Remember that you always have choices. When considering a facilities project, there are some basic decisions to be made:

The organization's program goals must guide how these options are assessed. The challenge is identifying the options that match what the organization needs, wants, and can afford - now and in the future. The success of the project, and the ability to deliver quality programming over time, requires balancing program, management, finances and facility. To achieve balance, the following issues need to be addressed:

• Designing the space
• Finding a good site
• Making the project's cash flows fit
• Raising the money to complete the project
• Raising the money to operate once the new space is open
• Managing the re-configured staff

Finding a balance means deciding how large a step the organization can take now towards achieving its long-term vision. Many organizations run into trouble when they try to take too large a step or take a step too soon. In order to determine the scope of the project, assess how much of a facility change the organization can sustain without making drastic changes in programming.

Furthermore, consider what to do if:

• Fundraising falls short of expectations
• Costs exceed budget
• Leads/lags develop, resulting in cash flow shortfalls

Note: Having a second choice or a contingency plan will help reduce risk.

© 2000 by the NONPROFIT FINANCE FUND

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