Questions to Ask About Your Program
Courtesy of the Nonprofit Finance Fund

1. How much has your organization changed during the last five years?
   Does significant change during the past few years indicate continued change in the future?

2. How much do you expect your program to change in the future?
   The more you expect program to change, the more appropriate staying flexible with your facility becomes. If this is the case, renting may allow greater choice until your program is more fixed.

3. How much space do you need?
   To answer this question, you need to know how much space you have. Combine that information with your program plan to determine how much and what kind of space you need. The more you need, the greater the up-front costs, which will tent to tip the scales in favor of renting.

4. Does you program require specialized space?
   To the extent the answer is "yes", absolutely unique space is required, then owning your own building will be the best, if not the only, choice. To the extent the answer is "no" or "maybe", then renting becomes a possibility.

5. How tied are you to a particular neighborhood?
   Changing location can affect how your work is perceived by your donors and audience.

6. What stage is the real estate cycle in?
   The pressure to make a facilities change is most intense when choices are most limited-at the top of the real estate market.

© 2000 by the NONPROFIT FINANCE FUND

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