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Pasadena Community Foundation
Pasadena Community Foundation was established in 1953 as a civic endowment for the greater Pasadena area, connecting local donors with nonprofits inside the...
Pasadena Community Foundation
Pasadena Community Foundation was established in 1953 as a civic endowment for the greater Pasadena area, connecting local donors with nonprofits inside the Pasadena Unified School District boundary. Under former CEO Jennifer Fleming DeVoll and now Khanh Russo, the foundation has grown into the region's primary philanthropic aggregator, holding donor-advised funds, field-of-interest funds, and unrestricted assets. The foundation's granting footprint encompasses Pasadena, Altadena, and Sierra Madre exclusively. PCF's grantmaking spans six impact areas: Arts & Culture, Community & Economic Development, Environment & Animal Welfare, Health & Safety, Human Services, and Youth & Education. In practice, this means supporting organizations ranging from museums and performing-arts programs to food-security initiatives and job-training nonprofits. The foundation accepts complex assets including real estate, retirement funds, and publicly traded securities. A notable holding originated from the Munger Charitable Trust Number Three, which contributed Berkshire Hathaway Class A shares. The Eaton Fire Relief & Recovery Fund, housed at PCF, illustrates how the foundation activates donor capital for immediate local crisis response. PCF's scale is measured in cumulative deployment rather than assets under management: $224 million in total grants, of which $70 million went to Pasadena-based organizations and $10.75 million to Altadena. The foundation staffs a lean team from its Colorado Avenue office, with board members and advisors active in the San Gabriel Valley Estate Planning Council and accredited under National Standards for Community Foundations. In 2025, PCF awarded nearly $600,000 in capital grants and launched the Altadena Builds Back Foundation, with former CEO DeVoll as its executive director, in partnership with San Gabriel Valley Habitat for Humanity to rebuild housing lost to the Eaton Fire. PCF's architecture is distinct because it operates as a true community foundation — not a family office, not a private foundation — with no single wealth origin and no minimum payout requirement beyond UPMIFA guidelines. This lets the foundation steward donor intent across generations while remaining exclusively place-bound. Its board-governed investment portfolio and long-dated donor relationships make it a permanent capital partner for local nonprofits, a model that peers in the League of California Community Foundations attempt to replicate.
General information
Firm type
Endowment / Foundation
Year founded
1953
Location
Region
North America
Country
United States
City
Pasadena
Corporate office
301 E. Colorado Avenue, Suite 810, Pasadena, CA, 91101, United States
Principals
Khanh Russo
President & CEO
Altss tracks 1 additional named team member for this firm — including direct investment leads, IR, and operating principals not listed on the public website.
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Frequently asked questions
Who runs investment and grantmaking decisions at Pasadena Community Foundation?
President & CEO Khanh Russo oversees PCF's overall strategy, while the board of directors — chaired by Sonia Singla — governs the foundation's endowment and spending policy. Day-to-day grantmaking adheres to a six-impact-area framework, with discretionary grants restricted to nonprofits operating inside the Pasadena Unified School District footprint. Donor-advised fund holders direct their own grant recommendations.
Does PCF disclose its assets under management or investment portfolio composition?
Pasadena Community Foundation does not publicly report a total AUM figure. Its most prominent known holding is the long-term investment portfolio, which includes a donation of Berkshire Hathaway Class A shares from the Munger Charitable Trust Number Three. The foundation also holds cash equivalents and accepts illiquid assets such as real estate and privately held securities.
What is the connection between PCF and the Munger family?
The Munger Charitable Trust Number Three made a significant gift of Berkshire Hathaway Class A shares to Pasadena Community Foundation. The trust is associated with the late Charles Munger, who lived in the Pasadena area. The donation underpins part of PCF's long-term portfolio, though the foundation does not break out the trust's share of total assets.
How does PCF's Altadena Builds Back Foundation relate to the main foundation?
The Altadena Builds Back Foundation was launched as a PCF initiative to fund housing reconstruction after the Eaton Fire. Former PCF President & CEO Jennifer Fleming DeVoll now serves as ABBF's executive director, and PCF partners with San Gabriel Valley Habitat for Humanity on the rebuild. ABBF operates as a distinct vehicle but is housed within PCF's charitable infrastructure.
Is PCF a single-family office or a community foundation, and what's the structural difference?
PCF is a public charity structured as a community foundation — one of over 800 in the U.S. and a member of the League of California Community Foundations. Unlike a private family foundation, its assets come from many donors rather than a single family, and it is not subject to the 5% annual payout rule. Its grants are geographically restricted to the Pasadena Unified School District area.
What geographic area does PCF's grantmaking cover?
All PCF discretionary grants are limited to organizations, programs, or projects within the Pasadena Unified School District boundary, which includes the cities of Pasadena, Altadena, and Sierra Madre. Donor-advised fund holders may recommend grants to qualifying nonprofits anywhere in the United States.
What asset types does PCF accept for charitable contributions?
PCF accepts liquid holdings like cash and publicly traded securities, as well as illiquid assets including real estate, IRA and retirement accounts, life insurance products, and high-value personal property. The foundation also processes bequests and deferred estate gifts, enabling donors to create funds structured around their giving timelines.
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