2022 Annual Report: Reimagine the Bay

2022 Annual Report: Reimagine the Bay

“We want to create a Bay Area where all have good jobs, live in affordable homes, and have strong political voices. This is our vision of what our region could be. The solutions are on the horizon, not in the rearview mirror.”

Fred Blackwell
San Francisco Foundation CEO
SFF CEO Fred Blackwell

For nearly 75 years, the San Francisco Foundation has been a trusted partner for donors, grantees, and community leaders who are interested in improving the lives of others and strengthening the Bay Area. Anybody interested in doing good has a place at our table. As a community foundation, we serve the whole region because our lives and our communities are connected.

Together, we can take on issues that are too big for any individual. We can look to the horizon and make the Bay Area better. Last year, thanks to the incredible generosity of our donors, we supported 3,004 organizations with a total of $238.2 million in grants.

Your generosity supported an amazing array of activities such as the arts, housing equity, education, and building a racially just and economically inclusive Bay Area. With the support of our donors and partners, SFF supported the development of Keep Oakland Housed (KOH). Now a stand-alone program, KOH has prevented homelessness for over 7,200 households. This year, KOH was awarded the U.S. Department of Housing and Urban Development’s Secretary’s Award for Public-Philanthropic Partnerships in recognition of its achievements.

Two years ago, we were thrust into a racial reckoning by the murder of George Floyd and a pandemic that brought profound suffering to the Bay Area’s communities of color. Equity was suddenly in every room. Big commitments were made. However, as the world begins to reopen, I am seeing a clear retreat from that moment. People are fighting to remove any discussion of race from our classrooms. Communities of color, who marched in solidarity, are now being pitted against each other. Some leaders are arguing that centering racial equity means we cannot build a big tent.

I stand firm in our commitment to a racially just Bay Area. That commitment was not born of a moment. It was born of the realities our neighbors live. For all of us to thrive, we must focus our efforts on supporting communities that have borne the brunt of our country’s ongoing racial discrimination. We simply cannot leave people behind. This is how we build an inclusive future in which we all have a stake.

We are using every tool we have to reach our North Star. We want to create a Bay Area where all have good jobs, live in affordable homes, and have strong political voices. This is our vision of what our region could be. The solutions are on the horizon, not in the rearview mirror.

Thank you for uniting in a shared vision for a future in which we can all prosper. We are honored to stand shoulder-to-shoulder with you as we embark on the work ahead.

Fred Blackwell 
CEO, San Francisco Foundation 


Supporting an Equitable Bay Area

To support our vision for a racially just and economically inclusive Bay Area, we supported 387 community organizations with $46.7 million in grants.  Over the past year, in close consultation with Latinx nonprofit leaders, we developed the Latinx Power Building Initiative. This initiative will provide $2.5 million to a cohort of ten Latinx-led and serving organizations over two years to support and strengthen their power-building work.

Partnering with Donors

We helped connect an incredible network of engaged donors to nonprofit organizations that are working tirelessly to make our region a better place. Over the last year, donors supported 2617 organizations with $190.7 million in grants. 54% of grants were made to organizations headquartered in the Bay Area. Following an SFF Donor Dialogue event about the Bay Area housing crisis, one donor made grants of over $700,000 to support the featured organizations.

Investing for Impact

Our Bay Area Community Impact Fund (BACIF) deepened its focus on racial equity and inclusion by closing two new loans totaling $2.4 million for projects that focus on businesses and communities of color. Over the next five years, we will add ~$20 million to BACIF to provide additional low-interest loans to local nonprofits, generating deep impact in priority neighborhoods.

Providing Regional Leadership 

We helped our community address the ongoing impacts of the pandemic and continue our work for a recovery that radically reimagines a better reality for all. We brought together regional governments to align to a regional recovery that emphasizes equity.

Convening our Community 

Over the past year, we hosted  events focused on Black women in leadership and solutions for our housing crisis. We convened a community advisory council, provided trainings to partners on using the Bay Area Equity Atlas, and supported community partners with communications.

 Going All in on Housing

In partnership with community, we advocated for policies to prevent evictions, create affordable housing, and address homelessness. We helped win $20 million from the state for a new regional housing entity to pilot new ways to protect tenants along with producing new affordable housing and preserving already affordable housing.

