Welcome Letter

A Message From the Endowment Leadership

Dear Friends and Partners,

It is with great pleasure that we welcome you to The California Endowment’s 2023 Annual Report. The report serves as a testament to our remarkable grantees and community partners who, together with us, envision a future where California truly represents a healthier place for all.

We aspire for California to show the nation what a healthier “state of Belonging” looks like in policy, in practice, and in community.

Throughout this report, you will witness the profound impact of our collaborative efforts with select grantee partners. It is always a challenge to select just a few examples from the array of exceptional partnerships taking place across our state. However, we are confident the stories shared here will inspire and resonate with you.

Our commitment to creating a “California For All” rests on the principles of equity, fairness, inclusion, and advancing racial justice. We amplify the voices deeply rooted in communities, striving for healthier and more equitable outcomes. We have centered our efforts on community voice and power building, recognizing that the surest path towards a healthier nation is through a vibrant, participatory democracy. Our investments are guided by three “bold ideas” shaped by our partners: People Power, Health4All, and Transformed Systems to improve health. The stories you will see featured in this report represent these “bold ideas” led by bold leaders in action.

Health4All reflects our belief that health care is a fundamental human right. Our work alongside health care partners, such as the California Pan-Ethnic Health Network, aims to center health equity for communities of color and the uninsured — regardless of income, sex, race, ethnicity, primary language, LGBTQ+ status, disability, or immigration status. In addition to investing in health coverage for all, we have enhanced grantmaking to strengthen and further diversify California’s health workforce.

We are also pleased to report that, with the enthusiastic support and leadership of our Board of Directors, our foundation has asserted the use of resources beyond traditional grantmaking resources in pursuit of the “For All” vision in California. In recent years, we have…

  • Increased the use of investment assets towards mission through greater use of program-related investments and impact investing;
  • Taken the unprecedented step of issuing a “Social Bond,” raising $300 million in capital to accelerate systems changes to improve health; and
  • Pledged the use of our headquarters property and funding to envision a “Hope Village” with public sector and community partners near downtown Los Angeles — where the creation of a village of affordable housing and supportive services can be realized for community residents, unhoused people, and those impacted by the justice system.

As we navigate the challenges ahead, we remain hopeful in shaping our future – a future informed by the experiential wisdom of grassroots leaders and residents. By harnessing the power of residents and young leaders, we can build a “California For All,” where every person’s voice is counted and heard. We stand in solidarity with you, recognizing that our collective strength is the key to creating a California that truly embodies the principles of inclusivity, belonging, and compassion.

Thank you for joining us on this journey. Together, we will continue to make a difference.

Robert K. Ross, MD President / CEO
Kurt Chilcott Board Chair
Katherine A. Flores, MD Board Vice Chair
View All Board Members

A “California For All” in the 21st Century

Our Mission

The California Endowment’s mission is to expand access to affordable, quality health care for underserved individuals and communities and to promote fundamental improvements in the health status of all Californians.

Annual Report 2023

Our Vision

We envision a California that leads the nation as a powerful and conscientious voice for wellness, inclusion, and shared prosperity.

  • Where the talent and genius of all young people are no longer left on the sidelines, but are central to the state’s future;
  • Where California invests in the wellness of all and assures meaningful opportunities for all, particularly the next generations, and those who have been excluded from opportunity because of discrimination, marginalization and stigmatization;
  • Where there is racial truth and reconciliation, justice and healing;
  • Where public institutions are responsive to, and reflective of, the will of all the people;
  • Where all have voice, and are empowered to participate in a robust democracy;
  • Where health destiny is not determined by a person’s ZIP code;
  • Ultimately making California the nation’s healthiest state, and a model that fulfills America’s true promise of equality and justice for all people.

Meet Our Board Members

Led by our board of directors, president and CEO Robert K. Ross, MD and the Foundation’s executive team, the California Endowment strives to set the standard for accountability, transparency, equity, and impact.

Kurt Chilcott
Board Chair
Katherine A. Flores, MD
Board Vice Chair
Robert K. Ross, MD
  • María Blanco
  • Bishop Minerva G. Carcaño
  • Britta Guerrero
  • Kris Hayashi
  • Kai Hong
  • Leslie B. Kautz
  • Marta McKenzie, MPH
  • Stacie Olivares
  • Karthick Ramakrishnan, PHD
  • Michele Siqueiros
  • Vernita Todd, MBA, FACHE
  • Vien Truong, Esq.
  • Dr. Daniel E. Walker
  • Torie Weiston-Serdan
  • Kiah Williams
Get to Know Our Board Members
California Pan-Ethnic Health Network (CPEHN)

Building a 21st Century Health4All

Doting grandmothers. Busy single parents. Joyful families. Activist youth. Smiling children. Strong farm workers. Energetic teens. All Californians. All different. Yet all belong and have a right to full, productive, healthy lives. That vision propels the work of The California Endowment (TCE).

Establishing a 21st century “Health4All” system is not simply a TCE tagline. It represents a core commitment to driving efforts to ensure prevention, community wellness, and access to quality health care for all Californians, which infuses significant collaborations with community partners like the California Pan-Ethnic Health Network (CPEHN).

The Endowment has maintained a longstanding relationship with CPEHN powered by the complementary objective of mobilizing communities to advance health and racial justice for people of color in the state. One of the health network’s guiding principles is dismantling the entrenched practice of having wealth, race and ZIP code determine the health of many Californians of color.

“Harnessing the power of a collective approach to advancing health equity definitely will help accelerate the process versus working in silos as individual organizations.”

Rhonda Smith Executive Director, California Black Health Network, Inc.

“We are committed to making sure that health care and the health care delivery system centers racial equity and gives everyone an opportunity not only to access health care but to have good health outcomes,” said Kiran Savage-Sangwan, Executive Director, CPEHN.

Four ethnic health leaders — the Asian and Pacific Islander American Health Forum, California Black Health Network, California Rural Indian Health Board, and the Latino Coalition for a Healthy California — founded CPEHN in 1992. Since then, the partners have worked to build community power and develop a common agenda to advance health equity in California. The organization recognized the urgency of addressing the health needs of communities of color, who traditionally have been largely ignored, or poorly served. CPEHN has assiduously worked to eliminate inequitable health policies and has sponsored dozens of bills from supporting health care to language access and services for unsheltered people. Along with community partners, it has been effective in using data, developing policy agendas, organizing, and building people power to advance systemic change in California.

“We are committed to making sure that health care and the health care delivery system centers racial equity and gives everyone an opportunity not only to access health care but to have good health outcomes.”

