| Form 990 - Additional Information |
This is a consolidated return for The New York Community Trust (13-3062214) and Community Funds, Inc. (13-6089923). Prior to 1980, the above named taxpayers filed separate tax returns, but were then granted permission by the IRS to file a consolidated return. The main office for both is located at 909 Third Avenue, New York, NY 10022. |
| Form 990 - Organization's Mission or Most Significant Activities |
Form 990, Part I, line 1 and Form 990, Part III, line 1 Since 1924, The New York Community Trust has built a permanent endowment to support the nonprofit organizations that make our city a vital place, while making it easy for New Yorkers to be philanthropists. With thousands of charitable funds set up by individuals, families, and businesses, and with an expert staff, we help donors with their giving and enable their generosity to continue even after their lifetimes. |
| Form 990 - Program Service Accomplishments |
FORM 990, PART III, LINE 4A OUR COMPETITIVE PROGRAM GRANTS SEEK TO PROMOTE HEALTHY LIVES, EXPAND OPPORTUNITIES, STRENGTHEN FAMILIES, DEVELOP CHILDREN AND YOUTH, AND CREATE STRONG, VITAL COMMUNITIES. OUR GOVERNING BOARD HAS IDENTIFIED FOUR CATEGORIES OF ACTIVITY TO CARRY OUT THESE OBJECTIVES. THEY ARE SUMMARIZED BELOW. HEALTHY LIVES AS HEALTH CARE CHANGES, WE'RE HELPING PROVIDERS DELIVER EFFICIENT, COST-EFFECTIVE SERVICES TO ALL NEW YORKERS. THE TRUST MADE $9.4 MILLION IN GRANTS TO SUPPORT PROJECTS THAT IMPROVE QUALITY OF CARE, STRENGTHEN HEALTH CARE PROVIDERS, ADDRESS COSTS AND HEALTH DISPARITIES, AND DEVELOP THE SKILLS AND INDEPENDENCE OF PEOPLE WITH DISABILITIES. DURING THE CORONAVIRUS PANDEMIC, GRANTS HELPED IMPROVE TELEHEALTH, PROVIDED EMERGENCY FOOD AND VIRTUAL SUPPORT TO OLDER ADULTS, AND RESEARCHED THE VIRUS AND POTENTIAL TREATMENTS. PROMISING FUTURES WE MADE GRANTS TOTALING $20.4 MILLION TO BUILD PROMISING FUTURES BY HELPING YOUNG PEOPLE PROSPER; PROVIDING JOB TRAINING AND PLACEMENT; MAKING OUR EDUCATIONAL AND JUSTICE SYSTEMS WORK FOR EVERYONE; ALLEVIATING HUNGER AND HOMELESSNESS; IMPROVING FAMILY AND CHILD WELFARE SERVICES; AND ADVANCING THE PRACTICE OF SOCIAL WORK. IN PARTICULAR, GRANTS PROVIDED INTERNET ACCESS TO HOMELESS STUDENTS WHILE SCHOOLS WERE SHUT DOWN, DEVELOPED YOUNG LEADERS, AND SUPPORTED PEOPLE RETURNING TO THEIR COMMUNITIES AFTER INCARCERATION. THRIVING COMMUNITIES WE MADE $16.5 MILLION IN GRANTS TO GROUPS THAT PROTECT AND CREATE AFFORDABLE HOUSING, PROMOTE EQUITY IN THE ARTS, IMPROVE CIVIC ENGAGEMENT, AND PROTECT OUR ENVIRONMENT. WE SUPPORT AGENCIES WORKING ON THESE ISSUES AT THE NEIGHBORHOOD LEVEL, AS WELL AS GOVERNMENT AND NONPROFIT INSTITUTIONS DEVELOPING STRATEGIES. WE ALSO SUPPORT EFFORTS TO IMPROVE THE FUNCTIONING OF NONPROFITS AND GOVERNMENT. GRANTS HELPED NONPROFITS ADAPT TO THE DEMANDS OF THE PANDEMIC (INCLUDING SHUTTERED ARTS GROUPS), ENCOURAGED PEOPLE TO COMPLETE THE CENSUS, AND PROTECTED CRITICAL WILDLIFE MIGRATION CORRIDORS. SPECIAL PROJECTS AND PHILANTHROPY WE MADE $75.1 MILLION IN GRANTS TO ADDRESS UNMET NEEDS, AND LEVERAGE SUPPORT FOR EMERGING ISSUES. MOST OF THESE GRANTS WERE MADE IN APRIL, MAY, AND JUNE TO HELP NONPROFITS MEET THE UNEXPECTED SOCIAL SERVICE NEEDS CREATED BY THE PANDEMIC AND AVOID SHUTTING DOWN BECAUSE OF LOSSES IN REVENUE. AS A LEADING COMMUNITY FOUNDATION, OUR ACTIVE PARTICIPATION IN ASSOCIATIONS OF GRANTMAKERS AND CHARITABLE watchdog groups, OUR COOPERATIVE PROJECTS WITH OTHER FOUNDATIONS, AND OUR CONTINUING DIALOGUE WITH FEDERAL, STATE, AND LOCAL GOVERNMENT OFFICIALS, HELP ASSURE THAT OUR RESOURCES ARE USED STRATEGICALLY. |
| Form 990 - Form 990T Not Filed Explanation |
Form 990, Part V, line 3b For the year ending December 31, 2020, the organization has submitted an Application for Extension of Time to file its Form 990-T with the Internal Revenue Service. All of the unrelated business income (UBI) is generated by the organization's investments, and the information required to prepare and file the Form 990-T will not be provided by all of the investment managers prior to submission of this Form 990. The Form 990-T will be filed with the Internal Revenue Service prior to the end of the approved extension period. The UBIT numbers reported on this Form 990 are estimated amounts. |
