2023 Fall Grants Newsltter by The New York Community Trust

Grants FALL 2023 NEWSLETTER

Finding a calling after incarceration page 7

W H AT ’S INSIDE

CUNY Dance Initiative Turns 10 pages 4-5

Focus on the East End of Long Island page 10-11

WELCOME

Congrats... President Amy Freitag, Westchester Community Foundation Executive Director Laura Rossi, and Long Island Community Foundation Executive Director David Okorn were included in City & State’s Power 100 lists. Trust staff spoke at recent national conferences: Philanthropic Initiatives Officer Julia Chang presented on The Trust’s philanthropic advising services at Exponent Philanthropy, Vice President for Donor Relations John Oddy covered trust-based philanthropy at the DAF Giving Summit, and at Grantmakers for Education, Senior Program Officer Eve Stotland addressed inclusive schools for students in need of emotional and behavioral support.

The New York Community Trust is a public charity and New York City’s largest community foundation. We connect generous people and institutions with high-impact nonprofits making New York City, Long Island, and Westchester better places for all.

Patricia A. Swann was recognized for her more than 20 years of service in our competitive grants program at events held by Neighborhood Housing Services of NYC and TakeRoot Justice.

Recommendations from our staff

We build stronger communities, influence public policy, foster innovation, improve lives, and protect our environment.

We’d like to hear from you. Please contact us with questions or comments: (212) 686-0010 or info@nyct-cfi.org

ON THE COVER: Center for Employment Opportunities alumnus Michael Holder outside his workplace in lower Manhattan. Photo by Casey Kelbaugh

How To Save The World In Six (Not So Easy) Steps: Bringing Out The Best in Nonprofits by David M. Schizer Recommended by David Okorn, executive director of our Long Island Community Foundation: “A treasure trove of fundamental principles to improve the effectiveness of nonprofits, this is a must-read for executives and board members.” Our Missing Hearts by Celeste Ng Recommended by Skyelar Andrews, donor relations assistant: “One of the best books I’ve read recently. It’s set in a dystopian world and discusses antiAsian American hate as well as class and free speech issues.” Beautiful Country by Qian Julie Wang Recommended by Rachel Pardoe, senior program officer for older adults, people with disabilities, and animal welfare: “A memoir about coming of age as an undocumented immigrant in New York City.”

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FROM THE DESK OF...

How we’re preparing for the next 100 years AMY FREITAG Amy Freitag took the helm of The New York Community Trust in July 2022. Prior to her appointment, she led the J.M. Kaplan Fund, the TortoraSillcox Family Foundation, and the New York Restoration Project. She also served as the deputy commissioner for capital projects with the New York City Department of Parks and Recreation.

Photo by Ari Mintz

he opportunity, energy, and dynamism of New York drew me in. At the start of my career, I had a goal of working in theater, and what better place to pursue it. I had transformative adventures at the Brooklyn Academy of Music, Manhattan Theatre Club, and on Broadway. But soon the city itself became my passion: the historic fabric, the buildings, people, and places that make New York a beacon. I witnessed the early days of Central Park’s restoration and relished the opportunity to jump in and get my hands dirty (literally and figuratively) building connections between New Yorkers with our city’s precious parks and community gardens. Across my decades of experience, I marveled at philanthropy’s role as a powerful and nimble agent of change. Leading two New York-based foundations let me combine my love of the arts, the city, and justice to fuel innovation and lasting Grants Newsletter | Fall 2023

impact. That journey brings me to this incredible job leading the region’s oldest and largest community foundation into its 100th year. Here, I wake up every morning eager to help this legendary institution—and our community— grow and thrive. I am reminded daily that as we look to the future, we are charged with honoring and preserving the legacy of the generations of donors who put their trust in community philanthropy. The Trust has thousands of donors who made gifts long ago that continue to enrich New Yorkers’ lives. One favorite is David Warfield, the most famous actor in 1920s New York. As he neared the end of his life, David lost his vision. This drove him to leave a major gift to The Trust in his will to help others with vision loss. Over the past 75 years, David’s fund has granted millions to support people with vision loss in places like the settlement houses in the South Bronx, where 84%

of participants failed eye exams. Thanks to David, and other legacy donors, The Trust is the largest contributor to disability causes in our region. As we head into the heart of the annual giving season and approach our 100th anniversary in 2024, we must find the right balance between preservation and progress and evolve to meet the urgent needs of the communities we serve—from climate change to migration to decarceration. The Trust’s anniversary offers an amazing opportunity to find and celebrate the David Warfields of our time and help a new generation of donors create new legacies and make change, together. It is only through the power of collaboration and community that we can act at the scale demanded by the awesome challenges ahead. Help us spread the word about the power of community philanthropy and be a part of our next 100 years. n

