Grants WINTER 2024 NEWSLETTER The Fight for Universal Child Care Just Got Real WHAT’S INSIDE When financial advice is life advice Cash grants help city migrants page 13 page 7 page 4
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.
We’d like to hear from you.
Please contact us with questions or comments: (212) 686-0010 or info@nyct-cfi.org
We build stronger communities, influence public policy, foster innovation, improve lives, and protect our environment. Inspired by what you read here?
Join us. Make a difference. Give to the nonprofits in these pages directly or through your fund in The Trust.
Renowned designer, philanthropist, and long-serving board member Jamie Drake began his appointment as chair of our board on January 1, 2024.
The NYPD honored board member Judge Stephen Robinson for his service “safeguarding the rights of all.” The Dominican Sisters of Hope honored the Westchester Community Foundation, and Latina Sisters Support honored Sol Marie Alfonso-Jones, program director for the Long Island Community Foundation.
Arturo Garcia-Costas, senior program officer for the environment, spoke at a White House workshop on the Inflation Reduction Act, a virtual U.S. congressional briefing, the Urban Future Prize Competition, and the Ford Center for Social Justice. John Oddy, vice president for donor relations, spoke at the 2023 DAF Giving Summit. Salem Tsegaye, program officer for the arts, spoke at Grantmakers in the Arts and Chamber Music America.
Congrats... Recommendations from our staff
Paved Paradise: How Parking Explains the World by Henry Grabar
Recommended by Amy Freitag, president: “Henry Grabar, a Brooklyn native, looks at the built world through the lens of parking—it's an incredibly insightful and often hilarious read! Maybe take it with you on your next alternate side adventure.”
Demon Copperhead by Barbara Kingsolver
Recommended by Shawn Morehead, vice president for grants: “I loved Barbara Kingsolver's latest book. It is set in Appalachia, where we make several grants each year—thanks to legacy funds created by donors to help this part of the country.”
Rustin on Netflix
Recommended by Diana Gordon, philanthropy officer: “Directed by George C. Wolfe, this film chronicles the activism of an unsung hero of the civil rights movement, Bayard Rustin, whose remarkable story had been omitted from the narrative because he was openly gay.”
WELCOME nycommunitytrust.org 2
ON THE COVER: Nolan, a young activist, at the recent launch of the New Yorkers United for Child Care effort in Brooklyn. Photo by Amy Wolf
Addressing the affordable housing crisis
For many New Yorkers, the American dream— where working a good job eventually leads to homeownership—feels out of reach. And some who already own homes struggle to keep them.
While typical annual household incomes in New York City are well above the national average, so are the costs of homeownership. For lower-wage earners, the prospect of owning a home can feel unrealistic due to high interest rates, widespread real-estate speculation, and an extremely limited supply of affordable housing.
“Black and Latinx homeowners are particularly vulnerable,” said Chantella Mitchell, program officer for community development, housing, and human services at The Trust. “They have lower incomes on average than white homeowners, and they tend to pay higher interest rates and financing fees, all of which causes them to be more burdened by housing costs.”
One stark example: 22,700 Black homeowner households in Queens lost their homes between 2002 and 2017. Many were victims of predatory lending practices or tax lien sales that disproportionately target Black communities, allowing investors to profit from the financial struggles of older Black homeowners.
As rising housing costs push out homeowners of color, investors are moving in, making it more difficult for New Yorkers to reap the benefits of homeownership—such as creating a stable living environment and building equity.
Owner-occupied small homes are a critical part of the rental housing stock in New York City. In fact, landlords are a significant source of affordable rent as we face an unprecedented housing affordability crisis.”
- Chantella Mitchell, program officer
To make ends meet, many homeowners opt to rent out space, which can provide affordable rents for tenants while helping pay owners’ mortgages.
“Owner-occupied small homes are a critical part of the rental housing stock in New York City,” Mitchell said. “In fact, landlords are a significant source of
affordable rent as we face an unprecedented housing affordability crisis.”
