TO: ADAM PIRRIE, CITY MANAGER
FROM: MELISSA VOLLARO, RECREATION AND HUMAN SERVICES DIRECTOR
DATE: JUNE 9, 2026
Reviewed by:
City Manager: AP
SUBJECT:
Title
CONSIDERATION OF THE TRANSFER AND RETURN OF CLAREMONT SENIOR FOUNDATION FUNDS IN PREPARATION FOR THE DISSOLUTION OF THE CLAREMONT SENIOR FOUNDATION, INC.
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SUMMARY
The Claremont Senior Foundation Inc. (CSF) has informed the City of its intent to dissolve as a non-profit organization and, as part of that process, wishes to transfer and return several funds currently held on behalf of the City’s senior programs. Specifically, CSF proposes returning the Friends Fund and the Facilities Fund to the City of Claremont and transferring the Stark Family Endowment Fund to the California Community Foundation (CCF), while maintaining the existing restrictions and intended purposes of the fund in perpetuity. The Resolution (Attachment A) outlines acceptance and authorization procedures related to the transfer of funds.
The Friends Fund consists of short-term monies originally transferred by the City to CSF in 2006 at the request of CSF, the Senior Finance Committee, and the Committee on Aging. Since that time, proceeds from annual Friends campaigns have been added to the fund and utilized for improvements to the Joslyn Senior Center and Blaisdell Community Center, emergency assistance for seniors, and other senior program-related purposes. As of March 31, 2026, the fund balance totaled $38,111.65.
The Facilities Fund originated in 2007 when the City transferred the remaining balance of the “Senior Endowment Fund” to CSF. These monies represented community-raised funds associated with the construction of the Joslyn Senior Center. Although historically referred to as an endowment, the fund is more appropriately characterized as a quasi-endowment because the principal may be used at the request of the City. The balance of the Facilities Fund as of March 31, 2026, totaled $463,208.24.
The Stark Family Endowment Fund, formerly known as the Claremont Senior Program Endowment, was originally established in 1997 within the Claremont Community Foundation pursuant to an agreement with the City. The fund was subsequently transferred to CSF in 2006 with City approval. The fund operates as a donor-advised endowment, with the Committee on Aging (CoA) serving in an advisory capacity regarding annual disbursements to support City senior programs. As of March 31, 2026, the fund balance totaled $365,536.72.
RECOMMENDATION
Recommended Action
Staff recommends the City Council adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CLAREMONT, CALIFORNIA, ACCEPTING FROM CLAREMONT SENIOR FOUNDATION, INC., THE RETURN OF THE CLAREMONT SENIOR FACILITIES AND PROGRAM FUND AND THE FRIENDS OF THE CLAREMONT SENIOR PROGRAM FUND AND AUTHORIZING THE TRANSFER OF THE BALANCE OF STARK FAMILY FUND FROM CLAREMONT SENIOR FOUNDATION, INC., TO THE CALIFORNIA COMMUNITY FOUNDATION.
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ALTERNATIVE TO RECOMMENDATION
In addition to the recommendation, there is the following alternative:
• Request additional information from staff.
FINANCIAL REVIEW
Adoption of the Resolution would result in the return of the Friends Fund and Facilities Fund to direct City oversight and the transfer of the Stark Family Endowment Fund to the California Community Foundation. These actions do not create an immediate impact on the City’s General Fund but will ensure the continued availability of these resources for senior programs, services, and facilities consistent with donor intent and historical use.
The current balance of each of these funds as of March 31, 2026, is:
• Stark Family Fund: $365,536.72
• Friends Fund: $ 38,111.65
• Facilities Fund: $463,208.24
The staff cost to prepare this report and administer this program is estimated at $2,054 and is included in the operating budget of the Recreation and Human Services Department.
ANALYSIS
The Claremont Senior Foundation, Inc. has historically partnered with the City of Claremont to support senior programs, services, and facilities through fundraising and stewardship of donated funds. Over time, several distinct funds were transferred to CSF for management and administration in support of the City’s senior services.
In 1997, the Claremont Senior Program Endowment was established within the Claremont Community Foundation pursuant to an agreement with the City. The purpose of the endowment was to provide ongoing financial support for City senior programs. In 2006, with the City’s approval, the fund was transferred to CSF. The fund was later renamed the Stark Family Endowment Fund.
Also in 2006, the City transferred the Friends of the Claremont Senior Programs short-term monies, commonly referred to as the Friends Fund, to CSF. The fund has since received annual campaign proceeds and has been used to support senior-related projects and emergency assistance initiatives in consultation with the Committee on Aging.
In 2007, the City transferred approximately $240,000 in remaining construction-related fundraising proceeds associated with the Joslyn Senior Center to CSF. This fund became known as the Facilities Fund and has been maintained as a quasi-endowment for future senior facility-related needs.
CSF has now indicated its intention to dissolve and seeks to appropriately transfer or return these funds in a manner consistent with their original purposes and donor intent. Staff has reviewed the history and intended purposes of each fund and finds the proposed actions to be consistent with prior City agreements and the original intent associated with the funds.
The proposed transfer of the Stark Family Fund to the California Community Foundation would maintain the fund as a permanently restricted endowment dedicated to supporting City senior programs. The Committee on Aging would continue serving in an advisory role regarding annual disbursements, thereby preserving the historical governance structure associated with the fund. Staff understands that the California Community Foundation would maintain the fund restrictions and investment oversight in perpetuity.
The return of the Friends Fund to the City would provide the City with direct oversight of monies intended for senior program enhancements, emergency assistance, and related improvements. Similarly, returning the Facilities Fund to the City would allow the City to directly manage and allocate funds originally raised by the community for senior facility purposes. Several potential improvement projects have been discussed and are supported by the CSF board, such as the addition of new outdoor exercise equipment at the Joslyn Senior Center as part of the Larkin Park Improvement Project. Any disbursements of these funds would need to come to the City Council for consideration and approval.
Both the Stark Family Fund and Facilities Fund are currently invested under the management of Gould Asset Management. Staff will work with CSF, legal counsel, and the applicable financial institutions to ensure an orderly transition of all assets and compliance with any applicable legal or fiduciary requirements.
The proposed actions will ensure continuity of the funds’ intended purposes while supporting the orderly dissolution of the Claremont Senior Foundation Inc.
RELATIONSHIP TO CITY PLANNING DOCUMENTS
Staff has evaluated the agenda item in relationship to the City’s strategic and visioning documents and finds that it applies to the following City Planning Documents: Council Priorities, Sustainable City Plan, Economic Sustainability Plan, General Plan, 2024-26 Budget, and the Youth and Family Master Plan.
CEQA REVIEW
This item is not subject to environmental review under the California Environmental Quality Act (CEQA).
PUBLIC NOTICE PROCESS
The agenda and staff report for this item have been posted on the City website and distributed to interested parties. If you desire a copy, please contact the City Clerk’s Office.
Submitted by:
Melissa Vollaro
Recreation and Human Services Director
Attachment:
Resolution Accepting Donation from CSF, Inc.