Carnegie Corporation of New York and its peer institutions have announced the formation of a new fund to assist New York City in addressing the many hardships caused by the coronavirus pandemic. Following the model of generosity and collaboration established by the New York City philanthropic community during the aftermath of 9/11 and Hurricane Sandy, the NYC COVID-19 Response & Impact Fund will provide $75 million in grants and interest-free loans to small and midsize nonprofit organizations to help them respond to emerging needs, cover losses associated with the disruption of their operations, and help them continue their critical work. 

We will continue without interruption our mission of promoting the advancement and diffusion of knowledge and understanding around issues of peace, education, and democracy — enduring causes established by Andrew Carnegie that are increasingly important in light of current crises. Indeed, it is our goal to strengthen our foundational work and further the role of the philanthropic and nonprofit sectors.