Innovation and Systems Change

To realize our vision, we must move forward with a focus on innovation and changing the systems that were put in place to hold back Black, Brown, and Asian communities. Below are a couple of examples of our approach.

Partnership for the Bay’s Future

The Partnership for the Bay’s Future’s Policy Grant program brings local governments and community partners together to facilitate collaboration and community engagement and co-create more robust, effective, and equitable housing policy.

The Partnership for the Bay’s Future’s Family of Loans brings more than $500 million of catalytic capital to support affordable housing. It takes on the initial risk for creating new loan products that are missing from the market to build affordable housing.

Supporting Housing Statewide

Over 161,000 Californians are experiencing homelessness. Without a solution, our housing crisis will drive up homelessness, slow our economy, and threaten our children’s future. Increasing affordable housing requires regional and state changes and ongoing public funding. SFF is helping to envision and support regional and state coalitions of diverse housing advocacy stakeholders. 

Together we will build a stronger, coordinated infrastructure, align our current campaigns, plan for statewide priorities, strengthen connections within and between regions, and increase community voice in affordable housing policy.

Our Leadership

We are committed to using every tool in our toolbelt to achieve lasting change. This past year, we funded research on the pandemic’s inequitable impacts and convened cross-sector decision makers to improve working conditions for low-wage workers and keep families in their homes. We hosted education forums, published voter guides, and advocated for policies that advance racial equity and economic inclusion. 

Tenets of our Leadership to Advance Equity
Center communities of color

We supported and celebrated the leadership of womxn of color in local governments. We commissioned data on the diversity of experience within our region’s Asian American and Pacific Island populations for the Bay Area Equity Atlas. 

Influence public policy

Among the issues on which we worked, we co-hosted working groups from the mayors’ offices of San Francisco, San Jose, and Oakland along with community partners to harness the region’s collective power to reimagine and rebuild a Bay Area where everyone can thrive.  

Amplify community voice

Over the past year, we worked with a network of community partners to tackle the issues that impact them, including reforming child support so families have the resources they need and increasing access to housing that is affordable.  

Bay Area Leads Fund

The Bay Area Leads Fund supports the San Francisco Foundation’s leadership activities to create an equitable Bay Area. We look forward to seeing how we, together, will continue to double down on this work in the year to come. 

“If you’re focused on a racial equity agenda, ultimately, you’re going to need to move policy in order to achieve your and objectives and the work is difficult. Engaging people civically, doing the organizing, doing some of the policy influencing work is challenging and it needs to have flexible capital that’s patient and has long timelines.” 

Justin Steele
SFF Trustee, and Director, Google.org Americas

Thank you, Bay Area Leads Fund Donors

Neil Adames
Cyna Alderman
Nancy Aldritt
Anonymous (8)
Karolo Aparicio
Atlas Project Alumni
Ophelia Basgal
The Benevity Community Impact Fund
Peter Birke
Jeffery Bradach
Brickyard Family Fund (A)
Brickyard Family Fund (C)
Callan Family Fund
CharityVest Inc.
Satchel Coburn
Nancy Conover
Charlie and Karen Couric
Kerry Davis
Meredith Shuey Etherington and Simon Etherington
Michael Firth
Five Arts Fund
Molly Ford
Stanley Frazier
Robert E. Friedman
David A. Friedman and Paulette J. Meyer
Gibbons-Erdberg Fund
Give Lively Foundation Inc.
Valerie Goode
Google, Inc.
Catherine Gormley
Ginnie and Peter Haas, Jr. Fund
Trevor Howarth
David ibnAle and Mollie Ricker
Intuit, Inc.
Karla Jones
A. Joseph Kane
Jodie Karigaca
Kyra Kazantzis
Thuy Kumar
Justina T. Lai
Nick Lam
Kirsten Laughlin
Lawrence Livermore National Lab
Toby and Jerry Levine Fund
Ling Woo Liu