GETTING RESULTS

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Performance by Kinesis Project dance theatre, 2016 & 2017-18 resident artist at John Jay College. Photo by Stephen de las Heras

10 years of turning CUNY campuses into dance hubs

he pandemic was punishing to our city’s dance community, depriving it of audiences, performances, and paychecks. To ensure New York remains the dance capital of our nation, we need to help choreographers and their companies thrive. This includes connecting them with space to create and perform and opportunities to nurture tomorrow’s dancers. LaGuardia Community College created a model that caught our program team’s attention. It shared its auditoriums and dance spaces with professional dancers, who, in exchange, taught and performed on campus. To replicate this model across the city’s public university system, the Queens College Kupferberg Center for the Arts, with five years of support from The Trust, started the CUNY Dance Initiative. The Initiative gives professional choreographers and dance companies residencies that include rehearsal and performance space, artist fees, and production costs. In return, dancers conduct master classes and lectures and bring high-caliber performances to college audiences. Today, there is no dance residency program of its scope in the country. Since its launch in 2014, the Initiative has: facilitated 220 residencies at 13 CUNY colleges in all five boroughs; granted dancers more than 11,000 hours of studio and stage time; sponsored instruction for more than 5,000 students; and attracted more than 20,000 New Yorkers to performances at CUNY arts centers. Grants Newsletter | Fall 2023

For artists, the impact of this program is far-reaching. Alumni have won Bessie Awards and Guggenheim Fellowships for work developed during residencies and made connections with additional teaching and performance engagements. One of the groups, an allfemale tap-dance band called the Syncopated Ladies, used its residency at John Jay College to develop a successful new show. At the end of an intensive two weeks, it sold out the premiere of We Are the Music, with an audience of 650. A New York Times review helped secure future bookings. “Having concentrated rehearsal time,” said company co-founder Maud Arnold, “was the only way we could have made this show happen.” “Finding space in the densest city in America is tough, especially for dancers,” said Salem Tsegaye, program officer for arts and culture at The Trust. “This program not only makes great use of underutilized spaces, but also brings an incredible cultural resource to CUNY campuses.” Because a choreographer can’t create at their kitchen table—they need space—The Trust extended its work, providing rehearsal space to even more dancers. Recent grants to Partners for Sacred Places to work with Dance/NYC and the New York Landmarks Conservancy enable dance troupes to rehearse and perform in the City’s historic houses of worship. In 2022, Partners worked with Brick and Mortals to launch venuely.org—a service that opens a new market for affordable rentals for dancers and other performers. The Trust is proud to support these partnerships to help the city's dance scene grow and thrive. n

INTERLUDE

Photo by Wenyan Zhang, a Lower East Side resident and student who participated in a local photography program run by NYC Salt.

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FIRST PERSON

“I can see myself doing this for the rest of my life.” Finding a calling after incarceration MICHAEL HOLDER Michael Holder credits the Center for Employment Opportunities (CEO) with helping him find his professional calling and achieve job security. CEO provides employment services—including community support, job-readiness training, and job placement and retention assistance—to individuals recently released from incarceration. Photo by Casey Kelbaugh

“D

uring my time in probation and parole, I overheard someone talking about the Center for Employment Opportunities (CEO). I immediately thought, ‘That’s exactly what I need.’ When I met with a CEO counselor, it gave me an understanding of the program’s benefits and the positive impact it could have on my future, as long as I could stick with it. So, I started working in sanitation at different locations. I was always punctual; I’d get the job done. There were only positive reviews on my work ethic, and eventually I moved to an office job. But then the pandemic hit. I didn’t know what to do. The New York office where I worked went mostly remote, which affected my position. CEO kept me in mind. They called me about an opportunity with digital marketing at Mediacom. I didn’t know anything about digital marketing—but Mediacom trained me, and I’m a fast learner. I applied myself, and they said I exceeded their expectations. I have CEO to thank, because they didn’t give up on me, and I believe my strong work ethic played a significant role in my success.

