New York City Mayor Zohran Mamdani has dismissed the advisory board of the Mayor’s Fund to Advance New York City, signaling a new direction for the nonprofit that raises private money to support city programs.
First reported by Bloomberg, advisory board members recently received letters informing them that their terms had ended.
The board included executives from major companies, financial institutions, and the real estate industry who helped connect the fund with corporate and philanthropic donors.
The Mayor’s Fund has worked alongside City Hall since the mid-1990s, raising hundreds of millions of dollars for public initiatives, including disaster relief, education, youth services, public health, and neighborhood improvement projects.
An administration spokesperson said they plan to replace the advisory board with members who better reflect New York City’s neighborhoods and community organizations, while continuing the fund’s mission of supporting city programs.
The move has drawn mixed reactions. Supporters view it as an opportunity to broaden community representation, while critics worry that removing longtime business leaders could make it more difficult to attract private donations for city initiatives.
A new advisory board is expected to be announced later this year.
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