Kiran Savage-Sangwan Executive Director, CPEHN

“Harnessing the power of a collective approach to advancing health equity definitely will help accelerate the process versus working in silos as individual organizations,” said Rhonda Smith, Executive Director, California Black Health Network, Inc. “We’re working together, we have alliances, and there’s a greater chance of success in advancing health equity for everyone.”

By uniting its networks and mobilizing diverse community partners, CPEHN aims to achieve health equity by reimagining the health care system and pursuing anti-racist policies and systems changes. Its partners include the Behavioral Health Equity Collaborative, Public Health Collaborative, and Having Our Say coalition.

“CPEHN understands that in order to make systemic changes for equity and prevention you need strong networks and must be driven by local experience and community partners,” said Steven Eldred, Managing Director, Program and Partnerships, TCE.

One key focus area for CPEHN is the state’s Medi-Cal program. Two-thirds of people of color, particularly Californians with low incomes, have less access to resources so the health network concentrates on strengthening that program, which it views as a tool for equity.

Other priorities include the California Reducing Disparities Project’s mission, which advocates for mental health equity for priority populations statewide, and People Power for Public Health, a community-based research initiative that seeks to transform local budgets to fund community power and public health, including emergency response, health care, mental health, oral health, and social services.

Another critical effort addresses racial equity. CPEHN, along with several partners, issued a letter to Governor Gavin Newsom in 2020 declaring racism as a public health crisis. The commitment to the issue endures. CPEHN believes systemic racism is a key driver of poor health for communities of color. “We believe that it is going to take some significant shifting of power in government and in communities in order to improve our communities, improve our health and improve our state,” said Savage-Sangwan. CPEHN is also focused on COVID-19 recovery. While there have been official declarations about the end of the pandemic’s state of emergency, CPEHN recognizes that moving past COVID-19 remains an enormous challenge as the disease had a disproportionately negative effect on communities of color. The health network has a project dedicated to looking at how counties spend COVID-19 funding and that monitoring includes a racial equity analysis.

“CPEHN understands that in order to make systemic changes for equity and prevention, you need strong networks and must be driven by local experience and community partners.”

Steven Eldred Managing Director, Program and Partnerships, TCE

The binding partnership with TCE has forged many successes for the health network. In addition to financial support, TCE has been a steadfast backer of CPEHN’s network approach, which is core to the work that allows its investment in underserved communities.

“It’s been an amazing partner in that work, but even more than as a funder, TCE has been a thought leader around today’s issues when you think about health for all. TCE really opened the space for those of us who’ve been advocating for that for a long time and opened the door to that policy change,” said Savage-Sangwan.

TCE’s Hope Village

Hope Lives Here

In the shadow of downtown L.A.’s skyscrapers, not far from the towering Men’s Central Jail, a dusty, concrete parking lot bounded by metal fencing will be but a memory as a visionary project, Hope Village, springs to life.

Planning to transform The California Endowment’s two-acre backlot on Main Street has begun in earnest.

Envisioned as a place of hope and healing aimed at helping those most harmed by a legacy of racism and the criminal justice system, Hope Village will offer housing, community, and health services to formerly incarcerated, unhoused, and economically disadvantaged residents. The Village will include up to 125 housing units and also provide an array of community services, including physical and mental health, job training, and arts programs, as well as a community space for gathering and healing.

The birth of the project dates to 2019 when TCE President and CEO, Dr. Robert K. Ross, chaired the Los Angeles County Alternatives to Incarceration Commission, which delivered its report to the County in March 2020.

Those recommendations included a proposal to decommission the Men’s Central Jail providing an opportunity to reimagine the use of physical space in the surrounding community. Over time, these conversations gave birth to the vision for Hope Village.

“Hope Village really is about bringing a health equity orientation to the justice system — about using both our dollar resources and land resources to contribute to a new vision of justice reform for a region of Los Angeles. It’s about listening to grantee partners, about getting their strategic insights about how to transform the justice system into a care-first, health-first orientation,” said Dr. Robert Ross.

“Hope Village is about…using both our dollar resources and land resources to contribute to a new vision of justice reform for a region of Los Angeles... [and] how to transform the justice system into a care-first, health-first orientation.”

Dr. Robert K. Ross President / CEO, The California Endowment

Working with Homeboy Industries, whose properties are adjacent to the TCE lot, and other partners, the Endowment staff and Board began envisioning how an underutilized piece of property could address the needs of an often-neglected population, not just those with justice system involvement, but their families, the unhoused, and others lacking the financial means to afford housing in downtown Los Angeles.

This vision began with a community engagement process gathering input from local residents that informed a Request for Proposals for a developer. Following a rigorous proposal process, Linc Housing, an affordable housing developer with a holistic approach to community development, was selected in early 2023 to lead the development. The two-fold Hope Village project will include community service facilities set to begin construction as early as 2025, and affordable housing slated to start as early as mid-2026 with an expected project completion and opening in 2028.

The project now is in pre-development and Linc Housing and its partners are leading another round of community engagement to determine the emergent and long-term needs of local residents, including those living in Chinatown and the William Mead Homes, and justice-impacted and unhoused populations.

“The model that we want to set is that community comes first, and community voices are uplifted in the development of any project. It’s something we are being careful to do. We spent a year of engagement and we’re spending another year going out to the community, speaking to people about what this property means and what services it can bring … and that is different than what most projects do,” said Edward de la Torre, co-lead, Hope Village Project, TCE.

Low-Income Housing Tax Credit funding will support the housing construction along with New Market Tax Credits and other state and federal funding. TCE is providing the land and funding for the project and will work with Linc Housing to raise additional funding and partnerships.

“This is a model for other foundations. How do you use all of your assets to advance your mission? We’re using both land that we own and bond dollars from investors. We will eventually use grant dollars and may use other TCE investment dollars. We’re looking at using all these different tools and resources in order to better serve the community,” said Jennifer Chheang, co-lead, Hope Village Project, TCE.

TCE’s foundational principles are built on having a “California For All” with a powerful and conscientious voice for wellness, inclusion, and shared prosperity. Critical to the Endowment’s success is transforming public institutions to become significant investors in, and champions of, racial and social equity. Hope Village represents a realization of those ideals.

Dr. Ross imagines a successful Hope Village project on the now-empty lot. “Someone standing on that corner at Main Street and looking out and the jail is gone. And what’s in its place is this community with housing and mental health services and arts programming and job training… a village of real hope.”

Impact Investing

When Investments Inspire

When Eric Cato returned to East Oakland after being released from prison, he got a cancer diagnosis. During his health care journey, he was introduced to Roots Community Health Center which helped Eric with more than medical care; the team helped him to transition back into the workforce and provided housing assistance. Today, Eric is healthy, working for Roots as an HVAC technician.

