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Frequently Asked Questions about The Trust

If you can't find the information you're looking for below, we are happy to answer your questions. Call (212) 686–0010 #0 and our receptionist will guide you to the right person.

FAQs about The Trust

What is The New York Community Trust?

We are one of the country's largest community foundations. We have been helping charitable individuals, families, and businesses with their philanthropy since 1924. We make philanthropy convenient, professional, and lasting. 

The Trust and Community Funds operate together as The New York Community Trust, with a single governing body.

Community Funds is our not-for-profit corporation. Its assets are invested by outside portfolio managers and overseen by our respected Investment Committee. The New York Community Trust is composed of separate charitable trusts, each of which has a bank trustee.

Learn more about our history »

Meet our staff>>

Meet our board>>

Meet our trustee banks>>

What is a community foundation?

Community foundations are different from private foundations. They have a broad mandate to serve their communities, and can’t limit their focus to a few areas. They also must have a geographic focus. Community foundations are made up of many individual charitable funds, some that are for unrestricted purposes, and others that are for particular fields of interest, some broad, others narrow. Some funds are set up by will or through deferred giving arrangements, some by living donors who recommend grants.

How are grants made at The Trust?

Grants at the trust are made in one of two ways: they are suggested by our donor-advisors or made from our discretionary grants program in response to proposals from nonprofits. The later are made possible through the generosity of past donors who established permanent charitable funds with us during their lifetimes or through their wills. Visit our Grants at Work section to learn more about these discretionary grants.

Many people who set up donor-advised funds have left principal in the fund. When it is no longer advised, the money is put into our discretionary grants program and used to make grants in the donors' names forever. Others add to their funds by will. And still other create new funds in their wills. Learn more about creating a charitable legacy.

What's the difference between The Trust and Community Funds, Inc.?

The Trust and Community Funds operate together as The New York Community Trust, with a single governing body.

Community Funds is our not-for-profit corporation. Its assets are invested by outside portfolio managers and overseen by our respected Investment Committee.

The New York Community Trust is composed of separate charitable trusts, each of which has a bank trustee. The trustee must be one of our several trustee banks; no co-trustees are permitted. The Resolution and Declaration of Trust creating "The New York Community Trust" (the R&D) is a complete trust instrument that sets out in detail the powers and duties of the trustee bank and our board. In order to establish a fund in The Trust, the trust document simply incorporates the R&D by reference.

View our IRS Determination Letters (2005) (PDF, 38KB)>>

View our IRS Determination Letters (2006) (PDF, 39KB)>>

Does The Trust have conflict of interest and whistle blower policies?

Yes, we have both.

You can download our Conflict of Interest Policy here,

and our Whistle Blower Policy here.

909 Third Avenue | New York, NY 10022 | P (212) 686-0010 | F (212) 532-8528 | info@nyct-cfi.org
Contact Us | Staff | Westchester Community Foundation | Long Island Community Foundation

The New York Community Trust is a 501(c)3 public charity.

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