Michael and Catherine LiuBetsy and Ed McDermott Fund
Karl Mill
Steven Miyake
MUFG Union Bank Foundation
Brittany Murlas
Next Fund
Onward Fund
Ruben Orduña and Elizabeth Hill
Osterweis Capital Management, Inc.
Elizabeth Palmer
Laura Pantaleo
Terrence Parker/Yolanda Burrell Account
Harold Pearce
Pelican Fund
Pinecrest Endowment Fund
Christiaan Prins
Progress Investment Management Company Fund
Yvette Radford
Margaret Rhee
Ian Duncan Robertson
John and Barbara Rosston
William and Joan Roth Fund
Rusonis Charitable Fund
Khanh Russo
Sandra Sarrouf
Erica Sigal Philanthropic Fund
Rebecca Smith
Abdi Soltani
Justin and Sally Steele
Sarah  Stein and Michael Cohn Fund
Russell Sterten
Semone Sutherland
Steven Teraoka
Teona Thompson
Lizbeth Upitis
Robert Uyeki
VMware Foundation
Karen Weiss
Jonathan Wen
Sarah White
Kimberly Wicoff
Janelle Wilson
Mary Winton Sheryl L. and Robert R. Wong

Our Numbers

FY22 Snapshot

July 1, 2021 – June 30, 2022

Total Assets:


Total Grants:


Total Contributions & Bequests:


Total Assets by Funds
Our Grantmaking


total grant dollars distributed in FY22


nonprofit organizations supported in FY22


in grants distributed to nonprofits since 1948

Our Program Grants

One of the many ways we invest in a more equitable Bay Area is providing grants to organizations aligned to our equity agenda.


program grants


program grants headquartered in the five-county Bay Area


of Executive Directors identify as BIPOC**
Number of Grants Serving Each County

** Among grantees with race/ethnicity data submitted, FY22

Our Equity Agenda

All people living in the Bay Area are economically secure, rooted in vibrant communities, and engaged in civic life. These are our pathways to racial equity: People, Place, and Power.

For each of our three pathways to racial equity, we make grants, advocate for policies, provide leadership, and bring people together, and build community power to help make community-driven change a reality.


All Bay Area residents should be able to afford to live in neighborhoods where they feel that they belong. Our approach focuses on keeping people in their homes, regional advocacy, supporting thriving neighborhoods, and preserving trusted local organizations.


All Bay Area residents should be able to make a good living and build long-term financial well-being for their families and communities. Our approach focuses on creating just laws and practices, reimagining public safety, building worker power, and building community wealth.


All Bay Area residents should have a strong political voice and shape decisions that affect their lives and communities. Our approach focuses on strengthening grassroots community organizing, developing the next generation of leaders, and promoting voter engagement.

Stories of Impact

Click the sections below to read more about some of the work our grantees and partners did last year to advance racial equity and economic inclusion.


Beyond the Check

Jobs with Justice San Francisco – an alliance of 30+ organizations focused on workers’ rights – has organized workers for better working conditions, supported undocumented workers with emergency aid, and helped pass critical COVID relief such as paid emergency leave for employees. Read the story


Keeping Tenants in Their Homes

Tenants Together is based in San Francisco but has helped keep Californians across the state in their homes. They have trained tenant organizers to build tenant power and counselors to help tenants access resources. They helped a network of over 50 service provider partners stay up-to-date on the rapidly changing local and statewide eviction protections this year. Read the story 


Empowering Young Leaders

Communities United for Restorative Youth Justice (CURYJ) supports youth leaders. Last year, they ran youth empowerment programs, responded to anti-Asian violence, and hosted community meetings focused on reimagining public safety and community-based violence interruption. Read the story

Investing in the Leadership of Communities of Color

This year, we’re proud to report that the vast majority of our equity-focused programmatic grantmaking went to organizations serving and led by Black, Indigenous, and people of color. These communities of color were hardest hit by the COVID-19 pandemic, and our recovery will not be complete if it leaves them behind. 


of Executive  Directors identify as BIPOC**


average amount for our grants


of grantees served a population that was majority BIPOC**

** Among grantees with race/ethnicity data submitted, FY22

In 2020, our Board of Trustees authorized an additional $10 million in grantmaking resources from SFF’s endowment. With these additional resources, we partnered with Black leaders to develop the Bese Saka Initiative, funded Asian American and Pacific Islander organizations standing up against hate, and supported the Latinx Power Fund. These investments are focused on power building to strengthen the civic voices of communities of color.

The communities closest to the problem are also closest to the solution, and we center their voices and vision knowing that the future they work towards will be better, richer, and more vibrant for all people in the Bay Area.