That is exactly the sort of organization that The California Endowment seeks to support through its Impact Investing: a nonprofit that empowers communities and supports not just health but key social determinants of health and overall well-being.

Over a decade ago, The Endowment considered what more it could do beyond grantmaking to help organizations like Roots accelerate and deepen its impact to more people like Eric. It chose to begin using some of its investment assets to deliver more than financial returns but to also assure social returns, too. That is the work of the foundation’s Impact Investing effort focused on program-related and mission-related investments.

“Growing up here in Oakland, I took a lot from the community. Even though I did my prison time and paid my dues to society, that’s paying the system, not society. Now I feel I’m paying my dues to society by giving back with Roots.”

Eric Cato HVAC Technician, Roots Community Health Center

In a newly published report, the journey of its Impact Investing efforts has been chronicled. The California Endowment has a $250 million Impact Investing allocation committed to investing in alignment with its mission and values, managed by its Impact Investing team.

One of the financial tools it utilizes is Program Related Investments or PRIs. PRIs are financial tools aligned to The Endowment’s mission, unique to private foundations, which must be repaid but can provide more flexible terms than traditional financial tools.

A typical PRI for The Endowment is a long-term, concessionary loan made to community-based nonprofit financial intermediaries that work daily with nonprofits such as Roots.

In 2015, The Endowment partnered with Capital Impact Partners, a community development financial institution, to launch the Healthier California Fund to assist community health centers and clinics deepen their impact through improved patient access and patient-centered approaches to care.

The Fund made low-cost, long-term loans that health providers couldn’t get from traditional banking sources.

The fund was a mission match for The Endowment which made $15 million in PRIs into the $30 million Healthier California Fund.

“The Healthier California Fund finances innovative health care solutions that deliver social impact and address the social determinants of health in underserved communities.”

Roots was among seven community health centers to receive loans from the Healthier California Fund, helping it evolve from a mobile health care clinic into a permanent space, and assisting hundreds more people like Eric with medical care, jobs, and homes.

Loan funds like the Healthier California Fund provide revolving sources of capital for communities, as once the loans are repaid, they can be reinvested into the next community priority. That cycle illustrates how communities are strong stewards of investment capital, ideally giving them access to even more capital over time.

“We have heard from the communities we serve — their desire and need for investments. TCE uses its PRIs to address systemic racial inequity in the capital markets to support our communities.”

Amy Chung Managing Director, Impact Investing, TCE

The Endowment’s PRIs extend beyond healthcare providers and expand access to financial services, housing, and more. One of the most evident instances of racial inequity in low-income communities and communities of color is predatory lending. James Sarrio knows all too well the impact of too much debt and a poor credit rating. At one point, the San Francisco resident had ten outstanding student loans. James got the help he needed to address a seemingly insurmountable situation from Self-Help Federal Credit Union.

Self-Help consolidated his multiple loans into one with manageable terms, allowing James to forge a future path of earning bachelor’s and master’s degrees, and ultimately founding and managing a nonprofit.

James’ scenario is typical of Self-Help’s member base. The credit union links low-income residents to safe and affordable financial literacy services and pathways to restore their credit. Its work matches The Endowment’s mission and was an important factor that led to a series of PRIs to Self-Help to expand its presence in California, including opening new branches in San Diego and Sacramento.

For Capital Impact and Self-Help, the experience over time of serving community needs with The Endowment’s tools built mutual trust. Those relationships were proven during the COVID-19 pandemic when The Endowment partnered with Capital Impact to quickly provide PRIs to help community health centers keep their doors open and with Self-Help to support entrepreneurs in cash flow crises.

“Social justice fights require the durability of effort. The Endowment is using every asset to respond in this critical moment, which calls for innovative and long-term solutions that center the voices of low-income BIPOC residents, particularly those that have historically been underfunded and experienced disinvestment and divestment. These PRIs are building on the momentum to accelerate systems-change work.”

Dr. Robert K. Ross President / CEO, The California Endowment

Today, having made 56 PRIs into 41 organizations, The Endowment continues to deepen existing relationships while also investing in new relationships.

A new PRI with ROC USA will support California residents to cooperatively purchase and operate their own manufactured home communities, preventing displacement and helping residents build assets.

TCE’s Social Bond

The Future of Power Building in California

In the world’s fourth largest economy, The California Endowment’s Social Bond is making it possible to design a first-of-its-kind process that will shape the future of power building in California, a central strategy for systems change that philanthropy often overlooks.

Over the last year, hundreds of racial and social justice power builders have come together to break bread, imagine, create, and collaborate on power-building strategies that will nurture generations to come.

Felicia Jones, former Deputy Director of Congregations for Prophetic Engagement (COPE), echoes the need to expand support for grassroots groups, primarily those led by people of color, to continue their necessary, but difficult work.

“Grassroots [organizers] feel and know and experience the holes in our systems. They feel racial inequity. And our ability to make sure that their voices are included is reason enough to say we’ve got to sustain an infrastructure that has this pipeline where the community is a part of the solution,” she says.

“Power building for us is the ability to develop collective power of people in neighborhoods and communities and across the state, being able to connect those organized forces to develop collective political power.”

Miya Yoshitani Senior Strategist, Asian Pacific Environmental Network

Power building is key for marginalized groups, such as the Vietnamese community in Orange County, where Tracy La, executive director of VietRise grew up. “I want my community to be seen as a powerful collaborator in the fight for social justice, all across the state, and for people to recognize the kind of ripple effects of change that us working together in multiracial and multi-generational solidarity will bring to other communities across the United States.”

But in order to create that change, organizations need consistent funding to bring their solutions to life and mobilize those most impacted by systems of oppression.

“We know that in order to build strong, stable, resilient organizations in the Black community, we need ongoing funding that sustains after the crisis and that allows for organizations to really build the 21st century infrastructure that’s needed to do power-building work at scale,” says Marc Philpart, Executive Director of the California Black Freedom Fund.

Terry Supahan, Karuk tribal member and Executive Director of the True North Organizing Network in the Redwood region of Northwestern California says, “Power building to me is giving voice to not only the individual but the individual’s tribe, community, village, and place. It’s helping people find themselves and leaning into the power that’s all around them so that they can feel it too.”

Joseph Tomás Mckellar, Executive Director of PICO California, believes that philanthropy can learn from taking time to listen more intently to organizers and provide them resources for deeper, collaborative planning and building of power.

“Where I think philanthropy could really make a big difference is not only funding campaigns and policy and systems outcomes, as important as those are, I think philanthropy needs to help us build the capacity of our organizations to create a deep, beloved community and build power as entities so that we can take on long-term fights that are necessary to fundamentally shift the politics and economy of our state,” Mckeller says.

