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The New York Community Trust
The New York Community Trust (The Trust) is a major community foundation serving New York City’s five boroughs, Long Island, and Westchester County. It administers over 2,200 charitable funds, manages approximately US$3.5 billion in assets (2024), and makes about US$200 million in grants annually. Since its inception in 1924, the Trust has awarded more than US$5.8 billion to nonprofits. It is a 501(c)(3) public charity headquartered in Manhattan, with offices in Irvington and Commack, NY. It is led by its fourth president, Amy Freitag (appointed 2022).
The New York Community Trust was established in the early 1920s as one of the nation’s first community foundations, modeled after the Cleveland Foundation, to provide New Yorkers with a permanent and flexible vehicle for charitable giving. It was legally structured to allow donors to create permanent funds, with income distributed to support a range of nonprofits in New York City.
In 1923, the Trust appointed Ralph Hayes as its first executive director. Hayes had previously been a key organizer at the Cleveland Foundation and brought to the Trust a vision for long-term civic stewardship through public-private partnerships. Under his leadership, the Trust professionalized its grant-making practices, expanded its donor base, and helped establish the national model for community foundations. When Hayes retired in the 1960s, the Trust had grown into a philanthropic institution with more than US$60 million in assets.
In 1924, the Trust made its first grant from a fund that Rosebel G. Schiff, a New Yorker, created with a US$1,000 gift. Following Schiff’s wishes, the grant was made to honor a high-achieving student at P.S. 9, a girls’ public school in Manhattan.
In 1931, the Trust established the first donor-advised fund (DAF), a type of charitable fund that allows an individual, family, or corporation to set up a named fund sponsored by a 501(c)(3) public charity. The institution holding the fund makes the grants and invests the principal of the fund to grow over time. Donors use their funds to recommend grants to nonprofits during their lifetime. The couple who set up the first DAF left their fund’s remainder to the Trust after their death to be used in perpetuity for strategic grant-making. This model combines the flexibility of private foundations with the administrative ease of public charities and has become one of the most widely used charitable giving vehicles in the country.
Throughout the 1920s and 1930s, the Trust received several substantial gifts from the estate plans of people who wanted to invest in the future of the region. One of these was Laura Spelman Rockefeller. During this time, the Trust began making grants to address the hardships brought on by the Great Depression. It supported relief efforts in New York City and helped stabilize social-service organizations facing increased demand. This period set the precedent for the Trust’s ongoing role responding to urgent civic and humanitarian needs.
During the 1940s, the Trust began managing legacy gifts with geographically diverse mandates. One notable bequest from Lucy Wortham James supported both New York City organizations and conservation efforts in rural Missouri. James’ estate helped preserve Maramec Spring Park, now owned and operated by the James Foundation, an affiliate of The New York Community Trust, in St. James, Missouri.
Beginning in 1957, the Trust funded the Heritage of New York Plaque Program in partnership with the Municipal Art Society and the New York City Landmarks Preservation Commission. Hundreds of historically significant buildings, including Grand Central Terminal, Bowery Savings Bank, and the New York Stock Exchange, were marked with prominent plaques.
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The New York Community Trust
The New York Community Trust (The Trust) is a major community foundation serving New York City’s five boroughs, Long Island, and Westchester County. It administers over 2,200 charitable funds, manages approximately US$3.5 billion in assets (2024), and makes about US$200 million in grants annually. Since its inception in 1924, the Trust has awarded more than US$5.8 billion to nonprofits. It is a 501(c)(3) public charity headquartered in Manhattan, with offices in Irvington and Commack, NY. It is led by its fourth president, Amy Freitag (appointed 2022).
The New York Community Trust was established in the early 1920s as one of the nation’s first community foundations, modeled after the Cleveland Foundation, to provide New Yorkers with a permanent and flexible vehicle for charitable giving. It was legally structured to allow donors to create permanent funds, with income distributed to support a range of nonprofits in New York City.
In 1923, the Trust appointed Ralph Hayes as its first executive director. Hayes had previously been a key organizer at the Cleveland Foundation and brought to the Trust a vision for long-term civic stewardship through public-private partnerships. Under his leadership, the Trust professionalized its grant-making practices, expanded its donor base, and helped establish the national model for community foundations. When Hayes retired in the 1960s, the Trust had grown into a philanthropic institution with more than US$60 million in assets.
In 1924, the Trust made its first grant from a fund that Rosebel G. Schiff, a New Yorker, created with a US$1,000 gift. Following Schiff’s wishes, the grant was made to honor a high-achieving student at P.S. 9, a girls’ public school in Manhattan.
In 1931, the Trust established the first donor-advised fund (DAF), a type of charitable fund that allows an individual, family, or corporation to set up a named fund sponsored by a 501(c)(3) public charity. The institution holding the fund makes the grants and invests the principal of the fund to grow over time. Donors use their funds to recommend grants to nonprofits during their lifetime. The couple who set up the first DAF left their fund’s remainder to the Trust after their death to be used in perpetuity for strategic grant-making. This model combines the flexibility of private foundations with the administrative ease of public charities and has become one of the most widely used charitable giving vehicles in the country.
Throughout the 1920s and 1930s, the Trust received several substantial gifts from the estate plans of people who wanted to invest in the future of the region. One of these was Laura Spelman Rockefeller. During this time, the Trust began making grants to address the hardships brought on by the Great Depression. It supported relief efforts in New York City and helped stabilize social-service organizations facing increased demand. This period set the precedent for the Trust’s ongoing role responding to urgent civic and humanitarian needs.
During the 1940s, the Trust began managing legacy gifts with geographically diverse mandates. One notable bequest from Lucy Wortham James supported both New York City organizations and conservation efforts in rural Missouri. James’ estate helped preserve Maramec Spring Park, now owned and operated by the James Foundation, an affiliate of The New York Community Trust, in St. James, Missouri.
Beginning in 1957, the Trust funded the Heritage of New York Plaque Program in partnership with the Municipal Art Society and the New York City Landmarks Preservation Commission. Hundreds of historically significant buildings, including Grand Central Terminal, Bowery Savings Bank, and the New York Stock Exchange, were marked with prominent plaques.