The New York Community Trust
- Assets
- $3.2b
- Revenue
- $282.5m
- Investments
- $402.4m
- Employees
- 73
- Location
- New York, NY
- Founding
- 03/1959
- Data as of
- 12/2023
- EIN
- 13-3062214
Organization Overview
The New York Community Trust is located in New York, NY. The organization was established in 1959. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, New York Community Trust employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York Community Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, New York Community Trust generated $282.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $238.4m during the year ending 12/2023. While expenses have increased by 0.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2023, New York Community Trust has awarded 2,405 individual grants totaling $189,030,176. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE FOSTER AND ENGAGE IN ENDURING AND INNOVATIVE PHILANTHROPY WITH A VISION (SEE SCHEDULE O).
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR COMPETITIVE GRANTS SEEK TO PROMOTE HEALTHY LIVES, EXPAND OPPORTUNITIES, STRENGTHEN FAMILIES, AND CREATE STRONG, VITAL COMMUNITIES. OUR GOVERNING BOARD HAS IDENTIFIED FOUR CATEGORIES OF ACTIVITY TO CARRY OUT THESE OBJECTIVES. THEY ARE SUMMARIZED IN SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Valerie S Peltier Chair | OfficerTrustee | 3 | $0 |
Jamie Drake Director | Trustee | 2 | $0 |
Stephen C Robinson Director | Trustee | 2 | $0 |
Judith O Rubin Director | Trustee | 2 | $0 |
Barron M Tenny Director | Trustee | 2 | $0 |
Ann Unterberg Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jpmorgan Chase Bank Trustee/investment Advisor | 12/30/23 | $3,005,339 |
Hbk Multi-strategy Offshore Fund Investment Advisor | 12/30/23 | $1,783,341 |
Southpoint Qualified Offshore Fund Investment Advisor | 12/30/23 | $1,398,796 |
Warburg Pincus Private Equity Trustee/investment Advisor | 12/30/23 | $1,354,892 |
The Bank Of New York Mellon Trustee/investment Advisor | 12/30/23 | $1,345,892 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $48,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $123,094,363 |
| Noncash contributions included in lines 1a–1f | $50,372,267 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $123,142,363 |
| Total Program Service Revenue | $0 |
| Investment income | $82,774,317 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $76,505,936 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $282,473,287 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $192,735,524 |
| Grants and other assistance to domestic individuals. | $303,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $34,750 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,044,612 |
| Compensation of current officers, directors, key employees. | $1,659,097 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,044,563 |
| Pension plan accruals and contributions | $2,085,877 |
| Other employee benefits | $1,044,424 |
| Payroll taxes | $675,497 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $264,238 |
| Fees for services: Accounting | $160,585 |
| Fees for services: Lobbying | $45,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,277,893 |
| Fees for services: Other | $2,045,928 |
| Advertising and promotion | $1,821,066 |
| Office expenses | $845,266 |
| Information technology | $992,652 |
| Royalties | $0 |
| Occupancy | $2,179,269 |
| Travel | $103,694 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $301,345 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $116,015 |
| Insurance | $240,912 |
| All other expenses | $0 |
| Total functional expenses | $238,398,524 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $74,208,819 |
| Pledges and grants receivable | $1,625,642 |
| Accounts receivable, net | $744,451 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $575,526 |
| Investments—publicly traded securities | $2,748,636,957 |
| Investments—other securities | $402,368,724 |
| Investments—program-related | $0 |
| Intangible assets | $77,677 |
| Other assets | $21,751,179 |
| Total assets | $3,249,988,975 |
| Accounts payable and accrued expenses | $443,351 |
| Grants payable | $58,103,316 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,559,095 |
| Total liabilities | $75,105,762 |
| Net assets without donor restrictions | $3,174,883,213 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,249,988,975 |
Grants Awarded
Over the last fiscal year, The New York Community Trust has awarded $189,030,176 in support to 2,405 organizations.
| Grant Recipient | Amount |
|---|---|
350ORG PURPOSE: FOR GENERAL SUPPORT. | $48,750 |
47 PALMER INC PURPOSE: FOR GENERAL SUPPORT. | $30,000 |
92ND STREET YM-YWHA PURPOSE: FOR PROGRAM SUPPORT. | $260,000 |
A BETTER CHANCE IN RIDGEFIELD INC PURPOSE: FOR GENERAL SUPPORT. | $10,000 |
1FOR3 DOT ORG INC PURPOSE: FOR GENERAL SUPPORT. | $25,000 |
A LIFE WITH DRUMS PURPOSE: FOR GENERAL SUPPORT. | $25,000 |