By gathering power builders from different communities and issue areas, The Endowment is helping organizers create something that doesn’t currently exist in California – a network of physical and virtual power-building centers that will sustain and serve more BIPOC-led grassroots groups and movements, especially in areas of severe inequality. While the nation is still dealing with the devastating effects of the COVID-19 pandemic and the ongoing threat of white supremacy, the social bond points to a hopeful way forward.

“The rationale behind the decision to go after a bond has to do with our vision, best described by Dr. Martin Luther King and his vision of a beloved community,” says Dr. Ross, President and CEO, The California Endowment. “It’s not enough to solve the nation’s problems, but is there enough to catalyze and send a message to people doing this work?”

This investment is more than just a dollar amount — it’s an investment of trust in communities to write their own narrative and design a system that actually meets their needs. Organizers working on diverse issues and with varying levels of funding are using this extraordinary opportunity to imagine how to radically change our collective health and well-being for the better.

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Hear directly from some of these leaders on what the Social Bond makes possible in the journey to create a more equitable and racially just California.


Grantee Partners We Supported in 2022

Grants, Contracts and PRIs

The California Endowment’s grant making is guided by our three bold ideas: People Power, Reimagining Institutions and a 21st Century Health System for All.

Jump to List of Grantees

Number of Grants, Contracts and PRIs Awarded

973 Grants, contracts, and PRIs
643 Organizations
Annual Report 2023

What We Fund

  • Single & multi-year grants
  • Grants: program support – general operating support – restricted project
  • Direct Charitable Activities
  • Program Related Investments

