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FORM 990

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PRESIDENT/CEO OF THE COMMUNITY FOUNDATION RESIGNS

Press Release
For Immediate Release : August 20, 2012

Contact: Sharilyn Hunke, Communications Officer
This email address is being protected from spambots. You need JavaScript enabled to view it. | 951-241-7777

Word Count: 453

Riverside, CA—August 20, 2012---The Community Foundation Serving the Counties of Riverside and San Bernardino announced today that Daniel Foster has resigned as President/CEO, and the Board has named Celia Cudiamat, previously VP of Grant Programs, Donor Services & Administration, as the foundation's Interim President/CEO.

"Daniel has been an exceptional CEO and leader of The Community Foundation. During his tenure he has forged important initiatives and relationships with many nonprofits, business leaders and public officials  working towards our collective goals of improving the quality of life issues throughout our two county region," said Grover Trask, Chair of the Board of Directors.

"Daniel has made countless contributions to The Community Foundation's success and visibility, and has nearly doubled our professional and talented staff. During his four year tenure, we had record breaking fundraising and asset growth during difficult economic times. We are truly sad to see him go but know he is doing the right thing."

Foster will be leaving The Community Foundation on September 18 and will be starting as Executive Director of Oceanside Museum of Art on October 1.

"My last four years with TCF have been some of the best years of my professional life, and I will certainly miss working with the talented and dedicated staff, Board, supporters, friends and partners associated with the Foundation," says Foster. "I am very proud of the tremendous growth, accomplishments, and prominence that the foundation has achieved during the years of the Great Recession."

Foster states, "Even though my life and career are changing directions, my commitment to the arts community and so many good people in the Inland Empire will passionately continue."

Foster submitted his resignation to the Board of Directors last week and the Board selected eight year TCF executive staff member, Celia Cudiamat, as Interim President/CEO, while they conduct their nationwide search for a new President/CEO.

"I am deeply honored to be chosen to lead the foundation during this time of transition and change," said Cudiamat. "While Daniel will be missed, we want to wish him all the best as he enters a new stage in his life and career.

"His vision helped bring the foundation to the threshold of a new era," Cudiamat continues. "I am confident in our staff and board as we steadily move forward at this juncture of growth and opportunity."

The Community Foundation is a nonprofit, public benefit corporation created by and for the residents of Riverside and San Bernardino Counties. Established in 1941, The Community Foundation has $58 million in assets and provides college scholarships and grants to nonprofit organizations across the two-county area. It serves as a regional convener to address issues regarding their Community Initiatives, which include Arts & Culture, Capacity Building, Environmental, Youth Philanthropy, and Education.

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