But when landlords default on their mortgage, tenants may face the burden of either being displaced or paying significantly higher rent if the home is resold at an inflated price.
The Trust helps nonprofits like the Center for New York City Neighborhoods and Neighborhood Housing Services of Queens address these issues.
The Center is using a recent Trust grant to advocate for a statewide program to provide one-time financial assistance to homeowners.
With a track record of successfully distributing $279 million in federal funds to help homeowners tackle hardships related to COVID-19, the nonprofit will use a new Trust grant to work with advocates, homeowners, and elected officials to draft and champion legislation for a permanent mortgage assistance program.
Neighborhood Housing Services of Queens is using a Trust grant to provide homeowners and renters in central and western Queens with one-on-one counseling and financial incentives to prepare for emergency home expenses.
“Ultimately, our grants will allow these organizations to continue supporting our city’s lowand moderate-income homeowners as they fight to preserve their equity and provide a home for their families and their neighbors,” Mitchell said. n
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Grants Newsletter | Winter 2024
NYC FOCUS
Neighborhood Housing Services of Queens offers courses in digital literacy—an essential skill for navigating the affordable housing process and provides laptops to program graduates.
The fight for universal child care in New York State just got real
Amid rising rent, food and transportation costs, and other expenses, many new parents face the question of whether or not they can afford child care in New York City.
When the answer is “no,” in most cases, women make the sacrifice. Here in New York, women who earn an annual income of $57,000 and leave the workforce for just three years stand to lose nearly half a million dollars’ worth of wages in their lifetimes.
For a family without access to affordable child care, this can lead to a difficult decision—whether to stay in the city and spend at least
$20,000 per year on child care, or leave. And this begs the question: can New York afford to continue to drive out young families seeking a lower cost of living?
UNIVERSAL CHILD CARE
Universal child care in New York City currently takes the form of 3-K and Pre-K for All programs that offer free, high-quality child care for all three- and four-yearolds. By providing early childhood classrooms, these programs help women return to the workforce, increase family savings, and keep many children safer, healthier, and better prepared to learn.
It’s an example of market failure, and it is a big driver of both the genderbased wage gap and the city’s growing affordability crisis.”
- Leigh Ross, program officer
nycommunitytrust.org 4 GRANTS AT WORK
Cosmo, age 5, attended an event to kick off the New Yorkers United for Child Care campaign with his family.
Photo by Amy Wolf
However, the city paused the roll-out of universal 3-K last year, which, combined with its projected hundreds of millions of dollars in cuts to the program, leaves many families and would-be parents rethinking future plans.
Child Care, composed of more than 100 member-organizations. Backed by funding from The Trust, the Campaign pressed the state to streamline and expand eligibility for the child-care voucher application process. Now
The time has always been right for child care in New York, but now pre-K and 3-K are at risk of being gutted by government budget cuts—just when we should be expanding them.”
- Rebecca Bailin, executive director, New Yorkers United for Child Care
vouchers to families making 85% of the state median income.
By lending their voices to campaigns like the one led by New Yorkers United for Child Care, local families can take this advocacy to the next level. In its efforts to mobilize the city’s parents and would-be parents, the organization is petitioning for signatures, organizing rallies and strategy meetings, and meeting with elected officials to hold leaders politically accountable.
HOW YOU CAN HELP
“Families are paying way more than they can afford, providers have razor-thin profit margins, and employees make extremely low wages,” said Leigh Ross, The Trust’s program officer for girls and young women, early childhood education, and arts education. “It’s an example of market failure, and it is a big driver of both the genderbased wage gap and the city’s growing affordability crisis.”
WHY NOW IS THE TIME
The Trust helped New Yorkers United for Child Care, a new organization, galvanize local families to advocate for free, high-quality, full-day, and year-round child care for all children under age five.
“The time has always been right for child care in New York, but now pre-K and 3-K are at risk of being gutted by government budget cuts— just when we should be expanding them,” said Rebecca Bailin, the organization’s executive director. “This is an existential moment for our city and state and New Yorkers are ready to fight to preserve what we have—and expand it.”