Dollar Value of Grants, Contracts and PRIs Awarded

$167,587,342 In grants, contracts, and PRIs awarded
Annual Report 2023

Total List of Grantees

What follows is a listing of the 800+ grantee partners we supported in 2022; we appreciate their leadership and their energy in pursuit of a healthier California.
  • 3 Point 0
  • 916 Ink
  • A New Way of Life Reentry Project
  • ACCE Institute
  • Access Humboldt
  • ACLU Foundation of San Diego and Imperial Counties, Inc.
  • ACLU Foundation of Southern California
  • ACT for Women and Girls
  • Action Council of Monterey County, Inc.
  • Acupuncturists Without Borders
  • Advancement Project
  • Affect Real Change, Inc.
  • African Coalition Workforce
  • African-American AIDS Policy and Training Institute
  • Alameda Health Consortium
  • Alianza Coachella Valley
  • Alisal Center for the Fine Arts, Inc.
  • Alive & Free
  • All Positives Possible
  • Allen Temple Health and Social Services Ministries
  • Alliance for a Better Community
  • Alliance for California Traditional Arts
  • Alliance for Justice
  • Allied Media Projects, Inc.
  • AltaMed Health Services Corporation
  • American Heart Association, Inc.
  • American Indian Child Resource Center
  • American Leadership Forum
  • American Public Health Association, Inc.
  • Amplifier Foundation
  • Angie Rios dba The Rios Company
  • Anti-Recidivism Coalition
  • Arc California
  • Arts for Incarcerated Youth Network
  • Asian American-Pacific Islanders In Philanthropy
  • Asian Americans Advancing Justice – Los Angeles
  • Asian and Pacific Islander American Health Forum
  • Asian Pacific Environmental Network
  • Asian Pacific Fund
  • Bail Project, Inc.
  • Bakersfield College Foundation
  • Bay Area Council Foundation
  • Bay Area Parent Leadership Action Network
  • Be Smooth, Inc.
  • Be the Change Consulting, LLC
  • Behr Communications, Inc.
  • Bend the Arc – A Jewish Partnership for Justice
  • Beyond 12 Education, Inc.
  • Beyond Differences
  • Black Alliance for Just Immigration
  • Black Cultural Zone Community Development Corporation
  • Black Emotional and Mental Health Collective
  • Black Organizing Project, Inc.
  • Black Students of California United
  • Black Women United
  • BLU Educational Foundation
  • Boys & Girls Club of West San Gabriel Valley
  • Bread Project
  • Bright Prospect
  • Broadway Cares-Equity Fights Aids, Inc.
  • Brotherhood of Elders Network
  • Buckelew Programs
  • C R L A Foundation
  • California Association of African American Superintendents and Admin
  • California Association of Public Hospitals and Health Systems
  • California Black Media
  • California Budget and Policy Center
  • California Calls Education Fund
  • California Center
  • California Children and Families Foundation, Inc.
  • California Community Foundation
  • California Consortium for Urban Indian Health, Inc.
  • California Coverage and Health Initiatives
  • California Department of Health Care Services
  • California Health Foundation and Trust
  • California Immigrant Policy Center
  • California Institute for Rural Studies, Inc.
  • California Pan-Ethnic Health Network
  • California Planned Parenthood Education Fund, Incorporated
  • California Primary Care Association
  • California Rural Indian Health Board, Inc.
  • California Rural Legal Assistance, Inc.
  • California School Based Health Alliance
  • California State Parks Foundation
  • California State University, Fresno Foundation
  • California Urban Partnership
  • California Walks
  • Californians for Justice Education Fund, Inc.
  • Cangress
  • Capital Public Radio, Inc.
  • Caruthers Unified School District
  • Castroville Coalition
  • Catalyst of San Diego and Imperial Counties
  • Catholic Charities of Stockton
  • Catholic Charities of the Diocese of Fresno
  • Causa Justa Just Cause
  • CCF Community Initiatives Fund
  • Center for Community Health and Well-Being, Inc.
  • Center for Community Self-Help
  • Center for Community Solutions
  • Center for Domestic Peace
  • Center for Empowered Politics Education Fund
  • Center for Empowering Refugees and Immigrants, Inc. – CERI
  • Center for Media Justice
  • Center for Non-Violent Education and Parenting
  • Center for the Study of Social Policy
  • Center for Young Women’s Development
  • Center for Youth Wellness
  • Center on Budget and Policy Priorities
  • Center on Juvenile and Criminal Justice
  • Center on Policy Initiatives
  • Central Coast Alliance United for a Sustainable Economy
  • Central Coast Innerfaith Sponsors, Inc.
  • Central Valley Community Foundation
  • Central Valley Health Network Inc.
  • Centro Binacional Para El Desarrollo Indigena Oaxaqueno
  • Centro Cultural de Mexico en el Condado de Orange
  • Centro La Familia Advocacy Services, Inc.
  • Century Villages At Cabrillo, Inc.
  • Cesar Chavez Foundation
  • Cesar Chavez Service Clubs
  • ChangeLab Solutions
  • Charitable Ventures of Orange County, Inc.
  • Charles Drew University of Medicine and Science
  • Chicana Foundation of Northern California
  • Chicano and Latino Youth Leadership Project
  • Chico Community Publishing, Inc.
  • Children NOW
  • Children’s Defense Fund
  • Children’s Funding Project
  • Chinese for Affirmative Action
  • Chinese Progressive Association
  • Choices for Freedom, Inc.
  • Cid and Macedo, Inc.
  • Circles of Support and Accountability – Fresno, Inc.
  • City Charter School
  • City Fabrick
  • City Heights Community Development Corporation
  • City of Crescent City
  • City of Hope
  • City of Richmond
  • Clay Counseling Foundation
  • Clinicas de Salud Del Pueblo, Inc.
  • CoachMe Health
  • Coalition of Orange County Community Clinics
  • Coleman Children and Youth Services
  • College Track
  • Comite Civico Del Valle, Inc.
  • Common Counsel Foundation
  • Communities for a Better Environment
  • Communities In Schools of Los Angeles, Inc.
  • Communities United for Restorative Youth Justice
  • Community Advocates for Just and Moral Governance
  • Community Alliance With Family Farmers Foundation
  • Community and Youth Outreach, Inc.
  • Community Board Program
  • Community Clinic Association of Los Angeles County
  • Community Clinic Consortium
  • Community Coalition for Substance Abuse Prevention and Treatment
  • Community Conscience
  • Community Development Finance
  • Community Foundation for Monterey County
  • Community Foundation Santa Cruz County
  • Community Foundation Sonoma County
  • Community Health Action Network
  • Community Health Association Inland Southern Region
  • Community Health Councils, Inc.
  • Community Health Partnership of Santa Clara County Incorporated
  • Community Initiatives
  • Community Justice Alliance, Inc.
  • Community Media Access Collaborative
  • Community Partners
  • Community Vision Capital and Consulting
  • Community Water Center
  • Confluence Philanthropy, Inc.
  • Congregations Organized for Prophetic Engagement
  • Congressional Hispanic Caucus Institute, Inc.
  • Consolidated Tribal Health Project, Inc.
  • Contra Costa Regional Health Foundation
  • Coro Southern California, Inc.
  • Council of Community Clinics
  • Council on American-Islamic Relations – California
  • Council on Foundations, Inc.
  • County Health Executives Association of California
  • Court Appointed Special Advocate of Del Norte County
  • Covenant House California
  • CPCA Ventures
  • Creative Visions Foundation
  • Cross-Movement Legacy Initiative
  • CSULA Auxiliary Services, Inc.
  • Cultiva La Salud
  • David Ng Photography
  • Define American
  • Del Norte Child Care Council
  • Del Norte Mission Possible
  • Designing Justice and Designing Spaces
  • Digital Organizing, Power-Building and Engagement Labs – DOPE Labs
  • Dignity and Power Now
  • Direct Relief
  • Disability Rights Advocates, a National and International Center for Advancement of People W.
  • Dolores C. Huerta Foundation
  • Drew Child Development Corporation, Inc.
  • East Bay Asian Youth Center
  • East Bay Center for the Performing Arts
  • East Bay Community Foundation
  • East Bay Community Law Center
  • East Los Angeles Women’s Center
  • East Yard Communities for Environmental Justice
  • Eastside Arts Alliance
  • Economic Development Corporation of Los Angeles
  • EdSource, Inc.
  • Education Trust, Inc.
  • Educators for Excellence
  • Edward Charles Foundation
  • El Teatro de la Tierra
