Coastal Community Foundation (CCF) announced Chris Ballad is the organization’s new Vice President and Chief Financial Officer (CFO). Ballad has served as the Foundation’s Controller since 2021.
Chris Ballad has experience in leadership roles, serving as CFO for multiple hotel and real estate companies throughout his career. He spent seven years in public accounting and more than three decades in the hotel industry. Ballad had a significant role in the acquisition of Inter-Continental Hotels Group (IHG) and its integration into the hotel division of British company Bass PLC. During his time as CFO of a New York City-based hotel company, Ballad guided the company through the post-9/11 environment, including helping the company recover from $1 billion in defaulted debt. While working for a privately-owned hotel company in Cincinnati, Ballad successfully refinanced more than a billion dollars of debt and completed hotel acquisitions worth several hundred million dollars. He has a degree in history and economics from Cambridge University.
“My goals are first and foremost to ensure a smooth transition and maintain the expert team that we have in the finance department here,” Ballad said. “We will continue to ensure sound financial controls, accounting, reporting, and strong investment returns. I look forward to building out our Placed-Based Impact Investing fund, which has $7 million in assets and is planning to close on several loans later this year. Through this fund and upcoming opportunities to provide more affordable housing in the region, the Foundation will continue to increase its impact on the local community.”
Ballad is stepping into the role of CFO following the retirement of Jane Litz. Litz was a powerful force as the Foundation’s Senior Vice President and Chief Financial Officer for six years, driving the financial success of CCF and the hundreds of charitable funds it manages. When Litz came on board in 2019, the Foundation had $285 million in assets. At the close of 2024, CCF reached a total of $511 million in assets under management. Litz had a significant role in the strategic investments and fund establishments that led to substantial growth during that time.
“Jane Litz was a trusted advisor of our leadership team and board of directors, known for being candid and direct about financial decisions and compassionate about the heart of our work and the communities we serve. She will be missed,” said Darrin Goss, Sr. President and CEO of Coastal Community Foundation. “Since Chris Ballad arrived at CCF, he has learned the intricacies of community foundations and is well-versed in our mission and financial practices. Paired with his past success as CFO in the private sector, I am confident he will ensure a smooth transition and continue the Foundation’s forward momentum.”
Ballad will also serve as CFO for CCF’s three supporting organizations: the Frances P. Bunnelle Foundation, Jewish Endowment Foundation of South Carolina, and Saul Alexander Foundation.