How We Invest | New York Community Trust | New York, NY
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Our goal is to increase charitable assets while preserving capital.

We work with donors to select investment options that are appropriate for their grantmaking objectives. Our financial staff is guided by dedicated, seasoned investment professionals who volunteer countless hours as members of our Investment Committee.  

Community Funds, Inc. and The New York Community Trust

We consist of two entities: Community Funds, Inc., a New York State not-for-profit corporation, and The New York Community Trust, an unincorporated association of charitable trusts. The two share a board and staff and operate as one. However, their investment vehicles are different.

Community Funds, Inc.

Donors who establish funds in the corporation have a choice of four investment vehicles (listed in order of increasing equity exposure)

1. Vanguard Federal Money Market Fund

For donors who anticipate substantial payouts in the near term. The money market fund may also be combined with other vehicles to create liquidity.

VEHICLE DETAILS

2. Income Pool

For donors who seek a mix of bonds and equities that generates current income. The underlying investment is the Vanguard LifeStrategy Conservative Growth Fund, a fund of fixed income and equity funds.

VEHICLE DETAILS

3. Community Funds Investment Pool

For donors with a longer-term orientation. The pool aims to produce a return of approximately 4.5% annually after inflation and fees over the longer term—consistent with a reasonable degree of risk. While the pool is diversified across asset classes, it is oriented to equities. Policy target allocations appear in the chart below.

Transfers in and out of the pool can be made only on the first business day of each month. To create greater liquidity, donors often combine an investment in the pool with an allocation to the money market fund. The money market balance is automatically replenished each month to a target that the donors select.

VEHICLE DETAILS

4. Vanguard FTSE Social Index Fund

For donors who seek socially screened investments. The fund tracks the FTSE4Good U.S. Select Index, a benchmark of large- and mid-capitalization stocks that are screened for social criteria such as workplace issues, environmental issues, product safety, human rights, and corporate responsibility. The index tends to have a growth orientation.

VEHICLE DETAILS

THE NEW YORK COMMUNITY TRUST

Donors may establish funds at any one of the 11 trustee banks that have adopted The Resolution and Declaration of Trust creating The New York Community Trust. Although the trustee bank selected by the donor manages the fund, investment performance and asset allocation are monitored by our staff and reviewed by the Investment Committee. Most of our trustee banks require at least $500,000 in order to establish a charitable trust, and many have minimums of $1 million or more.

See a list of trustee banks.


Investment Committee Members
Kevin R. Byrne, Chairman
CEO of Pacific Global Asset Management
Pacific Life Insurance Company
Bruce W. Calvert
Retired Chairman & Chief Executive Officer
Alliance Capital Management (now AllianceBernstein)
Elizabeth B. Dater
Managing Director
Angelo, Gordon & Co.
David Holstein
Retired Portfolio Manager
Capital Group
Raymond Kanner
Retired Managing Director & Chief Investment Officer
IBM Retirement Funds
Rosemarie Liu Shomstein
Retired Senior Vice President & Deputy Chief Investment Officer
AXA Equitable Life Insurance Company
Lorie A. Slutsky
President
The New York Community Trust
Donald R. Kurtz (Emeritus)
Retired Managing Director
General Motors Investment Management Corp.

Affiliation for identification purposes only.

Want More Information?

Contact Mary Greenebaum, CIO, or Ken Beitler, Director of Investments.