  • Ella Baker Center for Human Rights in California
  • Emerald Cities Collaborative, Inc.
  • Emmanuel Church of God in Christ
  • EmpowHer Institute, Inc.
  • Engage R&D, Inc.
  • Environmental Council of Sacramento, Inc.
  • Environmental Health Coalition
  • Environmental Media Association, Inc.
  • Epicenter of Monterey
  • Equal Justice Initiative
  • Equal Justice Society
  • Equal Measure
  • Equality Alliance of San Diego County
  • Equality California Institute
  • Equivolve Consulting, LLC
  • Esperanza Community Housing Corporation
  • Essential Access Health
  • Fairbank, Maslin, Maullin, Metz and Associates, Inc.
  • Fairplex Child Development Center
  • Faith in Action East Bay
  • Faith in Action Network
  • Faith in the Valley
  • Families in Schools
  • Families USA Foundation, Inc.
  • Family Resource Center of the Redwoods
  • Farmworker Justice Fund, Inc.
  • Fathers and Families of San Joaquin
  • Feeding San Diego
  • Fernandeño Tataviam Band of Mission Indians
  • Filipino Advocates for Justice
  • Filipino Migrant Center
  • First Nations Development Institute
  • Food Chain Workers Alliance, Inc.
  • Food Research and Action Center, Inc.
  • Forward Change
  • Forward Redding Foundation
  • Fostering Media Connections
  • Foundations, Inc.
  • Four Winds of Indian Education
  • Fresno Area Youth Coalition
  • Fresno Arts Council Inc.
  • Fresno Barrios Unidos
  • Fresno Building Healthy Communities
  • Fresno County Economic Opportunities Commission
  • Friends of Calwa, Inc.
  • Friends of Children With Special Needs
  • Fund for Santa Barbara, Inc.
  • Funders for Lesbian and Gay Issues, Inc.
  • Futures Without Violence
  • Gamaliel of California
  • Gateway Education of the Wild Rivers Coast
  • Gathering For Justice Inc.
  • Gender Health Center
  • Genders and Sexualities Alliance Network
  • Generation Red Road, Inc.
  • Generative Somatics
  • Gente Organizada
  • George Washington University
  • Get Lit Words Ignite, Inc.
  • Global Impact Investing Network, Inc.
  • GO Public Schools
  • GO2 Foundation for Lung Cancer
  • Grantland L. Johnson Institute of Leadership Development
  • Grantmakers Concerned with Immigrants and Refugees
  • Grantmakers for Education
  • Grantmakers for Effective Organizations
  • Grantmakers in Health
  • Grassroots Global Justice
  • Grassroots Policy Project
  • Green Technical Education and Employment
  • Greenlining Institute
  • Groundswell Fund
  • Haitian Bridge Alliance
  • Healing Hearts Restoring Hope
  • Health Access Foundation
  • Health Alliance of Northern California
  • Health Career Connection, Inc.
  • Health Initiatives for Youth, Inc.
  • Healthy Community Forum for the Greater Sacramento Region
  • Heart of Los Angeles Youth, Inc.
  • Helpline Youth Counseling
  • Hispanas Organized for Political Equality – California
  • Hispanics in Philanthropy
  • Hmong Cultural Center of Del Norte County
  • Hollister Youth Alliance
  • Homeboy Industries
  • Homeward Bound of Marin
  • Human Impact Partners
  • Humboldt Area Foundation
  • Humboldt State University Sponsored Programs Foundation
  • Immigrant Legal Resource Center
  • Imperial Valley LGBT Resource Center
  • Improve Your Tomorrow
  • In Spirit
  • InAdvance
  • Inclusive Action for the City
  • Independent Sector
  • Initiate Justice
  • Inland Congregation United for Change Sponsoring Committee, Inc.
  • Inland Empire Community Collaborative
  • Inland Empire Community Foundation
  • Inland Empire Concerned African American Churches
  • InnerCity Struggle
  • Innovation Law Lab
  • Insight Center for Community Economic Development
  • Insight Garden Program
  • Institute for Strategic and Equitable Development
  • Institute for the Future
  • Insure the Uninsured Project
  • Interfaze Educational Productions, Inc.
  • International Rescue Committee, Inc.
  • Intersection for the Arts
  • Intertribal Friendship House
  • Iu Mien Community Services
  • iWorkGlobal USA, LLC
  • J-Sei, Inc.
  • Jakara Movement
  • Jewish Family Service of San Diego
  • K’ima:w Medical Center
  • Kee Cha-E-Nar Corporation
  • KFUG Community Radio, Inc., a Non-Profit Public Benefit Corporation
  • Khmer Girls In Action
  • Khmer Parent Association
  • Kiwanis Club of Greater Merced Foundation
  • Kno Qoti Native Wellness, Inc.
  • Korean Resource Center, Inc.
  • Kounkuey Design Initiative, Inc.
  • L A Voice
  • Labor Community Strategy Center
  • Labors Training and Community Development Alliance
  • LaMont Digital, LLC
  • Larkin Street Youth Services
  • Latino Center for Prevention and Action in Health and Welfare
  • Latino Center of Art and Culture
  • Latino Community Foundation
  • Latinos in Action
  • Leadership Counsel for Justice and Accountability
  • LeadersUp
  • Leading From Within
  • Legacy LA Youth Development Corporation
  • Legal Aid Foundation of Los Angeles
  • Legal Aid Society of San Diego
  • Legal Services for Children, Inc.
  • Liberty Hill Foundation
  • Library Foundation of Los Angeles
  • Local Government Commission
  • Los Angeles Alliance for a New Economy
  • Los Angeles Brotherhood Crusade – Black United Fund, Inc.
  • Los Angeles County – University of Southern California Medical Center Foundation
  • Los Angeles County Commission for Women
  • Los Angeles Free Clinic
  • Los Angeles LGBT Center
  • Los Angeles Regional Food Bank
  • Los Angeles Urban League
  • Lost Angels Children’s Project, Inc.
  • Love, Faith and Hope, Inc.
  • LTSC Community Development Corporation
  • Lung Cancer Research Foundation
  • Lunia Blue Graphics
  • M F Place, Inc.
  • Making Choices Mentoring Program
  • March for Science Sacramento
  • Marin Senior Coordinating Council Incorporated
  • Marjaree Mason Center, Inc.
  • Marshall B. Ketchum University
  • Martin Luther King, Jr. Community Health Foundation
  • Mary Magdalene Community Services Agency
  • Maternal and Child Health Access
  • Matter Unlimited, LLC
  • Mayors Fund for Los Angeles
  • MDF Fund I, LP
  • MDP Foundation
  • Meals on Wheels America
  • Media Working Group
  • Memorial Medical Center Foundation
  • Merced Lao Family Community, Inc.
  • Merced LGBTQ Alliance
  • Mercy Foundation North
  • Mexican American Legal Defense and Educational Fund
  • Mexican Cultural Center of Northern California
  • Michael Paul Price dba Edit24-7
  • Minority AIDS Project
  • Mission Edge San Diego
  • Mission Investors Exchange, Inc.
  • Mixte Communications, Inc.
  • Mixteco Indigena Community Organizing Project
  • Monterey County Children and Families First Commission
  • Monterey County Office of Education
  • Monterey County, County Administrative Office
  • Moses House Ministries
  • Mothers In Action, Inc.
  • Movement Strategy Center
  • mRelief
  • Mutual Assistance Network of Del Paso Heights
  • My Sister’s House
  • MyHealthEd, Inc.
  • National Academy of Sciences
  • National Black Women’s Justice Institute
  • National Center for Lesbian Rights
  • National Center for Youth Law
  • National Coalition Building Institute, Inc.
  • National Committee for Quality Assurance
  • National Committee for Responsive Philanthropy
  • National Compadres Network, Inc.
  • National Conflict Resolution Center
  • National Day Laborer Organizing Network
  • National Foster Youth Institute
  • National Foundation for the Centers for Disease Control and Prevention, Inc.
  • National Health Law Program, Inc.
  • National Immigration Law Center
  • National Medical Fellowships, Inc.
  • National Urban Fellows, Inc.
  • National Urban League, Inc.
  • Native Americans in Philanthropy
  • Native Dads Network
  • Native Women’s Collective
  • Neighborhood Funders Group
  • Neighborhood Industries
  • Neighborhood Legal Services of Los Angeles County
  • NEO Philanthropy, Inc.
  • Network on Women in Prison
  • New Breath Foundation
  • New Hope Grief Support Community
  • New Venture Fund
  • Nonprofit Finance Fund
  • NorCal Resist
  • North Coast Clinics Network
  • Northern California Grantmakers
  • Northern California Indian Development Council, Inc.
  • Northern Valley Catholic Social Service, Inc.
  • Nourish California
  • NPG of Monterey-Salinas CA, LLC dba KION, KMUV and/or NION
  • Oakland Community Land Trust
  • Oakland Kids First
  • Oakland Unified School District
  • Occidental College
  • Old Skool Cafe
  • Olive Crest
  • OneOC
  • Open Door Community Health Centers
  • Operation USA
