement

!

education

!

SUN (Special & Urgent Needs) Fund

Scholarship Fund for Ventura County (which supports the Star Scholarships)

VCCF Vocational Scholarship Fund

Medical Education Fund – Forgivable Loan Program for Nurses

Social Justice Giving Circle

VCCF Arts Funds

Ventura County Fund for Farmworker Housing

Mental Health Initiative (2006)

Gifts can also be directed to help cover operating costs so that VCCF can do a better job of serving its missions and strengthening its partners. •

VCCF Associates Program

Resource Center Workshop Sponsorships

Civic Alliance Partners Program

Further information on any of these programs or your gift-giving options may be obtained at www.vccf.org or by calling (805) 988-0196. A gift to the Ventura County Community Foundation will spread the holiday joy throughout the year and help support those locally based organizations whose missions you care about and who serve those in need.

endowment

!

grants

!

scholarships 11


VCCF Expands Scholarships With New Vocational and Technical Career Awards

d

County high school seniors or graduates of any Ventura County high school currently enrolled, or planning to enroll, in a number of specialized education programs at technical institutions in Ventura County.

v

VCCF is expanding its grants for students pursuing training in technically related fields, reaching out to a larger segment of Ventura County youth not immediately pursuing a college degree. In announcing the $2,000 vocational scholarships grants, VCCF President Hugh Ralston said that it is “important to provide assistance to those who aspire to focus in the professional areas that often drive our economy. These occupations are crucial to the growth and infrastructure of Ventura County, and we are proud to encourage all students who wish to master their vocations to take advantage of this opportunity.” The Fund was created through the generosity of Haas Automation, one of Oxnard’s leading businesses. Additional contributions to this year’s grant pool are welcome as VCCF builds this new resource for Ventura County students into an annual source of scholarship assistance. The 2005 Vocational Career & Technical Education Scholarships was open to all graduating Ventura

!

12

engagement

!

education

!

Eligible categories include cosmetology, building/ property maintenance, machine shop, electrical/ electronic engineering, medical assistant, administrative assistant, data processing, licensed vocational nurse (LVN), software/computer IT and business administration. Applicants must demonstrate financial need.

Board Welcome...continued from page 3 “We are honored to have someone with Alfredo’s knowledge and strong community commitments join our board of directors,” said VCCF Chair of the Board Mary Schwabauer. “He and his wife are both dedicated to making Ventura County an even better place to live, and we know that his passion and energy will be put to good use as a member of our board.” Terri Lisagor rejoins the VCCF board after resolving some scheduling conflicts with her responsibilities as a professor of nutrition/food sciences at California State University, Northridge. Terri is now serving as vice-chair Terri Lisagor of VCCF’s programs and grants committee and is on the communications committee as well as the organizing committee for a new social justice giving circle.

endowment

!

grants

!

scholarships


$1 Million Gift Secures Future of Museum Library

w

Working through the Ventura County Community Foundation, a Ventura County family has made a gift of $1 million to the Ventura County Museum of History and Art’s capital campaign to fund construction and programming in the museum’s research library. The generous gift will enable the library to quadruple in size and will create an endowment to fund acquisitions, conservation, special programs and other library needs. While the donors prefer to remain anonymous, a family member noted that “the gift is made in recognition of the tremendous value of the library to the county, and in the hope that its collections will continue to grow. In addition, we hope that this gift will generate a challenge to other families to come forward and support the museum.” Originally the archive of the Ventura County Historical Society, the museum library collection has grown over the years with the addition of

rare collections, many of which are one-of-a-kind and irreplaceable. “The museum research library collections represent nothing less than an entire region’s appreciation of its own history and a commitment to the preservation of that history,” said Librarian Charles Johnson. “Almost a century old, the collections continue to grow in both established and emerging areas and is the single most important historical resource concerning Ventura County available anywhere.” A $250,000 endowment fund at the Ventura County Community Foundation, created as part of the library gift, will provide yearly income to fund special library projects, such as purchases of new materials and equipment, and to sponsor special publications and programs dealing specifically with the library collection. Income from the endowment will become available in October 2006.

