Donating Office Space To A Non Profit – Not only are you supporting the community, but you’re also getting a good customer or tenant, says Eliza Solender of Solender/Hall Inc.
OK, so I’m biased. Representing nonprofits has been my niche in real estate for years and I love it. This feature has many interesting features. However, one of the most exciting and ongoing challenges of representing a nonprofit is helping brokers, landlords and lenders overcome their concerns and stereotypes about our potential tenants.
Donating Office Space To A Non Profit
The most important question is “How will the premises be used and who will visit our building?” logical question. The lodger usually asks for details about the type of work being done there and who will be visiting the property. A major concern is usually expressed about nonprofit organizations that serve clients who may have behavioral and substance abuse problems, homelessness, youth, or criminal backgrounds.
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These are all logical concerns for any landlord about any potential tenant. The same person may approach a profitable tenant. However, with nonprofits, it usually takes a lot of education and guidance to make ownership comfortable. Sometimes I can’t shake the anxiety. For example, in one case, my client and I were unable to convince the property manager to allow a non-profit organization specializing in rape victims as a tenant. We could never understand the landlord’s objection. They are victims, not criminals!
The best course is complete transparency. Our client’s website and other materials are usually delivered early in the process. Calls are often scheduled with senior nonprofit executives to discuss the agency’s performance. Like for-profit companies, nonprofits want their organizations to run smoothly and in an environment that supports their staff, customers and other tenants.
Here, nonprofits have many advantages as potential tenants. Many nonprofits have multiple sources of income. Funding sources may include government grants (federal, state, county, and city), fundraising events, and donations from the United Way, individuals, public foundations, and corporations. Government grants are often awarded over a multi-year or multi-year period. Many institutions also have lines of credit. This is important because government grants are often distributed irregularly throughout the year, and fundraising events may not occur until late spring. A decline in the first quarter of a calendar year is not unusual.
What makes nonprofits so unusual is that, unlike private companies, their finances are public information. You can view their 990 tax returns and other reports at GuideStar. Most have an annual audit of financial statements that they must submit to all their funders. In addition, some government agencies conduct their own audits. Providing financial information to prospective landlords has never been a problem. Very few small business owners have their annual financial statements audited. Having this information usually increases the comfort of non-profit tenant ownership.
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Unlike small business owners, it is rare for nonprofits to personally secure leases. In fact, I have never personally secured a lease from a non-profit client.
Unlike small businesses, nonprofits have a board of directors made up of community leaders. The board leadership does not want the organization to burden or face financial problems due to a history of poor rent payment or inability to meet its obligations. I have a small number of non-profit clients who have not completed their lease term. This was true even in the early days of the epidemic. However, I have found that when they have difficulties, they are very open with their landlords and are generally able to work out a way that works for everyone.
Most of our nonprofit clients have been in business for at least five to 10 years. The number of people who have been in the business for more than 25 to 50 years is quite large. Knowing that a nonprofit organization will last longer than most small businesses gives landlords a very viable tenant prospect that is unlikely to pass up.
Finally, we’re seeing nonprofits move into spaces with beautiful architecture and design. As the accompanying rendering shows, Prism Health North Texas has a stunning new space on the Baylor campus that will create a special environment where employees, clients and community partners want to work and gather.
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So, when you have the opportunity to work with a nonprofit as a client or potential tenant, know that you not only have a great opportunity to support our community, but also to land a great client or tenant.
Eliza Solender is president of Solender/Hall Inc. and served on the Board of Directors of Origin Bancorp and as a Principal Advisory Director for Lost Oak Winery
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The founder and CEO of a fast-growing multi-family investment company talks about his business philosophy, tennis background, working on Wall Street and more.*Non-profit Megafon is not a grant-making, non-donating organization. Many for-profit companies donate to nonprofits every day.
Explore this list of companies donating to nonprofits through corporate giving programs and learn how your organization can find new revenue streams to make a difference!
Companies in this category offer donations and grants to nonprofit organizations nationally. Eligibility is not restricted by region, except that the recipient organization must be located in the company’s primary operating country (in most cases, the United States). Some of the options listed are available in most or all countries.
Adobe is a maker of graphics and creative software. Although they do not accept unsolicited donation requests, nonprofits can register with Benevity to apply for the Adobe Matching Grant program. The company matches employee donations of time, money and securities, and offers grants to organizations where 10 employees volunteer together for three hours or more. Sign up with Benevity through their cause portal.
Social Profit Center
The AWS Imagine Grant is a program established by Amazon to promote non-profit organizations that use cloud technology in innovative ways. The program is divided into two different awards: one focused on innovation and digital transformation, and the other on scalable, industry-changing projects. Visit their website for more information and sign up to be notified when the next application cycle opens.
The American Electric Power Foundation awards grants to nonprofit organizations focused on STEM education, hunger and housing relief, and community and environmental stewardship. Nonprofit organizations must be located nationally or in AEP’s service area. To receive an invitation to the grant program, contact your local AEP operating company, as listed on their information page. This page also includes information about charitable donations, which are open to non-profit organizations in their field of activity.
In partnership with the Women’s Sports Foundation, Athleta hosts the Dia Power Fund, which awards grants to organizations that focus on women’s and girls’ sports. Move Together grants support organizations that create multi-generational connections in the women’s sports community, and the 2021 grant period is open until May 28. The Healing for All grant is for programs that increase inclusion and accessibility for the BIPOC community of women. The 2021 application period starts from June 7 to August 9.
Bank of America issues charitable grants throughout the year, funding various types of giving on a rotating basis. The next grant period will run from May 31 to June 25, 2021, and will focus on community economic mobility, including affordable housing, small business development and neighborhood revitalization. Visit their charity page to apply or view the updated grant window.
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Ben & Jerry’s Foundation is the ice cream and frozen yogurt maker’s charitable group. They offer grants at the national and state level in their home state of Vermont. The national grant program targets grassroots organizations across the country and has a list of community and development strategies that applicants must demonstrate. The Vermont-based grant supports social and economic justice, hunger and housing relief, and other community efforts. Visit their website to learn more about how to apply for this grant program.
The Cisco Foundation offers a variety of grant and donation opportunities for nonprofit organizations. Through the Product Grant Program, they donate network technology to organizations as a way to improve efficiency and infrastructure. Global Impact Grants are available to organizations serving underserved populations in terms of education, economic empowerment and critical human needs. They also provide community-focused grants specifically for the Bay Area near San Jose, California. Visit their website to find out how to apply for a grant.
The Cliff Family Foundation provides grants to organizations working on at least two targeted areas: equitable community health outcomes, environmental protection and strengthening national diets.
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