News From CCF-LA | January 21, 2021 |
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2020:
A Year Filled With Generosity and Compassion
As we move ahead in this new year, we build on the momentum of our clients in 2020 who supported more than 187 organizations – spanning education, social services, health, and the mission of our Church.
CCF-LA clients were extremely generous with their participation in our funds and the grants they made throughout the year.
While we are expecting to end up with the strongest year in our now six-year history, what is most important is the 387 grants made from our Donor-Advised Funds. We experienced an overwhelming response from our clients, including our New Philanthropists, to bring economic relief and comfort to those suffering most – our poor, the aged and ill, and those unemployed or under-employed.
Thanks to each of you for your compassion over the last year, and now let’s continue to pay it forward.
— William M. Wardlaw
Chairman of the Board
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2021: A New Year Filled With Faith and Hope
Have you heard some people say that we are in the thirteenth month of 2020? For me that could not be further from the truth. We are beginning a new year, a time of hope and renewed compassion for our world, our neighbors, our families, and ourselves.
We can do better and be better this year. We have learned what the unknown fear of a pandemic could do to our world and to each of us - bringing us to a standstill. We may have even put God on hold.
Yet God is present to us when we see people working together and helping each other. How many times did you make the choice to send a donation to a food bank, explore online to see where your charitable dollars could go, volunteer to help your parish or school, check in with your neighbors, or simply call family members to reassure them?
These are all signs of hope for the year ahead. There was good in 2020, so let’s keep it going in 2021.
— Kathleen H. Anderson
President and Executive Director
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In March 2020, when shutdowns and work-at-home orders were issued, we immediately encouraged our clients to issue grants to support the most-dire needs in our faith community.
Our 140 charitable-fund clients responded en masse, and together we sent $43 million into the hands of 187 organizations and more than 80 Catholic schools. Without doubt, this impact is our most important accomplishment of 2020 and a testament that the power of one is the power of many.
We are so grateful for the overwhelming generosity of our clients and what we have accomplished together!
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Financial markets continued to rally in December as the FDA approved the emergency use of COVID-19 vaccines and hopes for a second COVID-19 stimulus package grew.
The Balanced Pool results (net of fees) for December were +3.47%, which brought year-to-date returns for 2020 to +14.32%. Our Intermediate Fund had a monthly return of +1.31% and +8.8% for 2020. As always, we continue to closely monitor the investment choices to be sure they produce the best possible returns for our clients.
Please contact our client-services team at (213) 426-1187 with any questions or requests for additional information.
— Andrew O'Boyle
Chief Financial Officer and Treasurer
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Updates to the CARES Act in 2021 |
Good news for 2021! In December, Congress extended the CARES Act to offer charitable-giving incentives through this new calendar year. What does this mean for donors?
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Individuals can receive an above-the-line deduction for donations of up to $300, even without itemizing. New for 2021: Couples filing jointly can deduct up to $600 under these rules.
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Former limits for giving are raised to accommodate up to 100% of an individual’s AGI, as they were for 2020. The limit for cash contributions to donor-advised funds is 60% of AGI, but a donor can make additional donations outside a DAF to reach the full 100% deduction.
In 2020, CCF-LA provided solutions to clients who wanted to take advantage of this limited-time incentive for charitable giving. To learn more about the options available at CCF-LA, please contact our Client Team at (213) 426-1187.
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Optimize Your Philanthropy with
CCF-LA's Online Tools
CCF-LA’s secure online portal allows clients to manage their philanthropy from anywhere, at any time. You can add to your fund via credit card as well as request grants to be made from your account. Besides these functions, here are a few other features to make managing your philanthropy even easier.
Ways to gather, pray, and give in 2021
Heading into 2021, we look toward a renewed sense of purpose, despite an ever-changing landscape of challenges. Now is the time to commit ourselves to new ways of gathering, praying, and giving as a Catholic community in Los Angeles. Here are a few ideas embraced by CCF-LA.
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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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