  • Opportunity Fund Community Development
  • Orange County Asian and Pacific Islander Community Alliance, Inc.
  • Orange County Community Foundation
  • Organizacion en California de Lideres Campesinas, Inc.
  • Organize Sacramento
  • Our Family Coalition
  • Panetta Institute for Public Policy
  • Parent Institute for Quality Education, Inc.
  • Parent Voices Oakland
  • Partnership for the Advancement of New Americans
  • Patient Care Foundation of Los Angeles County
  • Patricia E. Powers dba Health Innovations Group
  • Paving Great Futures
  • PEAK Grantmaking, Inc.
  • Peer Health Exchange, Inc.
  • Pesticide Action Network North America Regional Center
  • Pillars of the Community
  • Pinyon Foundation
  • Playhouse Arts
  • Poder in Action, Inc.
  • POGO Park
  • Point Source Youth, Inc.
  • Policy Impact
  • PolicyLink
  • Pomona College
  • Pomona Community Foundation
  • Pomona Economic Opportunity Center
  • Positive Communication Practices, Inc.
  • Power California
  • Prescott-Joseph Center for Community Enhancement, Inc.
  • Prevent Child Abuse California
  • Prevention Institute
  • Project HOPE – The People-to-People Health Foundation, Inc
  • Project Open Hand
  • Proteus Fund, Inc.
  • Providence Health & Services – Oregon dba Providence Portland Medical Center
  • PTA California Congress of Parents, Teachers and Students, Inc.
  • Public Advocates, Inc.
  • Public Counsel
  • Public Health Advocates
  • Public Health Institute
  • Public Media Group of Southern California
  • Public Policy Institute of California
  • Pueblo Unido CDC
  • Puente de la Costa Sur
  • Pukuu Cultural Community Services
  • Race Forward
  • Radio Bilingue, Inc.
  • Redwood Community Health Coalition
  • Regents of the University of California
  • Representation Project
  • Resource Media, A Nonprofit Corporation
  • Restorative Justice for Oakland Youth
  • Restorative Justice League
  • Richmond Community Foundation
  • Richmond Promise
  • Right to the City Alliance, Inc.
  • RISE Urban Leadership Institute of San Diego
  • River’s Edge Ranch
  • Rockwood Leadership Institute
  • Rolling Hills United Methodist Church
  • Root and Rebound
  • Roots Community Health Center
  • Rose Foundation for Communities and the Environment
  • Rubicon Programs, Inc.
  • Sacramento Area Congregations Together
  • Sacramento Community Land Trust, Inc.
  • Sacramento LGBT Community Center
  • Sacramento Valley Organizing Committee
  • Safe Passages
  • Safe Routes To School National Partnership
  • San Bernardino Community College District
  • San Diego Organizing Project
  • San Francisco Community Clinic Consortium
  • San Francisco Food Bank
  • San Francisco Foundation
  • San Francisco Public Health Foundation
  • San Geronimo Valley Community Center
  • Santa Cruz Community Ventures
  • Science and Technology Education Partnership
  • Self Awareness and Recovery
  • Self Help Ventures Fund
  • Self-Help Enterprises
  • Self-Help Graphics and Arts, Inc.
  • Semillas Sociedad Civil
  • Shanti Project, Inc.
  • Shasta County Young Men’s Christian Association
  • Shasta Regional Community Foundation
  • Sierra Club Foundation
  • Sierra Health Foundation Center for Health Program Management
  • Sierra Nevada Journeys
  • Sigma Beta Xi, Inc.
  • Silicon Valley Community Foundation
  • Siskiyou Community Resource Collaborative
  • Small Business Majority Foundation, Inc.
  • Smartmeme, Inc.
  • So oh Shinálí Sister Project
  • Social Advocates for Youth San Diego, Inc.
  • Social and Environmental Entrepreneurs, Inc.
  • Social Good Fund
  • Social Impact Fund
  • Social Justice Learning Institute, Inc.
  • Soil Born Farm Urban Agriculture Project
  • Solano Community Foundation
  • Somali Family Service of San Diego
  • Somos Familia Valle
  • Somos Mayfair, Inc.
  • Sonoma County Indian Health Project, Inc.
  • Source LGBT Center, Inc.
  • Southeast Asia Resource Action Center, SEARAC
  • Southeast Asian Community Alliance
  • Southern California Center for Nonprofit Management
  • Southern California Education Fund
  • Southern California Grantmakers
  • Southern California Public Radio
  • Spanish-Speaking Unity Council of Alameda County, Inc.
  • Special Service for Groups, Inc.
  • Spinx, Inc.
  • St. John’s Well Child and Family Center, Inc.
  • St. Joseph Center
  • St. Vincent de Paul Planada Sacred Heart Conference
  • Stanislaus Multi Cultural Health Coalition West Modesto King
  • Starting Over, Inc.
  • State Center Community College Foundation
  • Street Level Health Project
  • Students Run America
  • Survivors of Torture, International
  • Sustainable Agriculture and Food Systems Funders
  • TELACU Education Foundation
  • Tenants Together
  • Teng and Smith, Inc.
  • The AjA Project
  • The Alameda County Community Food Bank, Inc.
  • The Aspen Institute Inc.
  • The California Conference for Equality and Justice, Inc.
  • The Center for Cultural Power
  • The Center for Sexuality and Gender Diversity
  • The Children’s Clinic Serving Children and Their Families
  • The Freedom Bound Center
  • The Funders’ Network, Inc.
  • The Latina Center
  • The Learning Centers at Fairplex
  • The LGBTQ Community Center of the Desert
  • The Mentoring Center
  • The New Press, Inc.
  • The Oakland Public Education Fund
  • The Partnership for Working Families
  • The Place4Grace
  • The Praxis Project, Inc.
  • The Raben Group, LLC
  • The Regents of the University of California (University of California, Berkeley)
  • The Regents of the University of California (University of California, Davis)
  • The Regents of the University of California (University of California, Irvine)
  • The Regents of the University of California (University of California, Los Angeles)
  • The Regents of the University of California (University of California, San Diego)
  • The Seattle Foundation
  • The Seventh Generation Fund for Indigenous Peoples, Inc.
  • The TransLatin Coalition
  • The UCLA Foundation
  • The University Foundation California State University Chico
  • The Village Project
  • Thomas Pyun
  • Three Sisters Gardens
  • THRIVE Santa Ana
  • Tides Center
  • Tides Foundation
  • Time for Change Foundation
  • Todec Legal Center Perris
  • TOLA Organizing Academy
  • Torres Martinez Desert Cahuilla Indians
  • Touro University
  • TransFormCa
  • Transgender Law Center
  • Transitional Youth Mobilizing for Change
  • Trees Foundation
  • True North Organizing Network
  • Trust for Public Land
  • Two Feathers – NAFS
  • UFW Foundation
  • Ujima Adult and Family Services
  • Unitarian Universalist Fellowship of Kern County
  • United Cambodian Community
  • United Latinos Promoviendo Accion Civica
  • United Roots
  • United Way of Merced County, Inc.
  • United Way of San Diego County
  • United Way, Inc.
  • United Ways of California
  • United We Dream Network, Inc.
  • United Womens East African Support Team
  • University Muslim Medical Association, Inc.
  • University of California Berkeley Foundation
  • University of Southern California
  • Urban Habitat Program
  • Urban Institute
  • Urban Strategies Council
  • Urban Tilth
  • Utility Reform Network
  • Ventura County Community Foundation
  • Viet Rainbow of Orange County
  • Vigorous Interventions in Ongoing Natural Settings, Inc.
  • Virginia Organizing, Inc.
  • Vision 2000 Educational Foundation
  • Vision y Compromiso
  • Visions Manifested, LLC
  • VoiceOfOrangeCounty.org
  • Volunteers of America, Inc.
  • W. Haywood Burns Institute
  • Walden Environment
  • WALKSacramento
  • Warehouse Worker Resource Center
  • WeAreRally, LLC
  • Well of Healing Mobile Medical Clinic
  • West Contra Costa Public Education Fund
  • West Fresno Health Care Coalition
  • West Marin Senior Services
  • Westminster Free Clinic
  • Westmont College
  • Westside Family Health Center
  • Willow Creek Youth Partnership
  • Wind Youth Services
  • Women’s Foundation of California
  • Workers Lab
  • World Interdependence Fund
  • Yes 2 Kollege Educational Resources, Inc.
  • Yes Nature to Neighborhoods
  • Yosemite Foundation
  • Young Invincibles
  • Young Men’s Christian Association of Metropolitan Los Angeles
  • Young Scholars for Academic Empowerment
  • Youth Justice Coalition
  • Youth Leadership Institute
  • Youth Mentoring Action Network
  • Youth Outside
  • Youth Radio
  • Youth Together, Inc.
  • Yurok Alliance for Northern California Housing
  • YXPlosion, LLC

