Non-profit

New York Community Trust (Community Funds)

NYCT Logo (link) by Aw11232 is licensed CC BY-SA 3.0 (link)
Website:

www.nycommunitytrust.org

Location:

NEW YORK, NY

Tax ID:

13-3062214

Tax-Exempt Status:

501(c)(3)

Budget (2017):

Revenue: $251,019,647
Expenses: $256,421,146
Assets: $2,806,082,837

Formation:

1959

President:

Lorie Slutsky

Type:

Left-of-center donor advised fund

The New York Community Trust (Community Funds) (NYCT) is a left-of-center donor advised fund which makes grants to left-of-center and liberal groups in New York City, New York State, and in the United States. The organization makes grants primarily in the fields of LGBT-interest advocacy, environmentalism, liberal expansionist immigration policy, and education. One of the largest providers of donor-advised funds in the United States, the organization held assets of $2.5-billion at the end of 2018.

History

New York Community Trust was founded in 1924 by eleven New York-based banks. It transformed into what would become the nation’s first donor-advised fund provider in 1931 when New York philanthropist William S. Barstow sought a way to mitigate the effects of the Great Depression on the unemployed. All funds in the trust went to unemployed people in New York until the end of the Great Depression. [1]

In 1989, the organization founded the New York AIDS Fund, a daughter organization within the New York Community Trust which would dedicate funds from the organization to contribute to the research and implementation of medical research into the causes of, prevention of, and solutions to outbreaks of HIV and AIDS. [2]

In 2001, NYCT worked with United Way, a large nationwide organization which advocates for education issues, to create the September 11th Fund which worked to revitalize Lower Manhattan after the September 11th terrorist attacks in New York. September 11th Fund made more than $500 million in grants and assistance to victims, families, and businesses affected by the attacks. [3]

People

Valerie S. Peltier is the chair of the board of directors for the New York Community Trust. Peltier works for Tishman Speyer, a global real estate firm. Peltier is also a member of the board of trustees for the American Museum of Natural History and has worked on a number of large real estate development projects including the $1.5 billion Yankee Stadium. [4]

Lorie A. Slutsky is the director and president of NYCT. She began her career in 1977 when she started as a grant maker at the organization. She has sat on the board of directors and trustees of multiple organizations and universities such as Colgate University, the New School, the Foundation Center, and the Council on Foundations. [5]

Grantmaking

Abortion

The New York Community Trust makes a large amount of grants annually to organizations that advocate for more lenient abortion regulations and public funding of abortions. In 2018, the organization made grants of $25,250 to the International Planned Parenthood Federation, $20,000 to the National Network of Abortion Funds (also known as the Lilith Fund), $936,133.37 to various state level branches of Planned Parenthood, and $23,250 to NARAL Pro-Choice America. The organization also made a $20,000 grant to Medical Students for Choice, an organization which advocates for making abortion procedures a mandated part of medical training in American medical colleges. [6]

LGBT Interests

Aside from grantmaking, NYCT has done much to advocate for LGBT issues primarily in New York. The organization supported a New York City project which used taxpayer funds to protect certain historical locations related to LGBT history within the city of New York. The trust granted $170,000 to the Historic sites Project to assist with refurbishing the landmarks. [7]

Immigration

NYCT makes grants annually to organization which push liberal expansionist immigration policy. The organization made a $10,000 grant to Americans for Immigrant Justice, a $20,000 grant to Grantmakers Concerned with Immigrants and Refugees, and a $433,000 grant to Immigrant Justice Corps. [8]

Environmentalism

NYCT pushes a broadly left-of-center environmentalist policy through its grants. The organization made a $10,000 grant to Conservation Fund, a large environmentalist organization with more than $700 million in assets. It also made grants of $26,650 to Earthjustice, $7,850 to Greenpeace Fund, and $23,750 to 350.org.

