What is commonly known as The New York Community Trust actually is two entities: The first, The New York Community Trust, is organized as an unincorporated association of charitable trusts. Each component trust is held in trust by one of our approved bank trustees. The second, Community Funds, Inc., is a New York not-for-profit corporation. A fund established in Community Funds does not have a trustee. The two entities are both public charities and file a combined report with the IRS.
Donors who wish to have one of our trustee banks manage the fund’s assets may choose the trust form, subject to meeting the bank’s minimums. More commonly today, donors choose Community Funds, where investment managers are selected by our esteemed Investment Committee. Either way, our board and staff are the same.