Grants Newsletter | Fall 2023

I work in advertising operations, where I deal with quality assurance for ads and handle various digital tools and platforms. One of my notable achievements was working on the production of a commercial for Kay Jewelers, which I later saw on TV. It was rewarding to witness the outcome of my efforts. My responsibilities included ensuring the video length matched the ad length and employing an ad validation tool for verification. In my role, effective communication with different teams is crucial. I had to learn how to write professional emails, read between the lines—what is this person asking for? How can I articulate this to get my point across? I learned that on the job. It’s like learning a whole new language.

Mediacom promoted me to senior associate in advertising operations—and I am thrilled about it. I can see myself doing this for the rest of my life, and I feel incredibly fortunate to have found this opportunity. It’s important to give people a chance, like Mediacom and CEO gave me. I appreciate that they are keeping up with the ever-changing times and fostering inclusivity. All of CEO’s clients are people just coming home and trying to reacclimate themselves with society, and CEO is there to help. They provide an invaluable service to the community, and they deserve recognition for this. They should be throwing parades for CEO—there should be an awards show on TV just for them.” n

GETTING RESULTS

Sparking impact: Our collaboration with SeaChange Capital Partners

A Brooklyn Community Services/Turning Point shower bus, made possible in part by a loan from the New York Pooled Program Related Investment Fund. Photo by Maya Krugman

o achieve our mission of creating a vibrant region, The Trust needs great partners, which is why we value our relationship with SeaChange Capital Partners. Established in 2007 by senior Wall Street executives to help nonprofits facing complex financial and organizational challenges, SeaChange “envisioned itself as a ‘merchant bank’ for the nonprofit sector, a modern-day version of the merchant banks in medieval times that provided money, expertise, and contacts to entrepreneurial networks,” said Managing Partner John MacIntosh.

FACILITATING NONPROFIT MERGERS AND COLLABORATIONS

For its first act in New York, SeaChange created the New York Merger and Collaboration Fund (NYMAC) with Trust support in the aftermath of the 2008 Great Recession. This pooled fund continues to help nonprofits explore and implement mergers and other sustained collaborations and has become an important part of the city’s philanthropic infrastructure. Nonprofits large and small come to NYMAC seeking grants and advice, as well as connections to experts and consultants. Part bankers, part executive coaches, nycommunitytrust.org

part therapists—MacIntosh and the SeaChange team are highly valued and respected for their expertise, and for their discretion: just as in the private sector, confidential conversations are often needed in the early stages of mergers and collaborations. NYMAC has made 80 grants assisting nearly 200 nonprofits that covered fees for attorneys, accountants, and communications experts, as well as one-time costs such as buying out a lease or moving expenses. A recent assessment found that 71 percent of these grants resulted in expanded services, while 21 percent saved programs that would otherwise have been eliminated.

IMPACT INVESTING

Foundations such as ours can help the causes we care about by investing our capital for social good in addition to our grantmaking. Impact investing lets donors seek both a financial return and a positive measurable social impact from invested capital. Impact investments can take many forms—including low-interest loans, credit, and equity—and like most investments, there is no guarantee of a return. But impact investing can be complicated and expensive for foundations to do on their own. In response, SeaChange created the New York Pooled Program Related Investment Fund (NYPRI), to make it easier for foundations like The Trust to provide loans to nonprofits. NYPRI has made $21.5 million in loans to 24 city nonprofits. Loans range in size from $120,000 to $6.6 million. The average interest rate is 4.4 percent. NYPRI projects are complicated, typically involving a blend of funding for unusual expenses, such as acquisition and construction loans to build or upgrade facilities or bridge loans while awaiting capital campaign commitments. NYPRI “deals” have included: •

a combined public library neighborhood branch and affordable housing complex in Inwood/ Washington Heights;

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a “shower bus” for people experiencing homelessness; and

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two state-of-the-art performance venues with affordable rehearsal space.

