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Nonprofiteer
← THE NEW YORK COMMUNITY TRUST

Form 990 for tax year 2022

Filed by THE NEW YORK COMMUNITY TRUST.

Totals

Total revenue
$314,675,691
Total expenses
$238,086,890
Contributions and grants received
$129,949,678
Grants paid
$198,055,982
Program services expenses (Part IX)
$209,073,781
Management and general expenses
$27,174,964
Fundraising expenses
$1,838,145
Program service expenses (Part III)
$209,073,781

Program services were 87.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Lorie A Slutsky

    President (Thru 7/22)

    Total calculated
    $918,560
    From this org
    $784,355
    From related orgs
    $0
    Other
    $134,205
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $462,256
    Bonus
    $60,000
    Other
    $262,099
    Deferred
    $123,574
    Nontaxable benefits
    $10,631
    Filer's total
    $918,560

  • Amy Freitag

    President (as of 7/22)

    Total calculated
    $468,324
    From this org
    $407,064
    From related orgs
    $0
    Other
    $61,260
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $403,997
    Bonus
    not reported
    Other
    $3,067
    Deferred
    $44,847
    Nontaxable benefits
    $16,413
    Filer's total
    $468,324

  • Kerry E McCarthy

    VP & Asst. Secy

    Total calculated
    $443,784
    From this org
    $310,912
    From related orgs
    $0
    Other
    $132,872
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $307,377
    Bonus
    not reported
    Other
    $3,535
    Deferred
    $99,019
    Nontaxable benefits
    $33,853
    Filer's total
    $443,784

  • Shawn V Morehead

    VP & Asst. Secy

    Total calculated
    $436,518
    From this org
    $333,083
    From related orgs
    $0
    Other
    $103,435
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $329,082
    Bonus
    not reported
    Other
    $4,001
    Deferred
    $74,406
    Nontaxable benefits
    $29,029
    Filer's total
    $436,518

  • Carrie Trowbridge

    General Counsel & Secy

    Total calculated
    $428,366
    From this org
    $380,607
    From related orgs
    $0
    Other
    $47,759
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $373,476
    Bonus
    not reported
    Other
    $7,131
    Deferred
    $41,557
    Nontaxable benefits
    $6,202
    Filer's total
    $428,366

  • Tatiana Pohotsky

    CIO & Asst. Treasurer

    Total calculated
    $348,614
    From this org
    $282,961
    From related orgs
    $0
    Other
    $65,653
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $282,313
    Bonus
    not reported
    Other
    $648
    Deferred
    $43,400
    Nontaxable benefits
    $22,253
    Filer's total
    $348,614

  • Marie D'Costa

    VP & Asst. Secy

    Total calculated
    $305,766
    From this org
    $220,761
    From related orgs
    $0
    Other
    $85,005
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $218,233
    Bonus
    not reported
    Other
    $2,528
    Deferred
    $52,359
    Nontaxable benefits
    $32,646
    Filer's total
    $305,766

  • Carolyn M Weiss CPA

    CFO & Treasurer (Thru 9/22)

    Total calculated
    $293,974
    From this org
    $219,386
    From related orgs
    $0
    Other
    $74,588
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $216,463
    Bonus
    not reported
    Other
    $2,923
    Deferred
    $49,835
    Nontaxable benefits
    $24,753
    Filer's total
    $293,974

  • Ayanna Russell

    VP & Asst. Secy (as of 4/22)

    Total calculated
    $289,207
    From this org
    $205,137
    From related orgs
    $0
    Other
    $84,070
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $204,255
    Bonus
    not reported
    Other
    $882
    Deferred
    $55,488
    Nontaxable benefits
    $28,582
    Filer's total
    $289,207

  • John J Oddy

    VP & Asst. Secy

    Total calculated
    $283,753
    From this org
    $231,129
    From related orgs
    $0
    Other
    $52,624
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $228,601
    Bonus
    not reported
    Other
    $2,528
    Deferred
    $46,047
    Nontaxable benefits
    $6,577
    Filer's total
    $283,753

  • Irfan Hasan

    Deputy VP & Asst. Secy

    Total calculated
    $279,636
    From this org
    $196,238
    From related orgs
    $0
    Other
    $83,398
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $193,710
    Bonus
    not reported
    Other
    $2,528
    Deferred
    $65,012
    Nontaxable benefits
    $18,386
    Filer's total
    $279,636

  • David Okorn

    LICF Executive Director

    Total calculated
    $274,836
    From this org
    $207,134
    From related orgs
    $0
    Other
    $67,702
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $204,606
    Bonus
    not reported
    Other
    $2,528
    Deferred
    $49,206
    Nontaxable benefits
    $18,496
    Filer's total
    $274,836