In 2017, the Schuyler Center for Analysis and Advocacy launched the Empire State Campaign for
it is pushing for the creation of a fully universal child care system statewide.
“New York has a unique opportunity to lead the way in creating a robust, high-quality universal child care system that meets the needs of all families,” said Ross. “We’ve already made a strong start with universal prekindergarten, but we can do more—and if we do, it could have profound implications, not only for local families, but for the city’s economy as a whole. And philanthropy can help by supporting innovative research, advocating for policy changes, and investing in grassroots organizing,” she said.
Recently, local advocates, including grantees United Neighborhood Houses and the Day Care Council, convinced the city to add $15 million to the budget to convert nearly 1,900 school-day child care seats to much-needed extended-day seats. New York State’s 2024 budget invests $500 million to create a state Workforce Retention Grant Program to support New York’s child care workforce. In addition, the budget expands eligibility for child-care
“We need donors’ support. We need as much as you can give, because this is how we’re going to win— through community organizing. Ultimately, child care for all is a common good and is also good for our city,” said Bailin.
Consider supporting universal childcare for New York’s families by making a donation to one of the featured organizations, or contacting our philanthropic advisors at giving@nyct-cfi.org. n
THE TRUE COST OF CHILD CARE
● Families pay $20,000 to $40,000 per year per child for child care, on average.
● 82% of those missing work for child care reasons are women.
● Black and multiracial parents had to quit a job or turn down job opportunities due to child care challenges at twice the rate of white parents.
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Grants Newsletter | Winter 2024
A Q & A with immigrant rights advocate
Tania Mattos
Immigrants facing deportation do not have a right to an attorney in the U.S. They must either represent themselves, pay for an attorney, or find free legal help. The demand for immigration legal aid attorneys is far greater than the supply. To address this gap, a coalition of nonprofits, with funding from The Trust and the Robin Hood Foundation, created the Pro Se Plus Project to train people to represent themselves in immigration court. The coalition includes African Communities Together, Catholic Migration Services, Central American Legal Assistance, Masa, New York Legal Assistance Group, UnLocal, and Venezuelans and Immigrants Aid.
Tania Mattos is the interim executive director of UnLocal. She spoke with The Trust about the collaborative and her experience as an advocate.
There’s no rule book for activism.”
How does the Pro Se Plus Project work?
The coalition wanted to help as many people as possible and also knew they couldn’t represent thousands of people in court. So they decided to develop systems to help immigrants represent themselves—“pro se” means to represent oneself.
Immigration law is very complicated, and even more so for someone who just arrived to a new system and a new country. So, we found a way to help people help themselves—to become citizens of the United States, win their asylum claims, apply for Temporary Protected Status, or gain the right to work. We built out a model that’s been very successful: in the first year, we provided pro se application assistance to close to 3,000 people.
Can you share a success story from the program?
A Catholic Migration Services client faced the possibility of deportation and there wasn’t an attorney available to take his case. Instead, they helped him gather materials for an evidence packet in advance of the hearing and explained what to expect in court. They also shared training videos we made to prepare asylum applicants to represent themselves. He watched the videos, and he did everything perfectly. At his hearing, he won
protection from deportation. The judge congratulated him on how well he prepared and presented his case. Now he’s working with the nonprofit to help others do the same.
How did you get involved in immigrant rights work?
I was born in Bolivia and grew up undocumented in Jackson Heights, Queens. I got tired of waiting for action to happen and joined the New York State Youth Leadership Council. I’ve worked on the federal and state DREAM Acts (legislation to permanently protect certain immigrants who came to the U.S. as children but are vulnerable to deportation), and I was a founding member of the Abolish ICE NY NJ coalition, which ended detention in New Jersey, for the most part, and we’re trying to do the same in New York. (ICE refers to U.S. Immigration and Customs Enforcement.)
Do you have advice for young people who are interested in becoming advocates?