| Form 990 - Oranization's Process to Review Form 990 |
Form 990, Part VI, Section B, line 11b The 990 is prepared internally and reviewed by the CFO and President of the organization. It is also reviewed by an independent public accounting firm who signs the 990 as paid preparer. The form is distributed to the board in advance of filing. |
| Form 990 - Enforcement of Conflicts Policy |
Form 990, Part VI, Section B, line 12c All members of the governing board, officers, and senior staff must review the conflict of interest policy and complete a questionnaire concerning compliance on an annual basis. The forms are reviewed by the General Counsel to ensure ongoing compliance, and to determine whether or not a conflict exists. A conflict with respect to a potential transaction is required to be disclosed, and the conflicted staff or board member is excluded from participating in deliberations and decisions concerning the matter. |
| Form 990 - Compensation Process for Top Official |
Form 990, Part VI, Section B, line 15a The President is the top management official of The Trust, and her compensation package is reviewed and decided upon annually by the board of directors, based upon a recommendation from the Compensation Committee comprised of several independent members of the board of directors. As part of this process the Compensation Committee prepares a written performance appraisal with input from all of the board members. Annually, through the use of various surveys, the Committee compares the President's compensation to that of others in similar positions and with peer institutions. The Committee also engaged an independent compensation consultant to evaluate the President's compensation package to determine if the components of the package, as well as the package as a whole, continue to be fair and reasonable. The Committee reports their findings, the overall performance appraisal and their recommendation to the full board of directors in executive session at the last meeting of the year. After review and discussion, the board determines the President's compensation for the next year. |
| Form 990 - Compensation Process for Officers |
Form 990, Part VI, Section B, line 15b Officers, as well as other employees, receive annual performance appraisals from their immediate supervisor. Salary adjustments must be approved by the president of the organization and will be given, where appropriate, based upon the annual performance review and within budgetary guidelines approved by the board of directors. As part of this process various outside salary surveys are used to assist in determining any adjustments. Independent compensation consultants are used periodically. |
| Form 990 - Governing Documents Disclosure Explanation |
Form 990, Part VI, Section C, line 19 The audited financial statements and the conflict of interest policy are available on the website of The Trust. The IRS Form 990 is available on Guidestar's website, and other similar public websites. All of these documents, along with a copy of the governing documents and the Form 990-T are available upon request at management's discretion. |
| Form 990 - Part VII - Additional Information |
Form 990, Part VII, Section A, column (F) & Schedule J, column (C) The IRS requires that The Trust include for each individual the actuarially imputed increase in value of its long standing defined benefit plan. |
| Form 990 - Other Changes in Net Assets Explanation |
Form 990, Part XI, line 9 Other changes in net assets or fund balances represent other pension and postretirement medical changes of ($1,660,867) and other components of net periodic cost of $664,311. |
Attach to Form 990 or 990-EZ.