Good morning. It\u2019s Tuesday. The Knicks lost last night \u2014 San Antonio won Game 3 of the N.B.A. finals, 115-111. We\u2019ll meet the next generation of fans at a favorite gathering place, a barbecue joint in Queens. First, though, we\u2019ll find out why the Carnegie Corporation of New York is changing its name.<\/p>\n
When Louise Richardson left Oxford University at the end of 2022, she told people, \u201cI\u2019m leaving to run the Carnegie Corporation of New York, which is not a corporation \u2014 it\u2019s a foundation.\u201d<\/p>\n
Now it is changing its name to the Andrew Carnegie Foundation to make clear that it is what it has always been, a nonprofit that was set up with Carnegie\u2019s money. Dropping \u201cNew York\u201d also makes it clear that \u201cwe fund globally, not just in New York,\u201d she said.<\/p>\n
It has been doing that since 1911, making good on the promise Carnegie made when he sold his steel company for nearly $500 million a decade earlier: to give his fortune away \u2014 all of it \u2014 before he died.<\/p>\n
\u201cHe discovered towards the end of his life that, actually, that was going to be very difficult,\u201d Richardson said.<\/p>\n
Carnegie put $135 million into the foundation when he started it in his mid-70s, declaring that anything that accrued to his estate after his death \u2014 he lived another eight years \u2014 would also go to the foundation. Today its endowment is worth more than $5 billion. Its grant-making budget for 2026 is $220 million.<\/p>\n
There is no mission change behind the name change. The foundation says it will continue to focus on issues that Carnegie valued \u2014 education, democracy and peace. Nor does dropping New York from its name mean that it is abandoning the city. The foundation says it has invested more than $588 million in organizations in the city, including a $1 million grant in 1921 that helped fund the Columbia University College of Physicians and Surgeons, and a $1 million grant in 1968 that helped create the Children\u2019s Television Workshop and, with it, \u201cSesame Street.\u201d The most recent Carnegie grant for that organization, for another $1 million last year, helped fund Season 56 of \u201cSesame Street\u201d and plan for Season 57, the foundation says.<\/p>\n
\u201cOur trustees are constantly saying, as we look at every grant and every commitment we make, \u2018What would Andrew do?\u2019 \u2014 which I think is a very good mantra for us to remember,\u201d said Janet Robinson, the chair of the foundation\u2019s board of trustees. \u201cAndrew was a large personality and someone who did a lot of good in the world, and continues to do a lot of good in the world because of the decision he made in 1911.\u201d<\/p>\n
But none of the foundation\u2019s money went to Carnegie Hall or the 66 Carnegie libraries in New York City that are now part of the New York Public Library, the Brooklyn Public Library and the Queens Public Library. Carnegie paid for those directly (and more than 1,600 other libraries elsewhere in the U.S.).<\/p>\n
\u201cThere\u2019s Carnegie Hall, there\u2019s the Carnegie Endowment \u2014 so many other Carnegies,\u201d Richardson said. The foundation says there are more than 20 institutions in the U.S. and Europe that bear his name, among them Carnegie Mellon University in Pittsburgh \u2014 all underwritten before he created the foundation.<\/p>\n
But what\u2019s in a word \u2014 specifically, the word \u201ccorporation\u201d? Why did Carnegie call a nonprofit a corporation?<\/p>\n
\u201cHe didn\u2019t use the word or the name \u2018corporation\u2019 elsewhere, which I have assumed was the reason he gave it to us,\u201d Richardson said. But people \u201cnow think of a corporation as something that is a profit-making entity.\u201d<\/p>\n
She said the it\u2019s-not-a-corporation problem had continued once she arrived in New York. \u201cI get invited to all kinds of business things because people think I\u2019m a female C.E.O. of a corporation,\u201d she said. \u201cWe wanted to clarify that, in fact, we are and always have been what is currently understood as a foundation.\u201d<\/p>\n
Weather<\/p>\n
Expect a sunny sky with a high near 79 degrees. Tonight will be partly cloudy with a low near 65.<\/p>\n
