PFS Staff Spotlight: Frank Buenrostro

10 Questions for Frank Buenrostro, Director of Accounting Services at Pacific Foundation Services

1. You’re the Director of Accounting Services at Pacific Foundation Services. What inspired you to get into philanthropy? 

One of the things that has driven my career has been an interest in working directly with people as much as I can. In my role in finance and accounting, I take great pride and enjoyment from demystifying numbers for folks. Previously, I was a tax auditor with the state and have held finance manager positions at community-based organizations so entering the world of philanthropy just sort of seemed like a natural progression for my career. Having worked with community-based organizations, I definitely wanted to know how financial decisions impacted the organizations I was working with. I wanted to know how grants were approved and how eventually organizations and communities received funding. To me, this role at PFS seemed like an important piece of my personal understanding as well as a way to look at the bigger picture of where and how I can impact decisions that are being made. In my role, I’m able to have an impact on the world around me by, again, demystifying and guiding how a foundation’s endowment can be better employed into our community.

2. Is there a topic or trend in philanthropy that is top of mind for you?

Yes, as a matter of fact, just yesterday my colleagues and I were continuing to discuss the 5 percent payout requirement foundations have to meet. We continue to explore ideas on how PFS can impact the way foundations give and how strategic giving can have a greater impact, both across the country and internationally. We consistently think about the role this 5 percent requirement serves at the foundations – is it the floor or is it the ceiling? Given the return on investments many foundations have seen in past years, a 5 percent payout should be seen as the floor not the ceiling. I’m constantly thinking about how to help shift ideologies behind grantmaking strategies to get more dollars into the community where funds are needed now. We talk about how our communities are struggling so I am inspired to really help activate our clients in ways that can have a positive impact in our community.

3. How does equity show up in your work at PFS?

I see equity at PFS in the way we acknowledge each other’s strengths and showcase the work that we each do. For example, instead of only team leads presenting at a board meeting, we each present on our different areas of expertise. This allows us to acknowledge that we all come with varied backgrounds and a wealth of knowledge necessary when meeting with boards, having internal team meetings, and participating in our larger organizational meetings. Having worked at other places where there are only one or two voices that are elevated, coming to PFS, where we hold a culture that acknowledges everyone’s voice, is super motivating – we can all share our thoughts in meaningful conversations. 

4. In the Bay Area, the region is changing rapidly in both positive and challenging ways. As you consider the changes, what is your greatest hope for the Bay Area?

Universal housing. My biggest hope would be to capitalize on a lot of the things that already make the Bay Area a great place to live. The Bay Area is a cultural hub but there are certain things that are standing in the way of future growth, such as outdated zoning laws. As the gap continues to grow between the haves and the have-nots, many of the challenging issues in the Bay Area will only become exponentially exaggerated. My hope is that we shift our perspective about housing where we start seeing housing as a human right that should be accessible to everyone. I think only then can we start addressing some of the more challenging issues.

5. How has your work changed your outlook?

I’ve been working with one of our client foundations and they approach their philanthropy in what I consider pretty innovative ways. While they’re not approaching philanthropy from a lobbying perspective and influencing policy, because it’s not allowed for private foundations, they do approach it from this other angle where they’re able to get dollars into communities that otherwise struggle with funding. During COVID, they were able to activate dollars in countries that weren’t able to easily access medical care. Since it was difficult to contribute in these smaller countries, the foundation had to get creative – they ultimately funded an international charity to provide medical services from a boat anchored off the coast. Incredible! 

When I first entered my role in philanthropy, I was a little bit afraid that I would become jaded towards a system that doesn’t necessarily work for everyone. But working at PFS and with the client foundations I’ve worked with, hearing creative ways dollars have been activated has been really energizing for me. 

Another creative funding opportunity I helped with was when a foundation cosigned a loan with a nonprofit organization. Not only did this allow the nonprofit access to a much more favorable interest rate, but because the foundation has a large endowment, if the nonprofit were to default the foundation would be capable of covering the expense of the loan. Just being able to work with a team that has been doing really incredible and creative work to activate funds has been really energizing – I’m definitely not as jaded as I thought I would become.

6. Our world has benefitted from the leadership of so many change-makers, past and present. Who do you especially admire?

Someone who I especially admire for her leadership and tireless fight for social justice and the betterment of farmworkers’ working conditions is Dolores Huerta. Her continued work impacting public policy and grassroots organizing has had a lasting effect in the Latino community. Now in her 90’s, Dolores Huerta continues her work organizing communities and advocating for education equity, health and safety, and LGBTQIA+ equality.

7. Which PFS organizational value would you say shows up in your day to day work the most? (generosity, respect, integrity, inclusion, commitment, humility).

Integrity. At PFS, we not only have integrity for the work that we do but we have integrity and respect for each other. We are an incredibly caring group of folks internally, which then shows up in interesting conversations on how to be supportive of each other and with each of our clients. We all take great pride in the way that we work and the work that we all produce. 

We are quick to acknowledge whenever we make an error and I’d say there’s a high level of self-accountability that is present organizationally. We balance our acknowledgments of great work to each other with constructive feedback because we’re a team – and all parts of our work make up the bigger picture of how we can show up for each other and our clients in a meaningful way.

8. What’s something unexpected that you like to do outside of work?

I really love going to antique shops and finding depression glass, which is also called uranium glass. One of the cool things about this type of glass is that under a black light, it glows iridescent green. It is slightly radioactive, but the FDA has said that for the most part it’s safe. 

My pride and joy is a set of tea cups with matching saucers that I found at an antique shop. They’re all made of this beautiful green glass and the moment you shine a blacklight on them they glow an almost eerie iridescent green. Because of their radioactive properties, the pieces I’ve collected are not used everyday, they actually remain in a closed glass cabinet for safety.

9. As you look to the future, what issue in our society feels especially urgent?

I feel like so many issues are urgent, however living in California climate change seems especially urgent with the recent wildfires happening and apparently being susceptible to hurricanes?! Also, if we look at how we access water and use natural resources from agricultural practices to waste management, are we doing the best we can? It seems like we are reaching this point of no return, where the damage that we’ve done to our environment may be irreversible. I’m hoping it’s not, but that especially feels urgent.

10. And lastly, what are you reading or listening to?

I have been listening to this podcast called “Scared to Death.” It’s this husband and wife that share horror stories that are sometimes pretty terrifying. Plus, the two have some great banter and it makes for entertaining content to listen to while you’re driving.