President’s Welcome 2020
I joined the Carrie Estelle Doheny Foundation in December of 1980. At that time, we had Assets of $44M and were paying out 5% in grants. Since then our Assets have grown to $180M and we have disbursed over $250M in grants. A growing marketplace, the guidance of professional portfolio advisors and the oversight of Nina Shepherd and our Board Members over that time contributed to this happening.
Mrs. Doheny established her foundation for the poor and underserved, for the education of our youth, and for the works of the Catholic Church through its ministries, programs, and schools. This year we awarded 270 grants for about $8m. 90% of these funds went to the poor and underserved. 85% of the funds are administered by religious and faith-based organizations. 70% of awards are to improve and increase the availability of education in Los Angeles. We have dedicated Staff that evaluate and visit our potential guarantees. Our board members join in some of these visits.
What started out to be a donation has become a partnership. Those we serve become our Teachers and our Sisters and Brothers, who help us stay in touch with the most important part of accomplishing Mrs. Doheny’s mission. We join with them, providing opportunities like education, health, values, and nourishment. For me personally, it has been a very special gift in life.
Robert A Smith III