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Review blasts Ventura County Community Foundation fiscal management

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

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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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