Legal Momentum

Established in 1924, the New York Community Trust specializes in grant making programs. The trust has formal grant making in four areas: arts, education and the humanities; children, youth, and families; community development and environment; and health and special needs. Grants from the programs are made almost exclusively in New York City. Grants to organizations outside of New York are typically made from donor-advised or designated funds. Donors to the trust can choose from four kinds of funds: unrestricted funds, field-of interest funds, designated funds and donor-advised funds. Funds can be started with a minimum of $5,000 and can be set up in one of the trust s 14 trustee banks or its corporate affiliate, Community Funds, Inc. They can also be set up to take advantage of a number of deferred giving options and to provide current tax benefits, as well as during a lifetime or by will.