Creating a Fund

Establishing a fund in The New York Community Trust for your client is a relatively straightforward process.

• Our comprehensive booklet, Creating a Fund Here: Suggested Words and Procedures, provides all the relevant information: The Trust's tax classification letter, descriptive material on the different types of funds, and suggested language to help you draft instruments to provide for gifts to our organization. To get a copy:
  
  • Please fill out this form, or
  • Send us an e-mail, or
  • Call Jane Wilton at 212.686.0010.
    
    
• Or follow our step-by-step instructions to setting up a fund.

Three Important Facts:

1. We are unable to accept a fund unless its terms have been reviewed by us and found acceptable. It is particularly helpful if we review the language before the instrument is executed to ensure that we can meet the donor’s purpose. 
   
   
2. A co-trustee is not permitted under the Resolution and Declaration of Trust Creating "The New York Community Trust."
   
   
3. All our funds enjoy an important advantage: If a change of circumstances makes literal compliance with the terms of the gift instrument "unnecessary, undesirable, impractical, or impossible," our governing body is able to vary them. Donors are assured that their gifts will never become obsolete; they will remain useful to the community in perpetuity.