If you’re passionate about something, or something impacts your life in a big way, find people who also care about the situation and plan what you can do together. There’s no rule book for activism. If you're fighting for your freedom and for your life, you do what you have to do. n
nycommunitytrust.org 6
FIRST PERSON
Cash grants help city migrants
Over 150,000 migrants have arrived in the city since spring 2022, and local nonprofits are rising to the occasion to meet these newcomers’ urgent needs.
Since 2022, The Trust has made more than $2.7 million in grants to nonprofits serving immigrants, with a focus on those who are newly arrived and living in shelters. These grants address newcomers’ legal, employment, and health care needs, and provide food and cash assistance.
The Havens Relief Fund Society, founded in 1871, engages a network of volunteer community leaders and professionals, known as “almoners,” to make one-time emergency grants to at-risk individuals and families in New York City. With a Trust grant, the Society established its Migrant Emergency Relief Fund to provide financial assistance for immigrants who have been in the city for less than one year.
The Society’s mission dates back to its founder, Charles Gerard Havens, who tested the idea of intervening at a crucial moment with cash assistance for low-income New Yorkers. Today, the Society’s network of more than 150 almoners is embedded in schools, hospitals, domestic violence shelters, legal aid providers, and community organizations in each of the five boroughs.
“The Havens model fills in painful gaps that case managers and others working with people in need can’t usually fill,” said Eve Stotland, The Trust’s senior program officer for education and human justice. “It’s discouraging to work with someone who is telling you what they need, and you can’t offer them the one thing
that is most important and most acute.”
The one-time grants can have ripple effects. For example, cash for a sewing machine allowed a survivor of domestic violence to generate the income needed to remain in a safe new apartment with her children.
“We understand that a $400 or $500 cash grant isn’t necessarily going to change somebody’s trajectory out of poverty—but it will relieve the stress of the moment,” said Allison McDermott, Havens’ executive director. “And we have seen very impactful grants that really have changed lives. It’s pretty amazing the difference a small amount of financial assistance at the right time can make.”
Havens’ almoners used the Migrant Emergency Relief Fund to help newcomers with a range of needs over the past year—from buying toiletries and clothing to providing medical treatment for a mother diagnosed with cancer after arriving in New York. An almoner based at a city school purchased food and clothing for newly arrived students who were living in shelters. Almoners also bought work boots and other items needed for Occupational Safety and Health Administration training, helping newcomers get closer to obtaining employment.
“I find the work our almoners do so inspiring,” McDermott said. “Although in this time of great need they may feel overwhelmed and under-resourced, they also feel the call to rise to the moment and welcome new New Yorkers in the same way that New York has welcomed waves of immigrants before.” n
7 GETTING RESULTS
Grants Newsletter | Winter 2024
Attorneys participating in the Pro Se Plus Project provide free legal help to recently arrived migrants. Photo courtesy of New York Legal Assistance Group
LONG ISLAND
Nonprofits step up as inflation creates dire need
Inflation has amplified the economic challenges faced by many Long Islanders.
A recent study commissioned by the Suffolk County Legislature found that roughly 20% of Long Islanders are considered ‘structurally poor’—with 19% of Nassau residents and 26% of Suffolk residents unable to keep pace with the rising costs of essentials.
“While these numbers are alarming, they don’t tell the full story of what many residents experience each day,” said Marie Smith, director of donor relations and communications for the Long Island Community Foundation. “People are struggling, so it’s critical that the Foundation support organizations working to address these issues.”
PUTTING FOOD ON THE TABLE
That work starts with addressing widespread food insecurity.
About 230,000 Long Islanders— including an estimated 68,000 children—experienced nutritional insecurity in the past year. In the face of this urgent problem, the Foundation helped nonprofits working to provide residents in need with ready and consistent access to healthy foods.
Some of the funding is aimed at making sure children get the food and nutrition they need. For instance, Community Food Advocates and Heart of the Hamptons received grants to increase access to school meals for children through advocacy and direct services.
