The New York Community Trust
WE FOSTER AND ENGAGE IN ENDURING AND INNOVATIVE PHILANTHROPY WITH A VISION (SEE SCHEDULE O).
IRS Tax Year 2024
Period ending December 31, 2024
Total Revenue
$322.6M
Total Expenses
$252.3M
Net Assets
$3.4B
Employees
86
Volunteers
42
Grants Paid
$201.5M
Program Expense Ratio
84.3%
Fundraising Efficiency
2369.7%
This nonprofit profile presents IRS Form 990 tax filing data for The New York Community Trust (EIN: 13-3062214), based on the 2024 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, detailed executive pay breakdowns, top independent contractors, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
The New York Community Trust is a 501(c)(3) nonprofit headquartered in New York, NY, founded in 1924. The organization has held tax-exempt status since 1959. In its 2024 filing, the organization reported $322.6M in total revenue, a 14.2% increase from the prior year, and $252.3M in total expenses. The organization employed 86 people and engaged 42 volunteers. AMY FREITAG, PRESIDENT, is the highest-compensated individual at $1,014,261. The organization runs 1 program, totaling $212.6M in program expenses. 5 of 6 recommended governance policies are in place. Executive benefits include club dues.
The New York Community Trust is classified under NTEE code T310. Its foundation type is 15.
Programs(Tax Year 2024)
1 record
The New York Community Trust operates 1 program, with total program expenses of $212.6M. The New York Community Trust's largest program accounts for 100% of total program spending.
OUR COMPETITIVE GRANTS SEEK TO PROMOTE HEALTHY LIVES, EXPAND OPPORTUNITIES, STRENGTHEN FAMILIES, AND CREATE STRONG, VITAL COMMUNITIES. OUR GOVERNING BOARD HAS IDENTIFIED FOUR CATEGORIES OF ACTIVITY TO CARRY OUT THESE OBJECTIVES. THEY ARE SUMMARIZED IN SCHEDULE O.
Financial Overview(Tax Years 2019–2024)
6 records
Over the past 6 years, The New York Community Trust's revenue has grown from $257.6M to $322.6M, a 25.2% increase. Program expenses represent 84% of total spending.
Revenue increased 14.2% year-over-year, while expenses grew 5.8%. net assets rose to $3.4B, up 8.4% from the prior year. the organization added 13 employees.
The New York Community Trust derives 35% from contributions and grants, with 65% from investment income.
Revenue is diversified across investment income (65%), contributions and grants (35%).
The New York Community Trust allocates 84% to programs, 14% to management and general, 2% to fundraising.
Revenue grew by 14.2% while expenses grew by only 5.8%, suggesting improving operational efficiency.
The New York Community Trust distributed $201.5M in grants to other organizations and individuals, representing 80% of total expenses.
Over 6 filings from 2019–2024, The New York Community Trust grew revenue from $257.6M to $322.6M (+25.2%) while maintaining a program expense ratio of 84%. During this period, the organization grew from 71 to 86 employees.
The New York Community Trust holds $3.5B in total assets against $76.0M in liabilities (debt-to-asset ratio of 2%). The organization has 163.7 months of operating reserves. Cash and equivalents of $0 cover approximately 0.0 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2024 | $322.6M | $111.4M | $48K | $0 | $211.1M |
| 2023 | $282.5M | $123.1M | $48K | $0 | $159.3M |
| 2022 | $314.7M | $129.9M | $53K | $0 | $184.7M |
| 2021 | $442.9M | $195.9M | $43K | $0 | $244.5M |
| 2020 | $358.3M | $199.0M | $445K | $0 | $154.2M |
| 2019 | $257.6M | $77.0M | $0 | $0 | $172.9M |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2024 | $252.3M | $212.6M | $35.0M | $4.7M | $201.5M |
| 2023 | $238.4M | $202.9M | $9.3M | $3.9M | $193.1M |
| 2022 | $238.1M | $209.1M | $27.2M | $1.8M | $198.1M |
| 2021 | $287.4M | $258.5M | $27.3M | $1.6M | $247.7M |
| 2020 | $303.3M | $274.1M | $27.7M | $1.5M | $264.0M |
| 2019 | $210.4M | $182.2M | $26.6M | $1.6M | $172.7M |
Program Expense Ratio
84.3%
Admin Expense Ratio
13.9%
Fundraising Efficiency
2369.7%
Operating Reserve
163.7 mo
People & Compensation(Tax Year 2024)
31 records
The New York Community Trust reported compensation for 31 officers and key employees. Total officer compensation was $6.6M, representing 2.6% of total expenses. 4 individuals received total compensation exceeding $500,000.