Charitable Gift Annuity Rates For One Life

For Two Lifes

(yourself)

(yourself and another)

Looking to get a higher monthly return on your investments at a guaranteed rate? To help a local charity? To expand Ventura County’s philanthropic resources? Perhaps you wish to leave a legacy for good for ever? Open a charitable gift with VCCF and benefit a local charity, the Community Foundation and the community. • VCCF annuities provide guaranteed income to donors.

For more information about eligibility requirements and program details, contact Hugh Ralston at hralston@vccf.org or call (805) 988-0196, ext. 116. !

engagement

!

education

!

• The annuity rate is determined by the donor’s age at the time the gift is made; individual rates apply to specific ages. • VCCF annuities can support nonprofits throughout Ventura County.

endowment

!

grants

!

scholarships 13


Ten Years of Investment Success Donor fund statements expand investment data

d

Investment Process

Donor fund statements have been expanded with the September 30, 2005, statement, bringing more background information to fund advisors and agencies investing with VCCF. “Providing additional information about our investment process and our advisors is important to those who entrust funds to us,” noted VCCF President Hugh Ralston. “We are very proud of our longterm record, particularly given the importance of our policy to preserve the purchasing power of capital over time.”

VCCF manages its endowment funds in a pool, which is overseen by an investment committee consisting of VCCF board members and others with expertise in the investment markets and experience managing large endowment and foundation portfolios. The committee meets a minimum of six times annually to review the performance of managers, potential changes in managers and market updates. The current committee chair is Robert Katch, VCCF board member and founder of Manchester Financial. Other members include VCCF Directors Pierre Tada, Stacy Roscoe and Denis Dupuis as well as former VCCF Directors Richard Shipley and

VCCF’s historical return of 10 percent exceeds the current 5 percent annual distribution policy, fees and inflation, allowing the core funds to grow over time to expand the charitable grantmaking.

Investment Performance Performance Summary as Septmber 30, 2005 Last Quarter

Fiscal YTD/ 1 Year

Last 3 Years

16.0

17.2

Last 5 Years

Manager Allocation Summary as Septmber 30, 2005

Last 10 Years

Since Incep. Dec. 1991

Roxbury 7.7%

Total Fund Total Fund Composite Total Funds Universe Rank

5.7

7.0

9.9

10.0

6

12

10

8

18

-

Custom Index**

3.3

12.0

14.1

2.8

8.2

8.8

Manager Index*

3.9

13.0

14.9

4.3

9.2

9.4

* The Manager Index is composed of the Russell 3000/Lehman Bros. Aggregate Bond/MSCI EAFE components based on the actual allocation percentages of the Total Fund.

For more information on VCCF’s investment management results for donor advised, agency endowment and other funds see, www.vccf.org/funds

14

engagement

!

education

!

Westcliff 11.5%

EuroPacific Growth 15.6%

Intech Large Growth 6.0% Lateef 6.4%

**Custom Index is 50% Russell 3000/15% MSCI EAFE after taxes/35% Lehman Brothers Aggregate Bond

!

Eubel Brady 4.9%

endowment

Bernstein Diversified Value 14.6% Montauk Triguard 0.0% Archstone 2.1%

Core Bond Alternative Assets Alternative Assets Large Cap Value Large Cap Growth

!

grants

!

Aetos 2.0%

PIMCO Total Return 29.3%

Large Cap Growth Mid Cap Growth Mid Cap Value Small Cap Core International Large Core

scholarships


William Hart. Countrywide Executive Vice President Anne McCallion also serves on the committee, which is staffed by VCCF’s Vice President/Controller Claire Brown and President. In addition, a longstanding relationship with Canterbury Consulting provides VCCF with objective advice and comparative data on the performance of its managers, both in actual terms and compared to benchmarks set out in VCCF’s investment policy.

