The Business Review reported more nonprofits are looking at their real estate and seeing dollar signs, according to a national survey by CB Richard Ellis.
Nearly 300 association and other nonprofit executives who make decisions related to their facilities were surveyed.
This year, 39 percent of the respondents consider real estate as an alternate source of income, up from 34 percent last year. That increase is likely linked to the economic strain nonprofits are facing, the report says.
This year, more 501 (c)(6) organizations (42 percent) say they were looking at real estate as a revenue strategy, compared with 36 percent of the 501 (c)(3) organizations.
A 501 (c)(6) organization is a business league that seeks to improve conditions for one or more lines of business, while 501 (c)(3) organizations are charitable groups.
The responding organizations were most concentrated in D.C., Chicago and New York City. More than a third (38 percent) have been in their current headquarters space 10 years or longer. Read more here.
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