The New York Community Trust's highest-compensated individual received $1.0M in total compensation. Total officer compensation of $6.6M represents 2.6% of total expenses. 1 individual received total compensation exceeding $1,000,000.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| AMY FREITAG | PRESIDENT | Officer | 45.00 | $885,189 | $0 | $1,014,261 |
| DOMINICK IMPEMBA | COFO & TREASURER | Officer | 45.00 | $481,654 | $0 | $580,992 |
| CARRIE TROWBRIDGE | GENERAL COUNSEL & SECRETARY | Officer | 45.00 | $460,665 | $0 | $525,402 |
| SHAWN V MOREHEAD | VP & ASSISTANT SECRETARY | Officer | 45.00 | $410,196 | $0 | $520,154 |
| REBECCA MANDELMAN | VP & CPO | Officer | 45.00 | $387,387 | $0 | $442,090 |
| TATIANA POHOTSKY | CIO & ASSISTANT TREASURER | Officer | 45.00 | $312,714 | $0 | $377,892 |
| AYANNA RUSSELL | VP & ASSISTANT SECRETARY | Officer | 45.00 | $262,089 | $0 | $359,917 |
| IFRAN HASAN | DEPUTY VP & ASSISTANT SECRETARY | Officer | 45.00 | $238,006 | $0 | $343,098 |
| WEN WENG CPA | CONTROLLER & ASSISTANT TREASURER | Officer | 45.00 | $227,640 | $0 | $327,128 |
| JOHN J ODDY | VP & ASSISTANT SECRETARY | Officer | 45.00 | $261,411 | $0 | $321,284 |
| DAVID OKORN | EXECUTIVE DIRECTOR | Highest Comp | 45.00 | $237,066 | $0 | $316,446 |
| RODERICK JENKINS | SENIOR PROGRAM DIRECTOR | Highest Comp | 45.00 | $194,274 | $0 | $306,638 |
| LAURA ROSSI | EXECUTIVE DIRECTOR | Highest Comp | 45.00 | $211,912 | $0 | $299,757 |
| MARSHA CORCHADO | HUMAN RESOURCES DIRECTOR | Highest Comp | 45.00 | $209,631 | $0 | $263,323 |
| EILEEN CASEY | ASSOC. DR, INVESTMENT OPERATIONS | Highest Comp | 45.00 | $179,822 | $0 | $249,016 |
| MARIE D'COSTA THRU 072024 | VP & ASSISTANT SECRETARY | Officer | 45.00 | $169,694 | $0 | $224,077 |
| KERRY E MCCARTHY THRU 0624 | VP & ASSISTANT SECRETARY | Officer | 45.00 | $156,554 | $0 | $175,802 |
| STEVEN KOCH | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
| JUDITH O RUBIN | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
| BARRON M TENNY | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
| ANN UNTERBERG | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
| OBAID KHAN | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
| MALI SANANIKONE GAW | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
| FERNANDO A BOHORQUEZ | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
| JANE E SALMON MD | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
| KEVIN BYRNE | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
| BRUCE M HOLLEY | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
| MICHAEL MARQUEZ | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
| JAMIE DRAKE | CHAIR | OfficerDirector | 3.00 | $0 | $0 | $0 |
| MARIANA CAMPERO | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
| STEPHEN C ROBINSON | DIRECTOR | Director | 2.00 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
AMY FREITAG
Base Salary
$885,189
Bonus
—
Other Reportable
—
Retirement/Deferred
$105,498
Nontaxable Benefits
$23,574
Executive Perks
DOMINICK IMPEMBA
Base Salary
$481,654
Bonus
—
Other Reportable
—
Retirement/Deferred
$63,258
Nontaxable Benefits
$36,080
Executive Perks
CARRIE TROWBRIDGE
Base Salary
$460,665
Bonus
—
Other Reportable
—
Retirement/Deferred
$60,964
Nontaxable Benefits
$3,773
Executive Perks
SHAWN V MOREHEAD
Base Salary
$410,196
Bonus
—
Other Reportable
—
Retirement/Deferred
$86,384
Nontaxable Benefits
$23,574
Executive Perks
REBECCA MANDELMAN
Base Salary
$387,387
Bonus
—
Other Reportable
—
Retirement/Deferred
$51,507
Nontaxable Benefits
$3,196
Executive Perks
TATIANA POHOTSKY
Base Salary
$312,714
Bonus
—
Other Reportable
—
Retirement/Deferred
$50,022
Nontaxable Benefits
$15,156
Executive Perks
AYANNA RUSSELL
Base Salary
$262,089
Bonus
—
Other Reportable
—
Retirement/Deferred
$79,402
Nontaxable Benefits
$18,426
Executive Perks
IFRAN HASAN
Base Salary
$238,006
Bonus
—
Other Reportable
—
Retirement/Deferred
$88,735
Nontaxable Benefits
$16,357
Executive Perks
WEN WENG CPA
Base Salary
$227,640
Bonus
—
Other Reportable
—
Retirement/Deferred
$80,677
Nontaxable Benefits
$18,811
Executive Perks
JOHN J ODDY
Base Salary
$261,311
Bonus
$100
Other Reportable
—
Retirement/Deferred