Community Action Southold Town will provide case management and wraparound services, including benefit applications and referrals to housing and employment opportunities, for East End residents in need. Meanwhile, Lighthouse Mission Outreach will focus on mobile food distribution by ensuring that those without transportation can access food pantries. The nonprofit also will
nycommunitytrust.org 8
Services for the Underserved connects Long Islanders with long-term housing solutions.
Photo courtesy of Services for the Underserved
distribute toiletries and clothing to 120,000 individuals in need across Suffolk County.
LOW INVENTORY, HIGH RENT
The lack of affordable housing is another pressing challenge fueled by inflation. Increased interest rates and persistently low housing inventory has made it difficult for many to purchase a home. Renters also face a shortage of apartment space and rising rents.
In response, the New York Communities Organizing Fund is working to increase housing stability for renters in Hempstead. A Trust grant will expand the group’s reach by hiring a Spanishspeaking organizer to grow membership among Latinx tenants,
work with tenant associations, and empower tenants to advocate for state policies that protect low-income renters from unjust evictions.
Services for the Underserved is helping chronically homeless families find and maintain stable housing after the expiration of pandemic housing benefits. It is connecting at least 80% of Long Island families enrolled in the Rapid Rehousing Program to longterm emergency housing vouchers and helping families leave shelters for permanent housing.
ADDRESSING MENTAL HEALTH
Mental health issues underlie many of these economic challenges. Yet more than 124,000 people in the
region lack health insurance and consistent access to treatment. To fill this gap, the Foundation supports nonprofits that connect people to effective counseling and other mental health treatments.
For instance, funding will help the Family and Children’s Association connect individuals and their families struggling with mental health issues to appropriate treatment and support, while Northwell Health will coordinate mental health assessments and services through schools. n
Below, Community Food Advocates holds an event in support of its Healthy School Meals for All NY Kids Campaign. Providing free meals for all students, regardless of income, is proven to improve students’ mental and physical health and academic success. Photo courtesy of Community Food Advocates
BY
(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
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
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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
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DEDICATED TO THE CHARITABLE PURPOSE MAY BE OBTAINED FROM THE ATTORNEY GENERAL OF THE STATE OF NEW JERSEY
West Virginia: West Virginia residents may obtain a summary of the registration and financial documents from the Secretary of State, State Capitol, Charleston,
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 | Winter 2024
RECEIVED BY THE CHARITY DURING THE
REPORTING PERIOD THAT WERE
CALLING
obtained from the Pennsylvania Department of State by calling toll-free,
Charities Program at 1-800-332-4483, or www.sos.wa.gov/charities.
WV 25305. Wisconsin:
Westchester Community Foundation tailors strategies to honor donor intent
In 2023, the Westchester Community Foundation developed grantmaking strategies for two new permanent funds to address pressing needs in early childhood education and Indigenous communities.
To honor the Katherine C. and David E. Moore Fund for Education’s goal of improving early childhood education, the Foundation set out to understand the early childhood landscape for Westchester children. With a specific focus on the experiences of children ages 5 and under, the Foundation met with Westchester providers to understand their priorities, challenges, and needs. It also reviewed local policy priorities and broader statewide efforts for early childhood services and programs.
“These conversations were critical,” said Lauren Perkins, a Westchester program officer. “They outlined the extraordinary challenges facing both families and child care providers across the county.”
Those the Foundation spoke with emphasized two primary concerns: constraints in recruiting and retaining a skilled workforce, and the high cost of child care in Westchester. Equitable access to affordable child care is a key priority in the county’s economic recovery from the pandemic, yet providers operate on extremely narrow profit margins and struggle to keep their doors open.
To improve local child care, the Foundation will use the Moore Fund to seed innovative approaches to sustaining quality services, strengthen the county’s network of providers, and fill critical service delivery gaps. As a complement
to the advocacy underway for increasing public investment in early childhood programs, the Foundation’s grantmaking strategy also will fund initiatives to help child care providers serve more families, work with parents and caregivers to ensure equitable access to high-quality care, and support advocacy for policies that address challenges facing Westchester’s families and early childhood providers.
