Creating a Fund in The New York Community Trust

The Resolution and Declaration of Trust Creating "The New York Community Trust"  (the "R&D") is a complete trust instrument. It sets out in detail the powers and duties of the Trustee Bank and the Distribution Committee. In order to establish a fund in The New York Community Trust, the founding document—whether for a bequest or a gift during lifetime—must incorporate the R & D by reference.

An advantage of The New York Community Trust is that it is not a private foundation subject to certain requirements, and the separate funds that constitute The New York Community Trust are component funds of a public charity, not private foundations. It is important, therefore, that an instrument designed to create a new component fund in The New York Community Trust adhere strictly to the provisions of the R&D; please call us for a copy.