Asset Allocation According to Katch, one of the committee’s key responsibilities is allocating the portfolio among asset classes – stock, bonds and alternatives. “The current policy is 60 percent equities, 30 percent bonds and up to 10 percent alternative assets, which creates a diversified portfolio and sets up the endowment for long-term growth of principal,” says Katch. “The committee is also reviewing other options, including a family of ‘socially responsible’ funds that would mirror the Foundation’s asset allocation targets.” Within equities, the committee has set targets for large cap (25 percent – 12.5 percent for growth and 12.5 percent for value), mid-cap equities (10 percent) and small-cap equities (10 percent) as well as 15 percent for international (non-U.S. based) large-cap stocks. These ranges are approved by the board, as is the annual distribution rate, which is currently 5 percent of the value of the fund, calculated over a 12-quarter rolling average as of June 30 of each year. These monies are available October 1 of each year for distribution as grants to local nonprofits. !

engagement

!

education

!

The committee monitors the allocation targets on a regular basis, and new funds invested into the portfolio are spread among the various managers to preserve the appropriate allocation. “Studies have shown that the asset allocation decision is one of the most important determinants of long-term performance, and we take the disciplined review seriously,” noted Katch. “One of our key responsibilities is to be a careful steward of the funds entrusted to us, and our goal is to achieve long-term growth while ensuring that funds invested with VCCF are safe and well looked after.” Fund advisors are invited to an annual open meeting in November to discuss the portfolio strategy and performance; the presentation is posted on the VCCF Web site at www.vccf.org.

A Thank You to Donors Due to the volume of individual donations and contributions to VCCF funds and programs since our last newsletter, we are unable to list all of our donors in this quarterly newsletter. Please look for a listing in our upcoming annual report and on VCCF’s Web site at www.vccf.org. We thank you for your generous support of the good work of the Community Foundation, expanding the impact of philanthropy in Venture County.

endowment

!

grants

!

scholarships 15


Staff Leadership Awards Announced

c

Congratulations to the newest winners of the Staff Leadership Award, a quarterly commendation recognizing outstanding effort and leadership: • Virginia Weber (2nd Quarter) • Clare Brown and Claudia Sanchez (3rd Quarter)

From l to r: Claudia Sanchez, Virginia Weber, and Clare Brown

“These awards are given to staff colleagues who have stretched above and beyond the call of duty,” says VCCF President Hugh Ralston. “As program officer for scholarships, Virginia’s deft and thoughtful handling of a three-fold increase in scholarship applications this past year was truly outstanding – and was evident in our successful grant reception. Claudia and Clare

V

E N T U R A

C

O U N T Y

C

O M M U N I T Y

were exemplary in preparing all of the materials for the national standards review in a very short period of time, with materials updated and received in good order. I am pleased to recognize these exceptional individuals for their great work.” Award recipients received a gift certificate for their extraordinary efforts.

F

O U N D AT I O N

1317 Del Norte Road, Suite 150, Camarillo, CA 93010-8504 805-988-0196 Fax: 485-5537 vccf@vccf.org www.vccf.org

Investing in Ventura County. For Good. For Ever.

RETURN SERVICE REQUESTED Board of Directors Mary L. Schwabauer, Chair Ronald L. Hertel, Treasurer Sally S. Yount, Secretary Denis A. Dupuis Robert J. Katch Henry L. "Hank" Lacayo Wendy Cole Lascher Terri Lisagor Timothy J. McCallion Alfredo Plascencia M. Carmen Ramirez Stacy A. Roscoe Scott B. Samsky Pierre Y. Tada Robin C. Woodworth

President & CEO Hugh J. Ralston

Nonprofit Organization U.S. Postage PAID Oxnard, CA Permit No. 210

Highlights Newsletter Fall 2005  

VCCF Highlights Newsletter

Read more
Read more
Similar to
Popular now
Just for you