  • Martin Lipp

    Director of Communications

    Total calculated
    $268,947
    From this org
    $191,258
    From related orgs
    $0
    Other
    $77,689
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $183,790
    Bonus
    not reported
    Other
    $7,468
    Deferred
    $47,711
    Nontaxable benefits
    $29,978
    Filer's total
    $268,947

  • Laura Rossi

    WCF Executive Director

    Total calculated
    $264,298
    From this org
    $185,534
    From related orgs
    $0
    Other
    $78,764
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $183,006
    Bonus
    not reported
    Other
    $2,528
    Deferred
    $51,230
    Nontaxable benefits
    $27,534
    Filer's total
    $264,298

  • Wen Weng CPA

    Controller & Asst. Treasurer

    Total calculated
    $258,713
    From this org
    $176,998
    From related orgs
    $0
    Other
    $81,715
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $173,646
    Bonus
    $2,000
    Other
    $1,352
    Deferred
    $50,772
    Nontaxable benefits
    $30,943
    Filer's total
    $258,713

  • Patricia Swann

    Program Director

    Total calculated
    $257,374
    From this org
    $167,727
    From related orgs
    $0
    Other
    $89,647
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $156,174
    Bonus
    $5,000
    Other
    $6,553
    Deferred
    $71,528
    Nontaxable benefits
    $18,119
    Filer's total
    $257,374

  • Roderick Jenkins

    Program Director

    Total calculated
    $231,838
    From this org
    $155,554
    From related orgs
    $0
    Other
    $76,284
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $147,290
    Bonus
    $2,000
    Other
    $6,264
    Deferred
    $68,185
    Nontaxable benefits
    $8,099
    Filer's total
    $231,838

  • Mercedes Leon

    VP & Asst. Secy. (Thru 3/22)

    Total calculated
    $180,119
    From this org
    $145,165
    From related orgs
    $0
    Other
    $34,954
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $126,451
    Bonus
    $15,000
    Other
    $3,714
    Deferred
    $30,457
    Nontaxable benefits
    $4,497
    Filer's total
    $180,119

  • Leisle Lin

    CFO & Treasurer (as of 9/22)

    Total calculated
    $159,449
    From this org
    $132,639
    From related orgs
    $0
    Other
    $26,810
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $132,007
    Bonus
    not reported
    Other
    $632
    Deferred
    $24,329
    Nontaxable benefits
    $2,481
    Filer's total
    $159,449

  • Valerie S Peltier

    Chair

    Total calculated
    $0
    Hours/week
    3 + 1.5 related

  • Jamie Drake

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Stephen P Robinson

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Judith O Rubin

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Barron M Tenny

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Ann Unterberg

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Obaid Khan

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Mali Sananikone Gaw

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Fernando A Bohorquez

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Mahmoud A Mamdani

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Jane E Salmon MD

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Erana M Stennett

    Director (Thru 10/22)

    Total calculated
    $0
    Hours/week
    2 + 1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception
  • 9 · Followed the rebuttable-presumption procedure

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings

The filer's explanations (Part III)

Part I, Line 1a
To help offset the high cost of maintaining an apartment in New York City, and in keeping with compensation practices in other New York City organizations, the board of directors approved, as part of the determination of reasonable compensation that is described in Schedule O, a housing allowance as a component of the former President's aggregate compensation. The housing allowance is included in the former President's taxable income. As part of her responsibilities, the President is required to entertain donors and potential donors. To provide an appropriate venue for this entertainment, the Board Chairman has approved that the President may belong to a social club for which The Trust will reimburse for dues and business usage. Amounts are reimbursed upon submission of an approved expense report with required supporting documentation. This cost is considered to be a valid business expense and is not included in taxable income.
Part I, Line 7
BONUSES ARE BASED ON A NUMBER OF VARIABLES INCLUDING BUT NOT LIMITED TO INDIVIDUAL GOAL ACHIEVEMENTS AS WELL AS ORGANIZATION OPERATION ACHIEVEMENTS. THE FINAL DETERMINATION OF THE BONUS AMOUNT IS DETERMINED AND APPROVED BY THE APPLICABLE BOARD AS PART OF THE OVERALL COMPENSATION REVIEW.
Part I, Line 8
The current President entered into an employment contract with the Organization on March 29, 2022, and commenced her employment on July 6, 2022.
Part II, Column b(iii)
The prior President's compensation for 2022 includes the value of vacation days that had accrued but were not used during her tenure and is reflected in Column B(iii).
Form 990, Part VII/Schedule J
The IRS Requires that the Trust include for each individual the actuarially imputed increase in the value of his or her share of the defined benefit plan.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • See attached Schedule I

    $197,284,865

    various

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202323179349302337

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