Setting Up a Fund
You can begin to set up a Fund at The Trust now by following the instructions below, or contact Jane Wilton, general counsel, to request more information: The Trust's tax classification letter, descriptive material on the different types of funds, and suggested language to help you draft instruments to provide for gifts to our organization.
To make a gift today
- Talk to Jane Wilton at 212.686.2563 to discuss what kind of fund makes the most sense: Unrestricted, Donor-Advised, Field-of-Interest, or Designated.
- Ask us for a fund agreement form and fill in the following:
- The fund name (please don't use initials only).
- Identify the assets your client is giving (e.g., $150,000 or 600 shares of XYZ Corp. stock).
- If it is a donor-advised fund, please fill in the names of the advisors who may recommend grants.
- For funds with a purpose more specific than unrestricted charitable purposes, please discuss that purpose with Jane Wilton, and once the purpose is mutually agreed upon, fill in the fund purpose.
- Sign and date two original fund agreements and mail them, with your client's contribution, to us at: 909 Third Avenue, New York, NY 10022. (If your client will be contributing stock, ask to have stock transfer instructions sent to you).
As soon as we accept the fund agreement, we will return a fully executed counterpart to you and your client for your records.
To make a deferred gift or bequest
- Contact Jane Wilton at 212.686.2563 for language for your client's will for the kind of fund your client is interested in.
- Insert any missing information, such as fund name and the fund purpose. For funds with a purpose more specific than unrestricted charitable purposes, please discuss that purpose with Jane Wilton before executing your client's will.
Three important facts:
- If a fund is established for a particular purpose, please contact us to review the language before the instrument is executed to ensure that we can meet the donor's purpose.
- A co-trustee is not permitted under the "Resolution and Declaration of Trust Creating The New York Community Trust."
- All our funds enjoy an important advantage: If a change of circumstances makes literal compliance with the terms of the gift instrument "unnecessary, undesirable, impractical, or impossible," our governing body is able to vary them. Donors are assured that their gifts will never become obsolete; they will remain useful to the community in perpetuity.
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