$56,100
Nontaxable Benefits
$3,773
Executive Perks
DAVID OKORN
Base Salary
$237,066
Bonus
—
Other Reportable
—
Retirement/Deferred
$63,023
Nontaxable Benefits
$16,357
Executive Perks
RODERICK JENKINS
Base Salary
$194,274
Bonus
—
Other Reportable
—
Retirement/Deferred
$99,026
Nontaxable Benefits
$13,338
Executive Perks
LAURA ROSSI
Base Salary
$211,912
Bonus
—
Other Reportable
—
Retirement/Deferred
$65,385
Nontaxable Benefits
$22,460
Executive Perks
MARSHA CORCHADO
Base Salary
$209,631
Bonus
—
Other Reportable
—
Retirement/Deferred
$29,057
Nontaxable Benefits
$24,635
Executive Perks
EILEEN CASEY
Base Salary
$179,822
Bonus
—
Other Reportable
—
Retirement/Deferred
$52,452
Nontaxable Benefits
$16,742
Executive Perks
MARIE D'COSTA THRU 072024
Base Salary
$147,165
Bonus
—
Other Reportable
$22,529
Retirement/Deferred
$39,804
Nontaxable Benefits
$14,579
Executive Perks
KERRY E MCCARTHY THRU 0624
Base Salary
$152,354
Bonus
—
Other Reportable
$4,200
Retirement/Deferred
$12,376
Nontaxable Benefits
$6,872
Executive Perks
Top Contractors(Tax Year 2024)
5 records
The New York Community Trust reported 5 contractors receiving over $100,000, with total contractor payments of $10.6M.
| Name | Service | Compensation |
|---|---|---|
| JPMORGAN CHASE BANK | TRUSTEE/INVESTMENT ADVISOR | $3,153,583 |
| COMMONFUND CAPITAL | INVESTMENT ADVISOR | $2,329,794 |
| HBK MULTI-STRATEGY OFFSHORE FUND | INVESTMENT ADVISOR | $1,828,228 |
| DAVIDSON KEMPNER CAPITAL MANAGEMENT | INVESTMENT ADVISOR | $1,806,294 |
| THE BANK OF NEW YORK MELLON | TRUSTEE/INVESTMENT ADVISOR | $1,511,348 |
Governance & Compliance(Tax Year 2024)
The New York Community Trust has 5 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 13 members, 13 of whom are independent.
The New York Community Trust's financial statements are audited, an audit committee oversees the process.
Policies & Oversight
Audit & Financial Oversight
Grants Awarded(Tax Year 2024)
2749 records
The New York Community Trust awarded $193.8M across 2748 grants to organizations. Top recipients include YALE UNIVERSITY (NEW HAVEN, CT) — $12.1M for for general support.; THE JOHNS HOPKINS UNIVERSITY (BALTIMORE, MD) — $6.0M for for program support.; ALLIED CLIMATE PARTNERS INC (NEW YORK, NY) — $5.8M for for general support.. The organization also provided grants to individuals (13 recipients) totaling $122K, including fellowships and awards.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| YALE UNIVERSITY060646973 | NEW HAVEN, CT | $12.1M | FOR GENERAL SUPPORT. |
| THE JOHNS HOPKINS UNIVERSITY520595110 | BALTIMORE, MD | $6.0M | FOR PROGRAM SUPPORT. |
| ALLIED CLIMATE PARTNERS INC932878604 | NEW YORK, NY | $5.8M | FOR GENERAL SUPPORT. |
| NEW YORK FOUNDATION FOR THE ARTS INC237129564 | NEW YORK, NY | $4.9M | FOR PROGRAM SUPPORT. |
| THE VISCARDI CENTER111814883 | ALBERTSON, NY | $2.5M | FOR PROGRAM SUPPORT. |
| NEW YORK UNIVERSITY135562308 | NEW YORK, NY | $2.5M | FOR PROGRAM SUPPORT. |
| ACTIVATE GLOBAL INC475502184 | BERKELEY, CA | $2.5M | FOR GENERAL SUPPORT. |
| ENVIRONMENTAL DEFENSE FUND INCORPORATED116107128 | NEW YORK, NY | $2.1M | FOR GENERAL SUPPORT. |
| THE BHUTAN FOUNDATION133376290 | WASHINGTON, DC | $1.8M | FOR PROGRAM SUPPORT. |
| MULTIPLIER912166435 | SAN FRANCISCO, CA | $1.5M | FOR PROGRAM SUPPORT. |
| BEYOND THE BOROUGHS611542985 | NEW YORK, NY | $1.2M | FOR A SCHOLARSHIP AWARD. |
| WNET262810489 | NEW YORK, NY | $1.2M | FOR GENERAL SUPPORT. |
| AMALGAMATED CHARITABLE FOUNDATION INC821517696 | WASHINGTON, DC | $1.0M | FOR PROGRAM SUPPORT. |
| VARIETY CHILD LEARNING CENTER112157326 | SYOSSET, NY | $1.0M | FOR PROGRAM SUPPORT. |
| ROCKEFELLER PHILANTHROPY ADVISORS INC133615533 | NEW YORK, NY | $1.0M | FOR PROGRAM SUPPORT. |
| ADIRONDACK COMMUNITY TRUST161535724 | LAKE PLACID, NY | $1.0M | FOR GENERAL SUPPORT. |
| MEMORIAL SLOAN-KETTERING CANCER CENTER131924236 | NEW YORK, NY | $1.0M | FOR RESEARCH. |
| ECHOING GREEN133424419 | NEW YORK, NY | $1.0M | FOR PROGRAM SUPPORT. |
| OBAMA FOUNDATION464950751 | CHICAGO, IL | $1.0M | FOR PROGRAM SUPPORT. |
| STEPHEN SILLER TUNNEL TO TOWERS FOUNDATION020554654 | STATEN ISLAND, NY | $1.0M | FOR PROGRAM SUPPORT. |
Showing 20 of 2748 grants.