One of NYPRI’s earliest projects—a loan to finance the acquisition and build-out of Gibney Dance Theatre’s lower Manhattan studio—has already been paid back. Founder Gina Gibney said the loan made all the difference. “We wouldn’t have been able to make this project happen without NYPRI’s timely and strategic injection of money,” she said.

Grants Newsletter | Fall 2023

A NEW WAY TO PUT DONOR-ADVISED FUNDS TO WORK

Last year, The Trust once again turned to SeaChange when it piloted an impact investing vehicle that let our donor-advised funds invest up to 10 percent of their assets in Impact New York 2022, which in turn makes loans to city nonprofits in need. Payments on loan principal are then recycled back into the investment vehicle.

CREATING AFFORDABLE HOUSING

As the city’s housing crisis worsens, SeaChange has created more impact investment opportunities that foundations are investing capital in. Its New York Shelter Acquisition and Predevelopment Fund, a partnership with the Adams administration, offers loans of up to $3.7 million at 7 percent interest to help nonprofits with startup costs for developing shelters with associated housing, including deposits, appraisals, site assessments, and legal fees. The effort should result in 10 new shelters over the next four years. Additionally, SeaChange created the New York Investment Opportunities Fund as a vehicle for foundations to support market-rate investments in social good projects, including mixed-income, mixeduse real estate development. SeaChange has fulfilled its vision. It is a pivotal financial resource for the nonprofit sector, and its knowledge and expertise make it the hub for a network of foundations, consultants, and volunteers. Most importantly, it is an influential and consistent advocate, helping to support a more dynamic, resilient, and impactful New York City nonprofit community. We couldn’t have found a better partner. n

GOT CAPITAL? WANT CAPITAL? • If you are a donor and want to learn more about impact investing opportunities at The Trust, please contact Kerry McCarthy, vice president for philanthropic initiatives, at kem@nyct-cfi.org. • If you are a nonprofit and want to learn more about loans, contact SeaChange at info@seachangecap.org.

LONG ISLAND

Focus on the East End

ach year, the country’s 1 percent flock to Long Island’s East End, where they call the Hamptons home for the summer. Well known for its billionaire mansions and celebrity getaways, the East End is also home to striking wealth gaps and rich cultural diversity—and to community organizations that advocate tirelessly to solve inequities and honor the heritage of its Indigenous residents and newest immigrants. By funding these nonprofits, our Long Island Community Foundation supports the area’s varied interests and communities.

PRESERVING SHINNECOCK CULTURE

A testament to resilience, the Shinnecock people have lived on Long Island for 13,000 years. The Shinnecock Indian Nation is one of only two federally recognized tribes on Long Island today; it survived centuries of colonization and forced assimilation. To protect the cherished cultural identity of the Shinnecock Nation and other Native tribes, the Foundation supported the Padoquohan Medicine Lodge. This vital sanctuary provides food and safe shelter for tribe members and partners with community groups to identify risks to the tribes’ wellbeing. The Lodge also safeguards sacred burial grounds from development and rallies advocates to conserve Indigenous land for generations to come.

REVIVING SHINNECOCK BAY WITH SUGAR KELP

In 2012, pollutants clouded the waters of Shinnecock Bay and endangered the tribe’s 9,000 acres of plants, fish, and shellfish. The Shinnecock Kelp Farmers and Sisters of St. Joseph expertly addressed this

