# The San Francisco Foundation

The San Francisco Foundation is a Community Foundation based in San Francisco, United States.

## Overview

- **Organization type:** Community Foundation
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** One Embarcadero Center, Suite 1400, San Francisco, CA 94111
- **Founded:** 1948
- **Assets under management:** $1.9B (Altss estimate)
- **Website:** sff.org
- **LinkedIn:** https://www.linkedin.com/company/san-francisco-foundation

## Regulatory record

- **Reports private funds:** No

## About

Founded in 1948, The San Francisco Foundation operates as the primary community foundation for the Bay Area, channeling donor-advised funds, bequests, and a permanent endowment into local impact. CEO Fred Blackwell has run the operation since 2014, working alongside a board chaired by Andy Ballard, founder of Figtree Partners, and an investment committee chaired by impact investor Justina Lai. Unlike a single-family office, its asset base is diffuse, aggregating capital from thousands of Bay Area donors into one central philanthropic vehicle. SFF allocates across venture capital, real estate, private credit, and special situations, using a mix of direct co-investments, fund commitments, and debt instruments. The foundation runs the Bay Area Community Impact Fund (BACIF), a place-based private debt and equity vehicle targeting Bay Area projects, and has held direct real estate positions including One Embarcadero Center and the Freedom West 2.0 mixed-use redevelopment. Confirmed co-investor relationships include the Ford Foundation and the Chan Zuckerberg Initiative through the Partnership for the Bay's Future housing portfolio. It also accepts and liquidates cryptocurrency donations, with known positions in Bitcoin and Ripple. The foundation operates from its headquarters at One Embarcadero Center in San Francisco with a lean professional team led by CFO Sonja Velez and Senior Director of Investments Mark Doherty. SFF belongs to the Council on Foundations, Northern California Grantmakers, and Mission Investors Exchange. Its philanthropic side includes separate initiatives like the California Black Freedom Fund, which operates with its own governance and fundraising track. The balance between grantmaking and investment operates under a standard community foundation model — the endowment pursues market-rate returns while the grantmaking side deploys alongside a mission-aligned impact thesis. Justina Lai's role as both Investment Committee Chair and a donor family principal at Laird Norton Wetherby reinforces the bridge between institutional discipline and family-office sensibility that defines its investment posture.

## Sectors

- Real Estate
- Private Credit
- Venture Capital
- Secondaries & Special Situations
- Infrastructure

## People

- Fred Blackwell — Chief Executive Officer
- Andy Ballard — Chair of the Board of Trustees
- Justina Lai — Chair of the Investment Committee
- David ibnAle — Vice Chair of the Board of Trustees
- Sonja Velez — Chief Financial Officer
- Mark Doherty — Senior Director of Investments
- Molly Q. Ford — Trustee

## Questions

### Who runs investment decisions at The San Francisco Foundation?

An Investment Committee chaired by Justina Lai, Chief Impact Officer at Laird Norton Wetherby, sets allocation policy. Day-to-day investment operations are led by Senior Director of Investments Mark Doherty, under CEO Fred Blackwell's oversight. The board includes David ibnAle of Advance Venture Partners and Salesforce's Molly Q. Ford, reflecting a blend of institutional and entrepreneurial backgrounds.

### Does The San Francisco Foundation make direct investments or only commit to funds?

SFF makes both direct investments and fund commitments. It directly holds real estate assets like One Embarcadero Center and runs the Bay Area Community Impact Fund, which provides private debt and equity to local projects. It also co-invests alongside institutional partners and allocates to venture capital and buyout funds.

### What is the Bay Area Community Impact Fund (BACIF)?

BACIF is SFF's place-based investment vehicle that deploys private debt and equity into affordable housing, small businesses, and community facilities across the Bay Area. It operates alongside the foundation's market-rate endowment, allowing donors to direct capital into mission-aligned investments that generate both social and financial returns.

### How does SFF's partnership with the Chan Zuckerberg Initiative work?

SFF and the Chan Zuckerberg Initiative co-lead the Partnership for the Bay's Future, a collaborative that also includes the Ford Foundation. The partnership develops and preserves affordable housing across the region, with SFF serving as the administrative and fiscal backbone, while CZI and other partners provide co-investment capital and policy support.

### Does The San Francisco Foundation accept cryptocurrency donations?

Yes, SFF runs a cryptocurrency donation program and has held positions in Bitcoin and Ripple as part of its donation portfolio. The foundation liquidates received cryptocurrency and allocates the proceeds to its grantmaking and endowment, offering donors a tax-efficient way to contribute digital assets.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/the-san-francisco-foundation-sff

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