Grants to Individuals
| Type | Recipients | Amount |
|---|---|---|
| FELLOWSHIPS AND AWARDS | 13 | $122K |
Foreign Activities(Tax Year 2024)
Activities span CENTRAL AMERICA AND THE CARIBBEAN, EUROPE (INCLUDING ICELAND & GREENLAND), NORTH AMERICA.
Regions & Countries
| Region / Country | Activity | Expenditure |
|---|---|---|
| CENTRAL AMERICA AND THE CARIBBEAN | — | — |
| EUROPE (INCLUDING ICELAND & GREENLAND) | — | — |
| NORTH AMERICA | — | — |
Supplemental Financial Data(Tax Year 2024)
The New York Community Trust operates a donor-advised fund (DAF) program with 1,342 accounts. The endowment stands at $3.4B, with $111.4M in new contributions.
Filing History(Tax Years 1959–2024)
6 records
Showing the 6 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2024 | 990 | 2024-01-01 – 2024-12-31 | $322.6M | $252.3M | $3.4B |
| 2023 | 990 | 2023-01-01 – 2023-12-31 | $282.5M | $238.4M | $3.2B |
| 2022 | 990 | 2022-01-01 – 2022-12-31 | $314.7M | $238.1M | $2.9B |
| 2021 | 990 | 2021-01-01 – 2021-12-31 | $442.9M | $287.4M | $3.4B |
| 2020 | 990 | 2020-01-01 – 2020-12-31 | $358.3M | $303.3M | $3.1B |
| 2019 | 990 | 2019-01-01 – 2019-12-31 | $257.6M | $210.4M | $2.9B |
| 1959–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does The New York Community Trust do?
WE FOSTER AND ENGAGE IN ENDURING AND INNOVATIVE PHILANTHROPY WITH A VISION (SEE SCHEDULE O).
How much revenue does The New York Community Trust have?
The New York Community Trust reported $322,622,907 in total revenue for tax year 2024, up 14.2% from the prior year.
Who is the highest-paid executive at The New York Community Trust?
AMY FREITAG, PRESIDENT, received $1,014,261 in total compensation as of tax year 2024.
Is The New York Community Trust a 501(c)(3)?
Yes, The New York Community Trust is classified as a 501(c)(3) tax-exempt organization.
Where is The New York Community Trust located?
The New York Community Trust is headquartered in New York, NY 10022.
How many employees does The New York Community Trust have?
The New York Community Trust has 86 employees and 42 volunteers as of tax year 2024.
Is The New York Community Trust audited?
Yes, The New York Community Trust's financial statements are audited, and the organization has an audit committee.
How much does The New York Community Trust spend on fundraising?
The New York Community Trust reported $4,703,123 in fundraising expenses for tax year 2024, which represents 1.9% of total expenses.
Does The New York Community Trust give grants?
Yes, The New York Community Trust distributed $201,499,581 in grants to other organizations and individuals in tax year 2024. Top recipients include YALE UNIVERSITY, THE JOHNS HOPKINS UNIVERSITY, ALLIED CLIMATE PARTNERS INC.
Does The New York Community Trust operate internationally?
Yes, The New York Community Trust conducts activities outside the United States. Activities span CENTRAL AMERICA AND THE CARIBBEAN, EUROPE (INCLUDING ICELAND & GREENLAND), NORTH AMERICA.
Data Source
Prepared by: GRANT THORNTON ADVISORS LLC, NEW YORK, NY
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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