Black Organizing Project is one of the 18 Black-led organizations funded by SFF's new initiative. Photo by Brooke Anderson
Black Organizing Project is one of the 18 Black-led organizations funded by SFF’s Bese Saka Initiative. Photo by Brooke Anderson.
Supporting a Region Rooted in Arts and Culture

A region’s art institutions are a signifier of the health of its civic society. Art is also a form of cultural expression, of identity, of connection, and belonging to a place. For decades, the San Francisco Foundation has played a pivotal role in launching and supporting arts organizations, individual artists, and art movements that strengthen our sense of belonging and inclusion in the Bay Area. Since launching our Equity Agenda in 2016, our arts work has also become an integral strategy to advance racial equity and economic inclusion in the Bay Area. SFF launched the Artistic Hubs Cohorts to support arts organizations that focus on the intersections of artistic excellence, community access, and social justice. This video features our 3rd Arts Cohort.

Donor Advised Grants Snapshot

As a community foundation, we work with hundreds of passionate Bay Area donors to support causes they care most about.


in donor advised fund grants


donor advised fund payout rate

The payout rate, as calculated by the IRS, is the amount that is distributed collectively by our donor advised funds.


of donor advised fund grants went to organizations headquartered in the 5-county Bay Area
color illustration of a family

“We chose to work with the San Francisco Foundation because of its focus on racial equity and its expertise in the Bay Area. . . . We didn’t want to be the resistant, white-led foundation with our heads in the sand. We needed to get involved in the fight for racial equity.”

Trustee of a Bay Area family foundation that sought out SFF’s philanthropic advisory services in 2020

SFF Donors Meeting the Moment

Last year we hosted 12 events – exclusively for SFF fund holders – to share solutions to the region’s most urgent needs and respond to current events.

  • We hosted an event following the tragic events in Afghanistan. SFF donors gave $1 million to support featured organizations.
  • We hosted an event and published a give guide when the U.S. Supreme Court overturned of Roe v. Wade. SFF donors raised $1 million to protect reproductive rights.

“My friend, Deborah Santana, encouraged me to partner with San Francisco Foundation to create my donor advised fund, The Black Harvest Fund. Black farmers need assistance now more than ever. SFF made the process seamless.”

Natalie Baszile is the author of Queen Sugar and We Are Each Other’s Harvest, and she is founder of The Black Harvest Fund.
Donor Desk: Natalie Baszile

Impact Investment

We invest our assets in alignment with our values and with the goal of generating strong long-term investment results. Our fund holders have four investment pools to select from to meet their grantmaking objectives. Each pool screens for certain sectors which hinder our equity agenda.

We intentionally allocate to funds which are majority-owned by women or people of color, going from 2 to 25 managers since 2016.


of our assets managed by women or people of color, compared to 2% globally
# of Funds Majority-owned by Women or People of Color

Private prisons

Predatory Lending


Retailers of Assault Weapons

Fossil Fuels

We screen to exclude these industries in our mission-aligned and short-term pools, as well as in our separately managed accounts in the long-term and endowment pools. Private prisons and predatory lenders are excluded by all managers.

Bay Area Community Impact Fund (BACIF)

BACIF helps make the Bay Area a better and more inclusive place through low-interest loans to community-based organizations that create and preserve jobs, affordable housing, and sustainable communities. As loans are repaid, new investments are made, recycling capital back into communities.

Affordable Housing

Supported by a loan from BACIF, MEDA (Mission Economic Development Agency) acquired 300 Ocean Ave. in Mission Terrace and will preserve the building as affordable housing in partnership with the City of San Francisco’s innovative Small Sites program. This program keeps in place longtime residents vulnerable to no-fault Ellis Act evictions. 300 Ocean Ave. residents include African American and Latinx households, including families with children and tenants with physical impairments. To ensure these tenants have quality affordable housing, MEDA will address interior and exterior deferred maintenance (e.g., painting and flooring of kitchen and bathroom refurbishment).

Power of Collaboration

Together with our partners, the San Francisco Foundation is tackling challenges to housing, employment, access to transit, and civic participation in the Bay Area. These collaborative efforts allow funders, donors, government agencies, and nonprofits to pool our resources and expertise to create large-scale, long-term solutions. We help lead these collaboratives through convenings, research, community engagement, and administration.

