The New York Community Trust was originally created to administer charitable funds set up by bequest, assuring donors that their good works would continue beyond their lifetimes. The Trust still does that, offering unrestricted funds, which leave discretion to its board to use the gift to meet contemporary needs in New York City; field-of-interest funds, which name an area(s) of charitable interest, such as public education or the elderly, and allow the Trust to identify nonprofits to receive grants; and designated funds, which name one or more charities to benefit. Donors can also set up these funds during their lifetimes and have the option of choosing a donor-advised fund, which gives the donor the privilege of recommending grants.
Purpose of Site:
To disseminate information about the Trust's services and resources for donors and professional advisers.
Started by a group of bankers in 1924, the New York Community Trust at the end of 2000 had assets valued at almost $2 billion and distributed $144 million in grants to charitable organizations in New York City, Long Island, Westchester, across the country, and in several foreign countries.
The recently designed Web site of the New York Community Trusts is very easy to navigate and offers extensive information on the Trust, specifically, as well as the purpose and history of community trusts, in general. Publications and other resources are available on the site for both donors and financial advisers alike.
The outstanding feature on the Trust is the Information for Prospective Donors page. This section presents a wealth of information about the Trust: why a donor should fund at the Trust, kinds of funds, the kinds of assets the Trust accepts, planned giving, the Trust's investments, fees, and the Trust's charitable guidelines. There is also a section for professional financial advisers a one for current donors.