Why Work with The Trust?
Whether your clients are planning for
their estates, selling a business or stock options, managing an
inheritance, or want to streamline their giving today, you can help them
achieve their charitable and financial goals by working with The New
York Community Trust.
You control the client relationship. We’re here to help extend the range of services you offer to your clients.
|Please contact our general counsel, Jane Wilton, with any questions at firstname.lastname@example.org or (212) 686 - 2563.
- We are effective grantmakers. Our
staff are expert in a variety of issues and understand the
challenges and opportunities in the region. They know the nonprofits
that are most effective in their fields, and monitor emerging trends.
- We build philanthropic legacies. Donors who set up endowed funds can be secure that we will honor their charitable legacy in their names forever, and because of our variance power, they will always respond to the needs of tomorrow.
- We are flexible with respect to the types of assets we accept, the kinds of funds your clients can choose from, as well as a variety of investment vehicles.
- Your client will be in good company. Your client joins a community of generous New Yorkers and a respected organization with a long history of helping New Yorkers make sure that their charitable gifts make a difference.
- Your client will receive the maximum tax deduction allowed by law for charitable contributions, greater than if he or she were to establish a private foundation. Your client will receive an immediate tax deduction for
contributions to a fund, although grants from the fund may be made over
- We offer the economies of scale of a large
institution. We take care of the asset transfers, make grants, handle
all the record keeping and reporting, and provide your client with MyNYCT, an easy online grant management system,
quarterly statements, and acknowledgments of gifts and grants.
The Trust or a Commercial Donor-Advised Fund?
Donors today have a number of options for their philanthropy.
Commercial gift funds are a convenience for the
transactional donor, but because they are national and don’t have staff
who live in the donor’s community, they can’t offer donors information
about local needs. And because they are essentially online services,
there is little in the way of personal service. Community foundations
are nonprofit organizations, and because they are geographically based,
know about local needs and the organizations that can best fill them.
The Trust or a Private Foundation?
Private foundations are another popular option for today’s donor, and
for some, they are the right option. But there is an increasing
trend toward transferring
them to community foundations or commercial gift funds, suggesting that
they weren’t the correct vehicle in the first place. A financial
reporter for Investment News wrote recently that “a donor-advised
fund is one solution for a small foundation that faces declining
assets, a founder without the time to devote to it or even a family
member who has ascended to the helm who may not be excited about the
foundation's charitable mission."
A Private Foundations and a Fund in The Trust
Many families who set up charitable funds at The Trust also have
private family foundations. Often, the donor uses a fund here to support
causes and nonprofits that are outside the general focus of the private
foundation. Many set up funds with us to take advantage of our grant
staff, who are expert in a variety of urban issues and can vet
proposals, read financial statements, evaluate programs, study trends,
and recommend grants that address critically important needs. And almost all
want to join with other generous New Yorkers who care about the City. Read more
For more information about how we can work with you to help your
clients, please contact our general counsel, Jane L. Wilton, at (212)