The Mayor's Fund to Advance New York City was established in 1994 to serve as the umbrella not-for-profit corporation for the City of New York. The Mayor's Fund is a publicly supported, not-for-profit corporation, dedicated to working closely with the City of New York. As the City's 501(c)(3) not-for-profit corporation, the Mayor's Fund works with the City of New York to leverage public sector initiatives with private sector support. The Mayor's Fund to Advance New York City raises money to promote the general welfare of the City's residents and aid civic improvements. The Fund supports the work of many City Agencies including Education, Parks, Health, and Cultural Affairs, and raises funds for many quality of life initiatives.