ALTERNATE-SIDE PARKING<\/p>\n
In effect until June 19 (Juneteenth).<\/p>\n
QUOTE OF THE DAY<\/p>\n
\u201cThis has been talked about for longer than people\u2019s lifetimes. This is going to be absolutely transformational.\u201d \u2014 Gov. Kathy Hochul, who broke ground yesterday on the next phase of the Second Avenue subway<\/a>, extending the Q train to East 125th Street.<\/p>\n The latest Metro news<\/p>\n The next generation will remember these Knicks<\/p>\n Despite the Knicks\u2019 115-111 loss in Game 3 of the N.B.A. finals last night, there is probably a place in New York that\u2019s not preoccupied with basketball right now. Pig Beach, a barbecue joint in Queens, is not that place. It\u2019s a sea of blue and orange and white<\/a>.<\/p>\n The adults in the crowd are youngish, mostly 30 and under. They believe in the Knicks with a confidence that most New Yorkers over 30 do not. And then there are those at Pig Beach who are too young to have heard about the years of anguish that older fans endured for years. No, decades.<\/p>\n Take Philip Germain, who is 10, and his brother Noah, 8. Both of them want to be professional basketball players. Both know that these Knicks are unbelievably good.<\/p>\n \u201cThe main thing they\u2019re learning is: Don\u2019t take things for granted,\u201d said their father, also Philip Germain, who is 42.<\/p>\n While the latest generation of fans pay tribute to their parents for handing down a passion for the Knicks, the young say their social media posts have drawn new supporters. That was apparent at watch parties outside Madison Square Garden. Things got so out of hand on Friday during Game 2 that a party planned for last night was canceled<\/a>. During the first two games of the finals, the police took more than 30 people into custody throughout the city.<\/p>\n At least three major watch parties were held last night: at Bryant Park in Midtown Manhattan, Wollman Rink in Central Park and Brooklyn Bowl in Williamsburg. Registration opened at noon<\/a> for the Bryant Park event, which can host up to 5,000 people. All three parties quickly filled up.<\/p>\n Like Philip and Noah, those fans understand that they are seeing the Knicks make history. At Pig Beach last week during Game 1, Jose Lliguichuzhca, 39, a construction worker from Corona, Queens, stood on a bench with his daughter Isabella, 9. Both were too delighted to touch the ground. Lliguichuzhca was Isabella\u2019s age in 1999 when he watched the Knicks\u2019 last trip to the finals.<\/p>\n \u201cThis is a special moment,\u201d he said. \u201cI never expected it, and I\u2019m living it.\u201d<\/p>\n METROPOLITAN diary<\/p>\n The red balloon<\/p>\n Dear Diary:<\/p>\n In slow motion, I saw it: a young boy holding a red balloon at the corner of 59th Street and Columbus on a sunny morning, and a woman beside him, holding the boy\u2019s hand and a phone.<\/p>\n People on their way to a nearby grocery store and a drugstore navigated between cars, cyclists and delivery trucks as the boy, squinting at the balloon, focused on it and not on his grip as the round red bubble slipped from his hand and began a lazy climb upward.<\/p>\n Walking by him, at the moment of escape, I saw, briefly, his eyes as they melted from awareness to confusion to terror to grief. I saw him pull the woman\u2019s hand, pointing upward, wondering if perhaps it was not too late.<\/p>\n There were no cars turning onto 59th. As she ended her call, she shook her head once and guided him across the avenue, undeterred by the gasps, then growing wails, then sobs.<\/p>\n It was all expressed in a gentle toddler warble but spoke so powerfully of loss that my heart paused, just for a moment, as I continued on, watching the balloon get lost among apartment buildings, and the boy and woman get lost behind the delivery trucks on that busy morning.<\/p>\n \u2014 Laurie Ann Gruhn<\/p>\n Illustrated by Agnes Lee. Tell us your New York story here<\/a> and read more Metropolitan Diary here<\/a>.<\/p>\n Glad we could get together here. See you tomorrow. \u2014 J.B.<\/p>\n Hannah Fidelman and Ed Shanahan contributed to New York Today. You can reach the team at nytoday@nytimes.com.<\/p>\n