NYC COVID-19 Response & Impact Fund Distributes Grants and Interest-Free Loans to Organizations In Need

The NYC COVID-19 Response & Impact Fund -- which is managed by The New York Community Trust -- has now distributed more than $110 million in emergency support to New York City-nonprofits impacted by Covid-19. 

The fund has supported 374 social service and health nonprofits and 380 arts and culture nonprofits. The fund has also provided additional financial support through nearly $35.5 million in interest-free loans to 43 nonprofits, 33 of them centered around health and social services.

The fund was initially seeded with $75 million by 18 organizations. Founders include the New York Community Trust, Doris Duke Charitable Foundation, Robin Hood, UJA-Federation of New York and more. 

Since then, it has received contributions from nearly 1,300 foundations, corporations and individuals. The Trust put together an advisory committee of leaders in public health, community development, and the arts to help guide their efforts. 

To learn more about how this funding has assisted organizations, click here for videos. 

“As we have learned from crises in the past, the way to address this challenge is to work together, said Lorie Slutsky, President of the New York Community Trust. “The Trust has been honored to have been a part of this wonderful collaboration, which has been an inspiration and a financial lifeline for hundreds of New York’s nonprofits and the people they serve.” 

Even though the organization is wrapping up its grantmaking related to this fund, it is now pivoting its efforts to provide additional funding opportunities, as well as planning and budgeting resources, to help nonprofits as they navigate the ongoing pandemic.

Collectively, community foundations have mobilized more than $1 billion nationally for Covid-19 response. Of that total, nearly $850 million has already been granted to nonprofits -- many of which are working on the front lines to help those impacted by the pandemic.