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problem with quick thinking and the current school year. cleansing effects of growing sugar kelp in water. TEACH A CHILD TO FISH The Farmers spent 2021 Meanwhile, Bridgehampton Child harvesting enough sugar kelp to Care & Recreational Center helps help extract nitrates from the water improve the lives of Long Island and replace the use of chemical children through education and fertilizers. As a result, Shinnecock enrichment programs. The Center’s Bay’s water quality surged, along Teach Me How to Fish workforce with the amount of kelp now needed training strategy brightens the to sustain its cleaner water. economic future of Black Long Sisters of St. Joseph, a convent Islanders, coaching participants to whose service to the environment successfully land high-paying jobs. coincides with its religious mission, Investing in the high-demand will conduct a feasibility study to workforce sectors that help Long learn how much sugar kelp farmers Island prosper, the Center’s can keep growing, and how to build a program offers extensive training in sustainable hatchery to incubate it. software engineering, professional The hatchery will help free development, real estate, Shinnecock Bay of chemical manufacturing, and clean energy. pollutants, while nurturing long-term Next up, the Center will work self-sufficiency for the Shinnecock with more Long Island businesses Kelp Farmers. and the Long Island Community Foundation’s Racial Equity Fund to TUTORING ON THE RESERVATION help close the wealth equity gap in Amid the learning setbacks brought the community through advocacy on by COVID-19, Shinnecock and public policy work. Reservation students underwent a similar journey of perseverance. IMMIGRANTS POWER THE ECONOMY Hamptons Community Outreach AND FACE AN UNSEEN CRISIS helped high school students A recent study from The dramatically improve their grade Immigration Research Initiative point average with personalized revealed that contrary to negative tutoring, free mental health services, portrayals in the media, Long and college and career counseling Island’s immigrants have a positive during the pandemic. and often-overlooked economic The nonprofit plans to scale up impact. Immigrants on Long its work helping Shinnecock young Island fill much-needed roles in the people reach their full potential by workforce, and the majority hold expanding its resources to more middle- or upper-wage jobs. children across the Reservation— Despite this good news, the including middle schoolers for the East End’s Central American

community—the fifth largest in the United States—faces hardship. We created the Long Island Immigrant Children’s Fund, a pooled fund of foundations and individual donors, to provide critical social and advocacy services to Central American children who began arriving on Long Island without adult family members in unexpectedly large numbers in 2014. Nonprofits like Catholic Charities, Safe Passage Project, and CARECEN have illuminated the challenges immigrants face, while providing social and legal services that empower children. The East End of Long Island is a complex region that benefits from nonprofits making life better for all residents, especially those most in need. n Photos on page 10: Women from the Shinnecock Indian Nation on Long Island farm kelp in the Shinnecock Bay to capture carbon and nitrogen. Top: Danielle Hopsun-Begun and Beverly Gwathney. Photo by Matt Ballard Bottom: S. Karen Burke, Congregation of St. Joseph, and Danielle Hopsun-Begun. Photo by Shinnecock Kelp Farmers

Help Wanted, a short documentary presented by our Long Island Community Foundation and the J.M. Kaplan Fund, delves into the plights and realities of immigrant families trying to survive on Long Island. Scan this QR code to watch the full documentary.

Financial information about The New York Community Trust can be obtained by contacting us at: 909 Third Avenue, 22nd Floor, New York, New York 10022, (212) 686-0010, at www.nycommunitytrust.org, or as stated below: Florida: SC No. CH9514 A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE, WITHIN THE STATE, 1-800-HELP-FLA OR AT www.FloridaConsumerHelp.com REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE. Maryland: For the cost of postage and copying, from the Secretary of State. Michigan: MICS No. 22265. Mississippi: The official registration and financial information of The New York Community Trust may be obtained from the Mississippi Secretary of State’s office by calling 1-888-236-6167. New Jersey: INFORMATION FILED WITH THE ATTORNEY GENERAL CONCERNING THIS CHARITABLE SOLICITATION AND THE PERCENTAGE OF CONTRIBUTIONS RECEIVED BY THE CHARITY DURING THE LAST REPORTING PERIOD THAT WERE DEDICATED TO THE CHARITABLE PURPOSE MAY BE OBTAINED FROM THE ATTORNEY GENERAL OF THE STATE OF NEW JERSEY BY CALLING (973) 504-6215 AND IS AVAILABLE ON THE INTERNET AT http://www.state.nj.us/lps/ca/charfrm/htm. New York: A copy of our most recent financial report is available from the Charities Registry on the New York State Attorney General’s website at www.charitiesnys.com or, upon request, by contacting the NYS Attorney General, Charities Bureau, at 120 Broadway, New York, NY 10271 or at 212-416-8401. North Carolina: Financial information about this organization and a copy of its license are available from the State Solicitation Licensing Branch at (888) 830-4989 (within N.C.) or (919) 814-5400 (outside N.C.). Pennsylvania: The official registration and financial information of The New York Community Trust may be obtained from the Pennsylvania Department of State by calling toll-free, within Pennsylvania, 1-800-732-0999. Virginia: From the State Office of Consumer Affairs in the Department of Agriculture and Consumer Affairs, P.O. Box 1163, Richmond, VA 23218. Washington: From the Charities Program at 1-800-332-4483, or www.sos.wa.gov/charities. West Virginia: West Virginia residents may obtain a summary of the registration and financial documents from the Secretary of State, State Capitol, Charleston, WV 25305. Wisconsin: A financial statement of the organization disclosing assets, liabilities, fund balances, revenue and expenses for the preceding fiscal year will be provided to any person upon request. CONTRIBUTIONS ARE DEDUCTIBLE FOR FEDERAL INCOME TAX PURPOSES IN ACCORDANCE WITH APPLICABLE LAW. REGISTRATION IN A STATE DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION OF THE NEW YORK COMMUNITY TRUST BY THE STATE.