A NEW FUND FOR NATIVE AMERICANS
Another example of tailoring a grantmaking strategy to meet pressing needs came via the Mortimer Fund for Native American Children, established through the bequest of Harry Mortimer, who was a resident of New Rochelle.
“As an outside entity, we recognized that we had knowledge gaps,” Perkins said. “Our advisory board and staff participated in trainings to better understand individual Tribal histories, organizations, and laws.”
The Foundation also reached out to federally recognized Native Nations and Native-led organizations serving Native youth to understand the landscape of needs and priorities in New York State and across the diaspora of Indigenous Lenape people whose communities historically occupied the lands of Westchester County.
This research led the Foundation to develop a grantmaking approach focused on equitable opportunities for Native youth to reach their full potential, exercise their self-determination, and create community solutions that incorporate their distinct culture,
values, history, language, and community priorities.
Through the Mortimer Fund, the Foundation will prioritize projects operated by Native Nations and Native-led nonprofits that address the needs of Native youth, and projects that set out to launch and test the efficacy of new ideas.
The Foundation also recently awarded grants to the Seneca Nation of Indians to help revitalize Seneca language instruction for young children and their teachers, and to the Shinnecock Indian Nation to build capacity and develop programs at the Boys & Girls Club.
“Words are helpful in the beginning,” Perkins said. “But action is required to achieve mutuality. Our hope is that through the Mortimer Fund, we can continue to learn and build meaningful relationships with Native communities.” n
CREATE YOUR OWN PERMANENT FUND
Anyone can create a permanent fund that addresses issues or causes of their choice with The Trust. Most often, donors create these funds in their wills or by bequest to support grantmaking into the future. To learn more, visit giveto.nyc.
At right, a recent grant from the Katherine C. and David E. Moore Fund for Education is helping All Our Kin improve the educational offerings and operations of home-based child care providers in Westchester. Photo courtesy of All Our Kin
nycommunitytrust.org 10 WESTCHESTER
11 Grants Newsletter | Winter 2024
Betty Yu, Mom Halfway in the Hallway, 2019 Photo was featured in Volume 24, Issue 1 (2020) of En Foco's photographic journal,
Betty Yu is a Chinese American multimedia artist born and raised in New York City and a fellow at En Foco, a Trust grantee that celebrates the work of U.S.-based photographers of African, Asian, Latinx, Native American, and Pacific Islander heritage. En Foco’s Nueva Luz journal explores overlooked social and cultural issues through photography.
Mom Halfway in the Hallway is from Yu’s multimedia project, (Dis)Placed in Sunset Park, which takes an intimate look at the impact of accelerated gentrification through photography, audio, and video of her family’s life in the predominantly Chinese and Latinx neighborhood.
nycommunitytrust.org 12
Nueva Luz.
When financial advice is life advice
LISA RISPOLI
Lisa Rispoli is the partner-in-charge of Trust & Estate Services at Grassi, an advisory and accounting firm based on Long Island. For 30 years she has worked with clients and their professional advisors to develop estate plans to transfer family, business, and personal wealth to the next generation and charitable organizations. She is president of the New York City Estate Planning Council and was named to Crain’s New York’s list of Notable Women in Accounting and Consulting. She is a proud Long Islander who can’t live without the beach, and she shares homes with her family in Rockville Centre and Southampton.
“Over the years, I helped build Grassi’s Trust & Estate department from a few employees to more than 25 advisors who handle estates of all kinds. In addition to basic estate planning, we’re also helping people sell businesses, manage an inheritance, or deal with complicated assets. Our services allow some clients to avoid probate, and in other cases, we’re providing the administration needed to resolve contested estates in court.
