Foundation
The New York City Partnership Foundation, Inc. (“Foundation”) is a 501(c)(3) public charity that supports: (i) investments reflective of the New York City Investment Fund’s mission with respect to social and community investment, (ii) policy and research, and (iii) the David Rockefeller Fellows Program. Through the Foundation, the Fund is able to make below market loans to projects located in economically disadvantaged areas, that employ local residents and contribute to the revitalization of those areas; and projects that support the health, education or research activities of the city's nonprofit institutions.
The Foundation’s research effort plays an important role in helping the Partnership for New York City formulate policy by sponsoring economic impact studies, conducting business surveys, and convening task force panels and conferences for Partners, economic experts, public officials and other constituencies concerned with economic development. Past research initiatives include a study on the “cleantech” industry, a growing industry that the Fund is committed to supporting, as well as a comprehensive study on the economic effects of traffic congestion in the city.
The Foundation’s investment efforts primarily focus on projects that:
- Prepare New Yorkers to succeed in a knowledge-based economy,
- Provide economic opportunities to minority entrepreneurs and residents of low income communities,
- Develop the not-for-profit and public infrastructure required to support a more balanced and inclusive New York City economy.
The Foundation has also responded to targeted needs that have arisen in the city. Following September 11, 2001, $12 million was raised to provide recoverable grants to small businesses negatively impacted by the WTC attack. Also, the Foundation created the Arts Entrepreneurial Loan Fund in partnership the New York State Council on the Arts. The Arts Entrepreneurial Loan Fund provided $2 million in low interest loans to eight nonprofit arts/ cultural groups in support of entrepreneurial and infrastructure projects.