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.
There are currently no vacancies on the Board. The board of trustees does not hold regularly scheduled meetings, but meets from time to time as necessary to review projects.
As of March 1, 2018 the members of the board of trustees were:
- Susan Henshaw Jones, Chair
- Alicia Glen, ex officio member
- Tom Finkelpearl, ex officio member
- James Patchett, ex officio member
- Merryl H. Tisch
- Leah C. Johnson
- Erika Mallin
- Dawanna Williams
- Lynne B. Sagalyn