“What has always made the Bay Area so special is its entrepreneurial spirit and its orientation towards progress and justice. . . . We are thrilled to be joining [The Partnership for the Bay’s Future], this diverse coalition of community and faith leaders, advocates, philanthropies, and businesses to support creative and impactful solutions to the housing crisis.”

Priscilla Chan, Co-Founder of the Chan Zuckerberg Initiative

Great Communities Collaborative

Great Communities Collaborative envisions a Bay Area that is comprised of neighborhoods which are healthy, thriving, and affordable to all with a premier transit networks that links communities to opportunities. Collaborative partners include regional policy leaders, community groups, businesses, local and regional government agencies, and funders.


HOPE SF is centered on an integrated, innovative approach to addressing multigenerational poverty in the most distressed public housing in San Francisco. This public-private partnership is led by our foundation, Enterprise Community Partners, and the City and County of San Francisco.

Partnership for the Bay’s Future

Partnership for the Bay’s Future is a collaborative focused on advancing housing solutions by working to produce, preserve, and protect affordable homes in the Bay Area, and to ensure our region remains a diverse place where all people are welcome and can thrive. Founding partners include the Chan Zuckerberg Initiative, the San Francisco Foundation, the Ford Foundation, and Facebook.

ReWork the Bay

ReWork the Bay is focused on increasing the number of Bay Area residents who have quality, empowered employment which allows people to live and work in place and have the resources to avoid sacrificing one basic need over another. It is a funder-field collaborative that brings together leaders across sectors to build authentic relationships and work towards collective solutions.

“ReWork the Bay was the space I needed, for myself, and with my team, to connect deep community-centered experiences with the movement that’s building in philanthropy. A movement centered on power sharing, collective vision, and thriving communities. Building together is how we get to the deeper impact we envision.”

Camille Llanes-Fontanilla, The Sobrato Foundation

Supporting Our Donors

The San Francisco Foundation supports our donors’ philanthropic vision through a number of funds and investment opportunities. We help our donors make informed, impactful giving decisions.

If you are interested in beginning or updating your philanthropic priorities, you can obtain expert guidance from our Philanthropic Advisors who assist fund holders, including individual donors, families, and representatives of businesses or private foundations. We also offer fee-for-service consulting for philanthropy outside of SFF. As a community foundation we help donors through:

  • Personalized strategies, giving plans, and recommendations aligned with donor interests
  • Interactive sessions to help surface common values, priorities, and charitable goals
  • Information on topics such as best practices in philanthropy, the Bay Area’s most pressing needs, and how to give using the concept of equity as a framework
Your Goal Our Options The Benefits
Support the charitable organizations of your choice in a way that’s easy, streamlined, and tax-wise Set up a Donor Advised Fund
  • Online portal for convenient grantmaking and tracking of fund balance
  • We invest your dollars to help your fund grow and maximize your grantmaking
  • Socially-responsible investment options
  • Ability to involve family members in giving and learning
  • Less administration and expense than operating a private family foundation or corporate foundation; privacy as needed
Address the Bay Area’s most critical community needs now and for generations to come Create or support a permanent endowment fund
Establish a Future Fund
  • A source of ongoing annual income for the charitable causes you care about, presently and after your lifetime to help them navigate uncertain economic times and to ensure sustainability
  • Flexible giving strategy and timeline that works in tandem with your estate planning process
  • Recognition of your future gift through our Bay Area Promise Society (optional)
Support SFF’s leadership to create a racially just and economically inclusive Bay Area Give to SFF’s Bay Area Leads Fund
  • Easy and strategic way to advance racial equity and economic inclusion in the Bay Area and beyond
  • Fuel for your community foundation’s leadership to convene community conversations, disseminate local research, elevate resident voices and power, and advocate for public policy and systems changes that lead to significant results
Support SFF’s efforts to provide Bay Area equity focused organization with low-interest, long-term loans (program related investments) Invest in the Bay Area Community Impact Fund (BACIF)
  • Available to current SFF fund holders
  • Increase access to low-interest, long-term loans for Bay Area, equity-focused organizations and projects, particularly in communities of color and focused on affordable housing, economic opportunity, and entrepreneurship of women and people of color.
Align our organizational grantmaking to SFF’s Equity Agenda Engage with an SFF Funder Collaborative and Initiatives
Direct Grantmaking
  • By joining a funder collaborative, your organization can increase the impact of your grantmaking dollars, strengthen your multi-sector networks, engage in shared learning, and advance your equity goals.

