Below are reasons people decide to terminate private foundations and start funds at The New York Community Trust.
Running a private foundation takes time, is an administrative and compliance burden, and requires too much money in upkeep that could be going to grants. The Trust can manage all this for you.
Private foundations may not have the resources to vet charities, assess the needs of the community, and evaluate the success of grants—all essential parts of effective grantmaking. The Trust has some of the nation’s most respected grantmaking professionals, who can ensure your funds continue to have maximum impact.
You want to ensure your philanthropy lasts forever. It is difficult to find someone to succeed you who is both qualified and shares your vision for the foundation. The Trust has been around for almost 100 years—our longevity helps to secure your legacy. We offer a range of fund options for you to choose from, helping to ensure that your wishes are fulfilled indefinitely.
We can help new donors make grants with impact, or run a full-service grantmaking program for private foundations, corporations, or estates. Contact our Vice President for Philanthropic Initiatives Kerry McCarthy at (212) 686-2578 or kem@nyct-cfi.org if you would like more information about how you can use The Trust’s deep bench of experts and in-depth knowledge of regional nonprofits. We look forward to working with you.
Engaging your children and extended family in charitable giving is a powerful way to pass along values and deepen relationships. Various studies confirm that a majority of donors cite family involvement as a key factor in their decision to set up a charitable giving vehicle. Starting a permanent or donor-advised fund at The New York Community Trust is an efficient and effective way to carry out these goals. We are also pleased to offer guidance and suggestions on how to get started with family giving tradition.
Lita Elvers: “We thought we had done everything right in our giving. We started a private foundation. We had a special interest in helping the poor, giving them the tools to start small enterprises.”
Wally Elvers: “We loved being able to help, but hated processing checks, keeping tabs on investments, doing IRS paperwork, maintaining mountains of documents.”
Lita: “When an advisor suggested The New York Community Trust might simplify our giving, it sounded too good to be true.”
Wally: “It turned out even better than we’d expected. We closed our 12-year-old foundation and started a fund at The Trust.”
Lita: “The staff at The Trust, they’re the pros! They’re so good at what they do, why should we appoint someone else to handle our giving?”
Lita Elvers live in Greenwich Village and can often be found volunteering at the American Museum of Natural History. Wally passed away in 2019.
