Financial Oversight

The Community Foundation of the Verdugos (CFV) has been serving the area’s philanthropic needs since 1956 when it was first established as the Glendale Community Foundation. As a public 501 (c)(3) nonprofit, the CFV is not a private foundation and donations are accepted from the public at large while funding to community needs is broad, ranging from education, arts or civic needs, to health, human services, or the environment. The Foundation’s mission is to build enduring resources for the benefit of people in the Verdugo area … for good, for ever. This is done through the management of donor advised funds established by individuals, businesses, nonprofits, and community groups.
The CFV can act as a fiscal sponsor to help address community needs for the benefit of all.

There are currently over 95 different funds managed by the Community Foundation of the Verdugos. The PAGMC Fund is among these. The purpose of the funds is to create resources that result in grants and funding to address community needs. The Foundation issues grants from these funds to nonprofits and in the case of the PAGMC Fund, the donations raised are strictly restricted for the construction of a historic memorial slated for completion in 2015. The CFV also manages the Veterans Memorial Fund in Glendale, CA, established by Larry Zarian and a committee of community representatives years ago. It acted as a repository for donations in the construction of the memorial and the Fund remains today to cover costs of the memorial’s maintenance as well as now providing additional funds, upon advice of the Committee, for specific needs of selected Veterans.

The CFV holds membership in the League of California Community Foundations as well as the National Council on Foundations which issues a National Standards certification. National Standards indicates that the CFV meets criteria in its operations, including an annual audit, that ensures transparency and fulfillment of donated funds toward the needs that they were intended for.

The CFV acknowledges all donations with a written confirmation. Donors are listed in its annual reports. Its responsibility for due diligence and oversight in ensuring that funds are used toward specified needs, along with policies that prevent conflict of interest, make it the choice for a number of organizations that benefit through the establishment of a fund. Please contact us at 818-241-8040 if we can be of assistance in any way. And thank you for your support of this historic memorial project to remember the innocent lives lost during the Armenian Genocide.