NYCT AR2009_final.pdf - The New York Community Trust

CREATING A FUND IN
THE NEW YORK COMMUNITY TRUST
The Resolution and Declaration of Trust
Creating “The New York Community
Trust” (the R&D) is a complete trust
instrument. It sets out in detail the
powers and duties of the Trustee Bank
and the Distribution Committee. In
order to establish a fund in The Trust,
the founding document—whether for a
bequest or a gift during lifetime—must
incorporate the R&D by reference.
An advantage of The New York
Community Trust is that it is not a
private foundation subject to certain
requirements, and the separate
funds that constitute The New York
Community Trust are component
funds of a public charity, not private
foundations. It is important, therefore,
that an instrument designed to create
a new component fund in The Trust
adhere strictly to the provisions of the
R&D; please call us for a copy.
CREATING A FUND IN
COMMUNITY FUNDS, INC.
Community Funds is a New York
State not-for-profit corporation.
As with a fund in The New York
Community Trust, a fund established
in Community Funds becomes part
of a public charity, and is not regarded
as a private foundation. The fund is
held and administered pursuant to the
provisions of the New York Not-for-
Profit Corporation Law, subject to the
Certificate of Incorporation and By-
Laws of Community Funds. Please call
us for a copy.
CREATING A FUND IN OUR LONG
ISLAND OR WESTCHESTER DIVISION
Because the Long Island Community
Foundation and the Westchester
Community Foundation are divisions
of Community Funds, donors have the
same options described above.
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