Mayor Zohran Mamdani has dismissed the advisory board of the Mayor’s Fund to Advance New York City, a non-profit organization that facilitates private sector donations for city initiatives. The decision, communicated in a letter to the dismissed members, represents a significant shift in the fund's operational structure, as it is the first time in at least three mayoral administrations that all board members have been removed.
Mamdani's office stated that the advisory board members were thanked for their service and that replacements would be appointed later this year. Dora Pekec, a senior advisor to Mamdani, told Bloomberg News that the disbandment is part of a larger effort to reimagine the role of philanthropy in supporting public dollars and goods. "The creation of a new advisory board is an important next step in reimagining how philanthropy can augment, but not replace, public dollars and public goods, and we are eager to share more about our new board of advisors later this year," Pekec said.
Fund's History and Impact
The Mayor's Fund to Advance New York City, which reported $16.4 million in cash on hand as of its 2025 tax filing, has historically relied on relationships with the city's business community to raise millions annually. Since its establishment in 1995, the fund has generated hundreds of millions of dollars. Notable initiatives include raising $107 million to support families of rescue workers affected by the September 11, 2001 attacks and $54.5 million during the COVID-19 pandemic for an emergency relief fund that provided meals and personal protective equipment to healthcare workers.
Mamdani's administration has signaled a departure from previous approaches. Upon taking office in April, the mayor appointed a former dockworker and a high school teacher to the fund's board of directors, a move seen by some as indicative of a broader shift in priorities. Pekec commented on this transition, stating, "In January, our city entered a new era – one that demands our city government reflect our communities. The building of a new Mayor’s Fund, built on the ethos of putting those directly impacted in the rooms where decisions are made, is a continuation of that work."
Among the notable figures dismissed from the advisory board are Richard Born of BD Hotels, Jeffrey Gural, chairman of GFP Real Estate; Alex Katz, senior managing director at Blackstone Inc.; Edward Skyler, Citigroup Inc.’s head of enterprise services and public affairs; and James Whelan, president of the Real Estate Board of New York. The administration's actions have been characterized by some as an "anti-business" stance.
Mamdani's office indicated plans to announce a new board of advisors later in the year, aiming to redefine how philanthropic contributions can complement public funding for city programs. The fund's stated goal is to integrate the perspectives of those most affected by city initiatives into decision-making processes.