As a non-profit organization, choosing a new office location has a very different set of considerations than those of a typical office tenant. This decision should go far beyond site selection and rental rates, and should elevate the organization’s mission, strengthen value to constituents, and ultimately help drive capital campaigns.
As you start planning for 2019 and beyond, there are five key factors you should consider as you begin to evaluate your organization’s current and future office needs.
Impact on mission / program
Could the space help recruit or retain staff or encourage donors or new members? Office space, including event and conference space, can play a key role in enhancing your mission.
Ongoing operating expenses
Real estate is often the second highest expense an organization faces. Make sure you don’t spend beyond your means, but also don’t be afraid of higher quality space. There are many ways we can help minimize the cost of space.
Capital expenses / out-of-pocket costs
This is often a concern for nonprofits who own their own space, but shouldn’t be overlooked by those who rent also. Building out a space can come with out-of-pocket costs, but doesn’t have to, especially in today’s tenant friendly market. Furthermore, if as an organization you intend to occupy your space long-term, the impact on your bottom line can be accounted for over the length of your entire term.
Employee satisfaction and retention
Today’s employees evaluate office space as another factor of working at your organization just like they evaluate their managers. Many employees rely on access to public transportation, or want to be in a building that offers certain amenities, such as a fitness center, they could use free of charge. Be sure to factor in these employee desires when evaluating your office space to help keep the office filled with satisfied staff.
Renew lease, move, invest in the ownership of a building?
You have a multitude of options, each with their own pros, cons, and bottom-line impacts. We can help you evaluate your options, decide on the best course of action, and then assist to build consensus and/or board approval for those decisions.
When did you last evaluate the impact of your office space on your organization? If you are overdue for examining your options, let us know. We’re here to help.