Review blasts Ventura County Community Foundation fiscal management

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Review blasts Ventura County Community Foundation fiscal management

By Alex Kacik / Friday, June 24th, 2016 / Comments Off on Review blasts Ventura County Community Foundation fiscal management

The Ventura County Community Foundation is restructuring. An independent fiduciary review found that the Ventura County Community Foundation undervalued donor-restricted funds due to improper fund management, VCCF announced on June 22. The seven-month report by auditor KPMG found that the foundation invested permanent funds in money-market accounts, over-allocated interest income to VCCF’s unrestricted funds and…

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