The organization has been a longtime grant maker to the Tides Center and related entities and makes large grants annually. In 2018, the organization made $111,085 in grants to the Tides Center and Tides Foundation. [9]

Left-of-Center Grants

NYCT has made grants to organization which push a broad array of left-of-center issues. Notably, the organization made a $6,000 grant to Democracy Now! Productions, a left-of-center online news outlet. It also made grants totaling $50,000 to Women Donors Network, a left-of-center female advocacy group.

NYCT made a $200,000 grant in 2018 to Center for American Progress, one of the largest left-of-center think tanks in the United States. NYCT also made a $260,300 grant to Oxfam America, an organization to which liberal financier George Soros made large donations to in order to help push a liberal climate agenda. [10]

References

  1. “History.” The New York Community Trust. Accessed March 18, 2020. https://www.nycommunitytrust.org/about/history/. ^
  2. “Leading the Fight Against AIDS.” The New York Community Trust. 29 November 2018. Accessed March 18, 2020. https://www.nycommunitytrust.org/newsroom/leading-the-fight-against-aids/. ^
  3. “September 11th Fund.” Philanthropy News Digest. 10 Sep 2002. Accessed March 18, 2020. https://philanthropynewsdigest.org/npo-spotlight/september-11th-fund. ^
  4. “Staff Profiles: Valerie S. Peltier.” Tishman Speyer. Accessed March 18, 2020. https://tishmanspeyer.com/firm/people/bios/valerie-peltier. ^
  5. “Our Board: Lorie Slutsky.” New York Community Trust. Accessed March 18 2020. https://www.nycommunitytrust.org/about/our-board/. ^
  6. 2018 IRS Form 990 Return of Organization Exempt from Income Tax: The New York Community Trust. Part II, Line 1: Grants and other assistance to governments and organizations in the United States. ^
  7. “Bringing history out of the closet: New York City landmarks protect LGBTQ sites.” New York Community Trust. 26 February, 2020. Accessed March 18 2020. https://www.nycommunitytrust.org/newsroom/bringing-history-out-of-the-closet-new-york-city-landmarks-protect-lgbtq-sites/ ^
  8. 2018 IRS Form 990 Return of Organization Exempt from Income Tax: The New York Community Trust. Part II, Line 1: Grants and other assistance to governments and organizations in the United States. ^
  9. 2018 IRS Form 990 Return of Organization Exempt from Income Tax: The New York Community Trust. Part II, Line 1: Grants and other assistance to governments and organizations in the United States. ^
  10. 2018 IRS Form 990 Return of Organization Exempt from Income Tax: The New York Community Trust. Part II, Line 1: Grants and other assistance to governments and organizations in the United States. ^
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: March 1, 1959

  • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2017 Dec Form 990 $251,019,647 $256,421,146 $2,806,082,837 $73,943,658 Y $81,312,770 $0 $51,512,380 $4,054,252 PDF
    2016 Dec Form 990 $222,604,382 $228,153,738 $2,552,245,551 $53,062,128 Y $124,537,416 $0 $49,662,904 $3,877,156 PDF
    2015 Dec Form 990 $222,540,573 $194,968,189 $2,473,181,680 $33,047,838 Y $93,036,093 $0 $43,354,133 $3,824,022 PDF
    2014 Dec Form 990 $338,699,410 $187,216,956 $2,570,966,941 $31,201,037 Y $184,255,136 $0 $43,988,661 $3,483,707 PDF
    2013 Dec Form 990 $284,147,204 $171,644,978 $2,443,372,250 $33,967,542 Y $145,051,661 $0 $40,456,018 $3,442,105 PDF
    2012 Dec Form 990 $262,682,259 $159,929,939 $2,147,925,714 $40,627,915 Y $191,951,786 $0 $40,738,556 $3,515,619 PDF
    2011 Dec Form 990 $309,625,209 $161,001,184 $1,908,884,580 $40,807,989 Y $202,179,455 $0 $38,585,890 $3,699,715 PDF

    Additional Filings (PDFs)

    New York Community Trust (Community Funds)

    909 3RD AVE FL 22
    NEW YORK, NY 10022-4752