The board of trustees of the Trust consists of nine members.
Three of the nine members serve ex officio: the Deputy Mayor for Economic Development, the Chairperson of the New York City Industrial Development Agency, and the Commissioner of the New York City Department of Cultural Affairs. The ex officio members may each appoint a person to represent them and vote in their place at meetings of the Board of Trustees.
The six other trustees are appointed by the Mayor. The appointed Trustees serve without pay for staggered terms of six years and continue to hold office until their successors are appointed.
The board of trustees does not hold regularly scheduled meetings, but meets from time to time as necessary to review projects.
As of March 30, 2022 the members of the board of trustees were:
- Susan Henshaw Jones, Chair
- Laurie Cumbo, ex officio member
- Leah C. Johnson
- Andrew Kimball, ex officio member
- Erika Mallin
- Lynne B. Sagalyn
- Merryl Tisch
- Maria Torres-Springer, ex officio member
- Dawanna Williams