Why People Love Community Foundations | The New York Community Trust
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February 15, 2021   |   By The New York Community Trust
Why People Love Community Foundations

Community foundations combine the generosity of many to support a geographic area. At The New York Community Trust, we focus on making life better for all in New York City, Westchester, and Long Island.

Most community foundations have broadly defined missions and make grants to local nonprofits. They bring grantees together to strengthen their communities, and bring funders together to build power and resources to drive systemic improvements.

As public charities, community foundations like The New York Community Trust offer donors a way to give a wide range of assets in tax-saving ways that maximize the funding available to make a difference. 

Donors can create customized funds within these foundations, which offer a more practical, cost-effective, and well-staffed alternative to creating their own private foundations.

By pooling resources, community foundations offer economies of scale, investment expertise, and institutional wisdom to multiply the charitable impact of their donors. 

A Brief History of Community Foundations

  • 1914: The first community foundation is created in Cleveland.
  • 1924: Bankers and donors create The New York Community Trust.
  • 1931: The Trust pioneers the nation’s first donor-advised fund.
  • 2020: Community foundations mobilize nearly $1.4 billion for COVID-19 relief nationwide.
  • TODAY: 750+ community foundations nationwide grant $8 billion annually.

Learn more about the impact of community foundations.

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Marty Lipp
Communications Director
(917) 774-8159
mbl@nyct-cfi.org

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Assistant Director for Digital Media and Marketing
(917) 847-4992
aw@nyct-cfi.org

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Media Contact Information

Need help or advice?

Marty Lipp
Communications Director
(917) 774-8159
mbl@nyct-cfi.org

Amy Wolf
Assistant Director for Digital Media and Marketing
(917) 847-4992
aw@nyct-cfi.org

Get our media kit

Statue of Liberty in Red