Consolidated Statements for 2023

Consolidated Statements of Financial Position

March 31, 2022 and 2021, in thousands of dollars
Assets 2022 2021
Cash & cash equivalents $ 330,732 $ 329,603
Investments $ 4,260,875 $ 4,155,569
Program-related investments, net $ 61,452 $ 62,158
Other assets $ 6,888 $ 5,552
Deferred tax asset $ 13,813 $ 12,733
Property & equipment, net $ 79,001 $ 80,817
Total Assets $ 4,752,761 $ 4,646,432
Liabilities & net assets without donor restrictions 2022 2021
  Accounts payable & other liabilities $ 12,786 $ 13,464
  Grants payable, net $ 18,466 $ 33,503
  Long-term debt $ 298,666 $ 298,613
  Accrued post-retirement obligation $ 1,078 $ 2,811
    Total Liabilities $ 330,996 $ 348,391
Net assets without donor restrictions $ 4,421,765 $ 4,298,041
    Total Liabilities & net assets $ 4,752,761 $ 4,646,432

Consolidated Statements of Activities

March 31, 2022 and 2021, in thousands of dollars
Investment Return 2022 2021
Net gain (loss) on investments $ 324,571 $ 1,162,527
Program-related investment interest and other income $ 3,927 $ 3,745
 Total income $ 328,498 $ 1,166,272
Expenses 2022 2021
Grants awarded $ 150,203 $ 138,652
Direct charitable expenses $ 13,345 $ 18,423
Program operating expenses $ 23,331 $ 25,931
General and administrative expenses $ 6,022 $ 6,323
Program-related investment expenses $ (461) $ 4,101
Interest expense $ 7,390 $ 1,317
Tax provision
  Current $ 6,693 $ 1,640
  Deferred $ (1,138) $ 5,984
 Total expenses $ 205,385 $ 202,371
Excess (deficiency) of income over expenses $ 123,113 $ 963,901
 Pension-related changes other than net periodic pension cost $ 611 $ 3,619
Change in net assets without donor restrictions $ 123,724 $ 967,520
Net assets without donor restrictions 2022 2021
Beginning of year $ 4,298,041 $ 3,330,521
End of year $ 4,421,765 $ 4,298,041

Consolidated Statements of Cash Flows

March 31, 2022 and 2021, in thousands of dollars
Cash flows from operating activities 2022 2021
Change in net assets without donor restrictions $ 123,724 $ 967,520
Adjustments to reconcile change in net assets without donor restrictions to net cash used in operating activities
 Net realized and unrealized (gain) loss on investments $ (294,504) $ (1,153,511)
 Dividends, interest, and other investment income, net of fees $ (921) $ (1,068)
 Amortization of program-related investment discount $ (2,180) $ (2,431)
 Depreciation on property and equipment $ 2,993 $ 3,313
 Provision on program-related investments $ (290) $ 3,734
 Net periodic pension cost $ 697 $ 1,684
 Deferred taxes $ (1,138) $ 5,984
 Change in operating assets and liabilities
  Program-related investments $3,177 $ (11,553)
  Other assets $ (1,336) $ (3,878)
  Contributions into postretirement plan $ (1,516) $ (2,000)
  Accrued postretirement obligation $ (914) $ (3,619)
  Accounts payable and other liabilities $ 2,840 $ 307
  Grants payable $ (15,037) $ (43,407)
    Net cash used in operating activities $ (184,405) $ (238,925)
Cash flows from investing activities 2022 2021
Purchase of property and equipment $ (1,130) $ (1,205)
Purchases of investments $ (875,643) $ (1,086,100)
Proceeds from sales of investments $ 1,062,307 $ 1,338,698
  Net cash provided by investing activities $ 185,534 $ 251,393
Cash flows from financing activities 2022 2021
Proceeds from bond issuance - $ 300,000
Payments of debt issue costs - $ (1,393)
  Net cash provided by financing activities - $ 298,607
Net increase (decrease) in cash and cash equivalents $ 1,129 $ 311,075
Cash and cash equivalents 2022 2021
Beginning of year $ 329,603 $ 18,528
End of year $ 330,732 $ 329,603
Supplemental disclosures of cash flow information 2022 2021
Cash paid during the year for federal excise taxes $ 5,500 $ 5,547
Cash paid during the year for interest $ 7,494 $ 1,317
Noncash investing activities—pending investment trades $ (8,622) $ (13,628)

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Welcome Letter

A Message From the

Endowment Leadership

Annual Report 2023

Working towards a “California For All” in the 21st Century

Annual Report 2023

Building a 21st Century


Annual Report 2023
TCE’s Hope Village

Hope Lives Here

Impact Investing

When Investments Inspire

Annual Report 2023
Our Social Bond

The Future of Power Building

in California

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Grantee Partners We Supported in 2022

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0 Organizations
$0M In grants, contracts, and PRIs awarded

Consolidated Statements

for 2023

Annual Report 2023