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The New York Community Trust (The Trust) is a community foundation that serves New York City's five boroughs, Long Island, and Westchester County. The Trust administers more than 2,200 charitable funds. Established in 1924, The Trust is one of the nation's 10 largest community foundations with nearly $3.3 billion in assets. [1]
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The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
Established in 1973, The Depository Trust Company (DTC) was created to alleviate the rising volumes of paperwork and the lack of security that developed after rapid growth in the volume of transactions in the U.S. securities industry in the late 1960s. [17] DTC was formed under the special incorporation laws of New York for trust companies.
Bank of America Private Bank (formerly U.S. Trust) was founded in 1853 as the United States Trust Company of New York. [1] It operated independently until 2000, when it was acquired by Charles Schwab, and Co. [2] and subsequently sold to, and became a subsidiary of, Bank of America in 2007. [3]
The Trust Company of America was a large company in New York City. Founded on May 23, 1899 in Albany, New York, [1] its founding president was Ashbel P. Fitch and it was initially located in the Singer Building in Manhattan's Financial District. [1] In 1907 the company absorbed the Colonial Trust Company, a commercial bank. [2]
The Manufacturers Trust Company Building, also known as 510 Fifth Avenue, is a commercial building at the southwest corner of West 43rd Street and Fifth Avenue in Midtown Manhattan, New York City. Opened in 1954, it is the first bank building in the United States to be built in the International Style .