The move marks the first time in at least three mayoral administrations that the fund’s entire advisory board has been removed. The multibillion-dollar fund channels private donations into public programs, and Mamdani will appoint his own board. To secure that money, it typically taps its relationships with the city’s businesses and wealthy individuals, channeling private donations into public-facing initiatives. The dismissal of the advisory board wasn’t even Mamdani’s first move against the group. AdvertisementEditor’s Note: New York City is now facing the consequences of Mayor Zohran Mamdani’s socialist takeover.