Grants Newsletter | Fall 2023

WESTCHESTER

Local nonprofits harness the power of art in Westchester

DOUBLE YOUR MONEY BY HELPING THE ARTS IN WESTCHESTER Thanks to a generous anonymous donor, the Westchester Community Foundation will match all contributions to its Arts and Creative Expression Fund 1:1 up to $500,000. To learn more about this rare opportunity to double your gift to the arts, contact Laura Rossi, executive director, at lrossi@wcf-ny.org, or (914) 948-5166 ext. 3.

reative expression gives us the opportunity to imagine, to dream, and to remember. When the arts enhance our sense of connection to one another and to our community, we expand our horizons and are moved to feel empathy or take action to help others. “The arts are essential to thriving communities,” said Laura Rossi, executive director of the Westchester Community Foundation. “Individuals need the arts—and communities as a whole do, too.” Westchester County’s arts sector generates significant economic activity annually. The arts revitalize local neighborhoods, bring new visitors, drive tourism, attract business, and create jobs. Westchester Community Foundation’s longstanding support for the arts has spanned countless musical events, film festivals, and performances of folklore for residents of all ages. Grants have underwritten music performances at Jazz Forum Arts in Tarrytown, Downtown Music at Grace in White Plains, film festivals at the Picture House Regional Film Center, and lecture series, concerts, and discussions throughout the county. Scores of emerging artists, including composers at Copland House, filmmakers at the Jacob Burns Film Center, ceramic artists at Clay Art Center, and actors at the Hudson Valley Shakespeare Festival, have benefited from residencies made possible through the generosity of Emily and Harold E. Valentine and Evelyn Gable Clark, who created a permanent fund with us more than 20 years ago. But there is so much more to do,

especially around arts education, which can engage children and transform their academic outcomes. We’ve used flexible, short-term funds so that students in Port Chester can attend arts classes at the Rye Arts Center, and students in Mount Vernon can explore their creativity at the Pelham Arts Center. As the county’s largest funder of technical assistance for local nonprofits, the Foundation provides capacity-building funding that has resulted in more community arts programs for residents of all ages. Lifetime Arts helped ArtsWestchester and the Wartburg Senior Living Center strengthen and expand creative aging programs. The Support Center for Nonprofit Management helped six arts agencies in the county strengthen their priorities as they emerged from the pandemic.

