It was founded by 11 prominent merchants in the Yorkville neighborhood of Manhattan's Upper East Side, which at the time was inhabited predominantly by German-born immigrants.
Their mission was “to foster and improve the trade and commerce of Yorkville…and to promote the prosperity and general welfare thereof".
This was particularly important in the wake of World War I, when a wave of anti-German sentiment had spread throughout the United States.
Its community benefit fund hosts two of the oldest and largest street fairs in the city and its proceeds support the work of charitable organizations that are focused on improving the quality of life in Manhattan.
[1] The Board Chairman is Don Winter, the founder and CEO of Encompass Media Group and the publisher of Resident Magazine.