Investment Performance

We invest our assets in alignment with our values and with the goal of generating strong long-term investment results. Our allocation process leads to long-term success under a variety of market conditions as evidenced by our top-decile 10-year annualized returns among endowments and foundations.

Good Stewards Making an Impact

While it was a challenging year for financial markets, each of our four investment pools have outperformed their long-term benchmarks while aligning with our values.

Investment Performance
1 Year 3 Years
5 Years
10 Years
Long-Term Donor Advised -10.5% 6.6% 6.5% 7.7%
60% MSCI All Country World / 40% Barclays Agg -13.4% 3.7% 4.8% 6.0%
Short-term Donor Advised -0.4% 0.8% 1.3% 1.0%
U.S. Treasury Bills -0.2% 0.6% 1.1% 0.6%
Endowment Pool Assets -11.1% 7.1% 6.9% 8.3%
60% MSCI All Country World / 40% Barclays Agg -13.4% 3.7% 4.8% 6.0%
Mission-aligned Investments -12.6% 6.2% N/A N/A
60% MSCI All Country World / 40% Barclays Agg -13.4% 3.7% N/A N/A

Pools Designed for Varying Grantmaking Objectives

Pool Designed for Investment Objectives
Long-Term Pool Donor advised funds intending to make grants over time. Seeks long term growth via a diversified portfolio of global stocks, bonds and alternative assets.
Endowment Pool Permanent funds intended to maintain grantmaking power in perpetuity. The target inflation-adjusted return is consistent with our annual distribution rate of approximately 5 percent​​.
Mission-Aligned Investments Pool Donor advised funds intending to make grants over time. Funds are invested with a values-based approach that aligns with the foundation’s commitment to racial equity and economic inclusion. Seeks long term growth via a diversified portfolio of global stocks, bonds and alternative assets.
Short-Term Pool The portion of donor advised funds intended for near-term grantmaking.​​ Seeks to maintain the real value of contributions by matching or exceeding inflation while avoiding exposure to more volatile asset classes such as equities and alternative investments.

Inside SFF

Equity, inclusion, and diversity are core to our ability to make a difference across the region. We are grateful to the diverse team that helps make community-driven philanthropy possible.

Percent of Staff Who Identify as People of Color*

*Respondents were invited to select all races/ethnicities that applied. Percentages sum to greater than 100%. Multracial or Mult-ethnic includes individuals who selected Multiracial or Mult-ethnic and individuals who selected two more races/ethnicities.

Learn More About Us
Our Board
Our Staff
Our Diversity Data

Thank you, SFF Donors

We gratefully acknowledge the generous support of the following donors this year. Thank you for sharing our vision to make the Bay Area a better place for all.

Corporate and Foundation Donors

Airbnb Inc
Arrow Impact
Bank of America, Charitable Foundation
Chan Zuckerberg Initiative
City Of Oakland, Office of the Mayor
Friedman Family Foundation
Funder for a Just Economy
Genentech Foundation
JPMorgan Chase Foundation
Lisa & Douglas Goldman Fund
Omidyar Network
Silicon Valley Community Foundation
Sobrato Family Foundation
The Annie E. Casey Foundation
The California Endowment
The David & Lucile Packard Foundation
The Grove Foundation
The James Irvine Foundation
The Stupski Foundation
Walter & Elise Haas Fund
Wells Fargo Foundation
William + Flora Hewlett Foundation
Y & H Soda Foundation

Agency Fund Donors

Bethel Heritage Foundation of San Francisco
Buen Dia Family School
California Institute for Regenerative Medicine
Children’s Book Project
Code Tenderloin
Edith P. Merritt Memorial Lecture Fund
George Washington High School Alumni Association
Intercept Poverty Foundation
June Jordan School for Equity
Lyon-Martin Health Services
Metropolitan Community Church of San Francisco
Multidisciplinary Association for Psychedelic Studies
Oakland Promise
PACT (Plan of Action for Challenging Times)
Pt. Reyes Bird Observatory
Raphael House
San Francisco Achievers
San Francisco Boys Chorus
San Francisco Interfaith Council
West Contra Costa Public Education Fund
YWCA of San Francisco & Marin