SAY “YES” TO THE ARTS IN WESTCHESTER

In an age of inflation and budget cuts, community arts programs suffer. The Westchester Community Foundation is working to fill the gap. Launched in 2017, the Foundation’s Arts and Creative Expression Fund makes grants today while retaining and investing the corpus so that the fund can grow over time. It serves as an enduring, permanent resource, a much-needed safety net, to secure the future of the arts in Westchester—forever. Contributing to the Arts and Creative Expression Fund lets you say “yes” to a healthy future for the artistic community in Westchester. n

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Saxophonist and National Endowment for the Arts Jazz Master Donald Harrison performs at Jazz Forum Arts in Tarrytown. Photo by Doug Schneider

Grants Newsletter | Fall 2023

YOUR PHILANTHROPY

Giving tools we’re thankful for this season As the year ends, generosity is in full swing, with nonprofits receiving nearly half of their donations from individuals in the final quarter of each year. In this spirit of giving, we’re sharing four top ways New York donors maximize their charitable impact. 1. COMMUNITY NEEDS FUND: AMPLIFY YOUR IMPACT By contributing to our Community Needs Fund, you can support dozens of nonprofits working to address urgent city challenges. This approach saves you time, while our program area experts direct funds to hungry New Yorkers, job training, education for children, housing, care for older adults, and more. When you give to our Community Needs fund, your donation goes directly to nonprofits doing this important work. Join us in meeting New York City’s urgent needs! 2. DONOR-ADVISED FUNDS: EASY AND EXPANSIVE GIVING Many of our donors already use

donor-advised funds, or DAFs. They tell us that DAFs allow them to give exponentially more because they can give a variety of assets when it makes sense for them, and then they can recommend grants to nonprofits all year long.

with a donor-advised fund, because you can get the tax deduction now on the full amount of the charitable gift, while you let the investment returns grow tax-free inside the fund, which allows for larger grants to charities.

Donor-advised funds are like a charitable checkbook that lets you streamline your giving (no more collecting piles of tax receipts), give tax-efficiently (fuel your DAF with appreciated stock), easily suggest and keep track of grants online, allow friends and family to give from (and to) your fund, and access our briefings with issue experts, philanthropic guidance, and more!

4. PUT YOUR IRA QUALIFIED CHARITABLE DISTRIBUTION TO WORK You worked hard building your retirement assets, now it’s their turn to get to work. For those age 70½ or older, donating through an IRA Qualified Charitable Distribution (QCD) can yield tax benefits by satisfying required minimum distributions, reducing adjusted gross income, and avoiding certain tax thresholds.

3. BUNCHING CONTRIBUTIONS: TAX-WISE GIVING Bunching, or consolidating charitable contributions that you would normally make over multiple years, can be a smart way to save on taxes. We recommend talking to your accountant to see if this strategy makes sense for you and your household. Bunching is easy

Remember, your QCD can’t go to donor-advised funds or private foundations. But you can use your QCD to directly support grantees addressing New York’s greatest needs by giving it to our Community Needs Fund (see #1). You also can use your QCD to support a funder collaborative, like our GoVoteNYC fund that gets New Yorkers to the polls. Or you can create a permanent fund that uses our grantmaking staff to identify nonprofits aligned with your values. Contact us to discuss your options— giving@nyct-cfi.org or (212) 6860010 ext. 363. n Leaving a legacy means making lasting change. The foresight and generosity of our legacy donors let us support nonprofits that are creating better futures for all New Yorkers. Scan this QR code to watch the The Trust’s new promotional video, featuring some of our grantees such as Adhikaar (at left).

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NEW YORK MINUTE

Meet a Donor Eleanor Franklin Egan (1879-1925) The Eleanor Franklin Egan Memorial Fund in The New York Community Trust carries out the legacy of this trailblazing writer by supporting the journalists and literary workers of today and tomorrow.

Grants Newsletter | Fall 2023

Nonprofit Org. U.S. Postage PAID Permit No. 1534 Hackensack, NJ

909 Third Avenue, 22nd Floor New York, NY 10022 nycommunitytrust.org

Putting the joy back in generosity

o you love to support nonprofits but dread the ever-growing pile of mail asking for donations? Do you feel like your giving lacks focus and you’re spreading your donations too thin? Our giving experts can help make your generosity feel joyous again. No matter how much you donate, our philanthropic advisors are here for you. They can help you make an impact on the causes most important to you, introduce you to effective organizations not already on your radar, and provide you with the tools to give anonymously and reduce that mountain of mail.

Contact Julia Chang at jtc@nyct-cfi.org or (212) 686-0010 ext. 586, to find out more.

Connect with us! We’d like to hear from you. Please contact us with questions or comments: (212) 686-0010 or info@nyct-cfi.org