The New York Community Trust
- Assets
- $3.5b
- Revenue
- $442.9m
- Investments
- $407.1m
- Employees
- 78
- Location
- New York, NY
- Founding
- 03/1959
- Data as of
- 12/2021
- 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 12/2021, New York Community Trust employed 78 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 12/2021, New York Community Trust generated $442.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $287.4m during the year ending 12/2021. While expenses have increased by 5.7% per year over the past 7 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE NEW YORK COMMUNITY TRUST CONNECTS PAST, PRESENT, AND FUTURE GENEROUS NEW YORKERS WITH VITAL NONPROFITS WORKING TO MAKE A HEALTHY, EQUITABLE, AND THRIVING COMMUNITY FOR ALL.
Describe the Organization's Program Activity:
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorie A Slutsky President | Officer | 45 | $994,954 |
Carrie Trowbridge General Counsel & Secretary | Officer | 45 | $331,568 |
Mercedes Leon VP & Asst. Secretary | Officer | 45 | $307,303 |
Carolyn M Weiss CPA CFO & Treasurer | Officer | 45 | $294,128 |
Kerry E Mccarthy VP Philanthropic Initiatives | Officer | 45 | $283,778 |
Shawn V Morehead VP For Grants | Officer | 45 | $281,347 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Commonfund Capital Investment Advisor | 12/30/21 | $1,724,389 |
Jpmorgan Chase Bank Trustee/invest Advis | 12/30/21 | $3,185,488 |
The Bank Of New York Mellon Trustee/invest Advis | 12/30/21 | $1,558,398 |
Davis Kempner Capital Management Investment Advisor | 12/30/21 | $1,499,667 |
Hsbc Usa Na Trustee/invest Advis | 12/30/21 | $1,412,834 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $42,933 |
| All other contributions, gifts, grants, and similar amounts not included above | $195,820,005 |
| Noncash contributions included in lines 1a–1f | $88,613,340 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $195,862,938 |
| Total Program Service Revenue | $0 |
| Investment income | $56,652,562 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $187,828,855 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $442,855,899 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $244,311,176 |
| Grants and other assistance to domestic individuals. | $3,307,100 |
| Grants and other assistance to Foreign Orgs/Individuals | $93,600 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,247,780 |
| Compensation of current officers, directors, key employees. | $1,691,736 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,651,452 |
| Pension plan accruals and contributions | $2,455,419 |
| Other employee benefits | $164,623 |
| Payroll taxes | $670,342 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $193,865 |
| Fees for services: Accounting | $129,903 |
| Fees for services: Lobbying | $36,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,922,690 |
| Fees for services: Other | $1,730,286 |
| Advertising and promotion | $845,255 |
| Office expenses | $464,342 |
| Information technology | $586,900 |
| Royalties | $0 |
| Occupancy | $2,172,227 |
| Travel | $3,508 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31,330 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $125,020 |
| Insurance | $242,562 |
| All other expenses | $21,572 |
| Total functional expenses | $287,406,952 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $71,713,699 |
| Pledges and grants receivable | $356,981 |
| Accounts receivable, net | $152,009 |
| 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 | $701,073 |
| Investments—publicly traded securities | $3,019,054,087 |
| Investments—other securities | $407,128,079 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,339,909 |
| Total assets | $3,500,445,837 |
| Accounts payable and accrued expenses | $638,979 |
| Grants payable | $47,718,769 |
| 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 | $4,722,599 |
| Total liabilities | $53,080,347 |
| Net assets without donor restrictions | $3,447,365,490 |
| 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 | $3,500,445,837 |
Grants Recieved
Over the last fiscal year, we have identified 49 grants that The New York Community Trust has recieved totaling $6,455,141.
| Awarding Organization | Amount |
|---|---|
Jerome L Greene Foundation Inc New York, NY PURPOSE: FURTHER 501(C)(3) CHARITABLE PURPOSE | $2,515,000 |
Robert & Joyce Menschel Foundation New York, NY PURPOSE: GENERAL/UNRESTRICTED SUPPORT | $400,000 |
Rx Foundation Hadley, MA PURPOSE: CONTRIBUTIONS TO THE RX FOUNDATION DONOR ADVISED FUND. | $303,209 |
Tiger Foundation New York, NY PURPOSE: FOSTER CARE EXCELLENCE FUND (# 4954) | $225,000 |
Altman Foundation New York, NY PURPOSE: TO SUPPORT THE NEW YORK CITY WORKFORCE DEVELOPMENT FUND, A FUNDER COLLABORATIVE FOCUSED ON PROMOTING A MORE EFFECTIVE AND EQUITABLE WORKFORCE SYSTEM FOR LOW-INCOME NEW YORKERS | $200,000 |
Jerome Foundation Inc Saint Paul, MN PURPOSE: SUPPORT FOR THE MOSAIC NETWORK AND FUND COLLABORATIVE FUNDING INITIATIVE | $200,000 |
Endowment Analysis
| Beg. Balance | $3,104,443,850 |
| Earnings | $427,355,522 |
| Admin Expense | $30,486,947 |
| Net Contributions | $195,862,938 |
| Other Expense | $2,179,996 |
| Grants | $247,629,876 |
| Ending Balance | $3,447,365,491 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The New York Community Trust New York, NY | $3,500,445,837 | $442,855,899 |
Boston Foundation Inc Boston, MA | $1,683,793,346 | $325,590,260 |
Fund For The City Of New York Inc New York, NY | $176,700,276 | $126,437,231 |
Community Foundation Of New Jersey Morristown, NJ | $853,045,584 | $257,903,592 |
Pittsburgh Foundation Pittsburgh, PA | $1,354,368,497 | $110,535,351 |
Hartford Foundation For Public Giving Hartford, CT | $1,125,106,021 | $82,935,365 |
Philadelphia Foundation Philadelphia, PA | $669,216,014 | $72,684,648 |
Community Foundation For Greater Buffalo Inc Buffalo, NY | $874,380,305 | $143,802,626 |
Community Foundation For Greater New Haven New Haven, CT | $745,279,119 | $58,670,540 |
Jewish Community Foundation Of Greater Metrowest Nj Whippany, NJ | $441,552,124 | $46,022,571 |
Federation Of Jewish Communities Of The C I S Inc New York, NY | $45,162,356 | $39,631,208 |
Fairfield Countys Community Foundation Inc Norwalk, CT | $264,164,706 | $42,534,303 |