My favorite part of the job is seeing how our services help make people’s lives better. For example, I’ve helped owners and operators of construction firms plan before and after the sale of their businesses. It’s a huge transition to go from working 14-hour days, getting up at the crack of dawn, and working weekends to retiring with considerable time and a large sum of money on their hands. We don’t advise our clients on tax implications only; we are guiding folks through family, charitable, planning, and even health considerations. These are not easy topics— that’s why this holistic process is centered on helping people make decisions that avoid unnecessary conflict, regrets, or hurt.
who doesn’t talk down to them. I’m able to help them understand the assets they have and talk through their choices. I had one client who was worth $160,000,000 but had no idea until her husband passed away. It takes a lot of trust to let someone handle that much money for you.
For many of my clients, charitable giving is both smart tax planning and something they’re eager to do—but they may be new to it. They’ve spent years growing their fortunes, and now it’s time to give some of it away, but how?
I like the foundation because of their hightouch relationship with clients and their local, personalized approach.”
- Lisa Rispoli
I have a special place in my heart for helping widows and other women who don’t have experience with financial strategies. I am someone they can trust and
I refer many clients to the Long Island Community Foundation, a division of The New York Community Trust, for their charitable giving decisions. I like the foundation because of their high-touch relationship with clients and their local, personalized approach. They work in the same holistic, hands-on way with my clients to carry out their charitable goals, whatever they may be. I often recommend creating a donor-advised fund (or DAF). The client gets the maximum deduction and can decide where to give later. A DAF is much easier to manage than a private foundation. The client can still have their name on the DAF, which is important to a lot of people, and it eliminates the need for all the paperwork a foundation demands.” n
13 FROM THE DESK OF...
Grants Newsletter | Winter 2024
Photo courtesy of Grassi
Why we love community foundations
It’s no secret that we think community foundations are powerhouses of meaningful change. But what makes community foundations different?
We think it’s that community foundations are uniquely poised to bring about powerful local change, provide a range of ways for everyone to engage in the joy of giving, and collaborate with local partners to help our region thrive.
What does it mean to be part of a community foundation?
For our staff and board, it means meeting the needs of the diverse communities in New York City, Long Island, and Westchester. We apply our deep expertise in a range of issues and our connections with local nonprofits, grassroots organizers, and government agencies to provide strategic support that effects positive change. Along the way, we get to learn from, and be inspired by, our grantees and our donors.
Our grantees appreciate that we develop lasting relationships with the nonprofits and communities
that dedicate their daily work to building a more equitable and thriving region. Because we’re local, we can visit programs in person and talk with participants and staff. We also can gather groups of nonprofits with complementary missions so they can join forces to address their fields’ most daunting challenges together. Local nonprofits know that The Trust is ready to take a bet on a promising new project, respond quickly in times of crisis, and offer the consistent support and partnership that comes from being neighbors. They also count on our financial fuel to advance advocacy for systemic changes critical to building better communities
What does being part of a community foundation mean for donors? One of our favorite answers to that question is that at a community foundation, everyone can participate in philanthropy. Whether you give a dollar to one of our community needs funds, attend a webinar with our grantmakers, or plan an estate gift, we’re here to
maximize your impact and help you make a difference in the causes you care about.
Community foundations offer tax advantages and personalized services that can create a seamless giving process. Some donors choose to start a fund at The Trust by giving cash, stock, real estate, or other assets. Others make one-step online contributions to our community needs funds, which support nonprofits meeting urgent needs in New York City, Westchester, and Long Island. Our philanthropic and issue area experts are ready to help donors match their interests in the arts, education, health care, and other causes with effective and carefully vetted nonprofits. n
What does being part of a community foundation mean to you? Whether you’re a donor, grantee, or friend of The Trust, email us your thoughts at giving@nyct-cfi.org.
nycommunitytrust.org 14 YOUR PHILANTHROPY
Grantee Cool Culture connects families with arts and culture opportunities throughout the city. Photo courtesy of Cool Culture
NEW YORK MINUTE
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1933 1944 1967 1978 2003 ? 2024 2016 The Trust's corporate identity has projected stability and constancy over decades. In this centennial year, we will unveil a rebranded identity that reflects the dynamism of our region, conveys our personal touch, and clearly unifies our work across eight counties.