Charitable foundations/trusts: L.A. County based; ranked by total assets in 2003.

EXECUTIVE SUMMARY

ECONOMIC growth and a rebound in the stock market helped local foundations realize asset value gains after consecutive year-over-year declines.

The 25 largest charitable foundations and trusts headquartered in Los Angles County hold $24.2 billion worth of assets. Of the 19 submitting information for fiscal 2003, there was a 12.7 percent increase in the market value of assets compared to the year earlier.

No. 2 California Endowment saw the largest gain, adding close to $700 million, or $3.5 billion, for the fiscal year ended Feb. 29, 2004. Officials at the health care-focused organization cited the improved stock market for the increase.

The Broad Foundations registered a $504 million increase in assets, adding roughly three-quarters to asset value, lot $1.2 billion in fiscal 2003. A gift of $409 million from founder Eli Broad accounted for most of the increase, with stock market gains fueling the remainder of the growth, according to foundation officials.

Two foundations reported decreased asset valuations: Health care-provider QueensCare had a 3.2 percent decrease, to $332.9 million in assets, while the Whittier Family Foundations posted a 3.5 percent decline, to $263 million.

--Nicole Taylor

THE TRENDS

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THE PACESETTER

J. PAUL GETTY TRUST 

AFTER two years in which its asset base declined, the J. Paul Getty Trust rebounded in 2003. The trust's $9.1 billion in assets was $476 million greater than in 2002, an increase of 5.5 percent for the fiscal year ended June 30, 2003.

Although fewer grants were awarded, the trust increased the $29.6 million in grants doled out in 2003, an increase of nearly 50 percent over the year earlier. In general, grants range from $1,000 to $500,000.

Founded in 1982, the tryst supports education, conservation and research in the visual arts. There are four main programs, including the J. Paul Getty Museum, the Getty Research Institute, the Getty Conservation Institute and the Getty Grant Program.

Grants in 2003 were awarded for post-doctoral fellowships in ancient luxury objects, photographs of the Old West, and conservation of historical churches and a Beverly Hills post office. The trust is working on the "L.A. Archives Project," a program launched in 2003 to identify and make accessible documents related to the history of avant-garde art in post-World War II Los Angeles. The Getty recently awarded $100,000 for the second phase of the project.

The trust also spends $500,000 annually to fund its summer internship program lot college students at local museums and visual arts organizations. The program is in its 12th year, with 80 organizations in the county participating this summer.

--Nicole Taylor