Comments on We need to find immediate funding for a non-profit organization serving children & special needs groups- help? »
March 25, 2009
batcattj @ 2:47 pm
Have you contacted your local United Way? They frequently have emergency funds, or can help direct you to someone who does. They may also know about a loan or mortgage program that would help you purchase.
Another idea is to hold some sort of fund drive. This would have to be huge to purchase a building, but if you could get local businesses behind you, a local radio and TV station, etc.
How much is the property going to cost? You have to buy it from the landlord? Perhaps he would be willing to carry your mortgage through something like virgin money (link below).
I’ll keep thinking about this, maybe I can come up with more.
EDIT:
Where are you located. I started thinking about the “art” aspect of it. Not that art is a field where there are an overabundance of wealthy people, but there are some. Could you perhaps find a group of sponsors who would go in together to buy the property for you? Art galleries, art supply stores (even online ones!), auction houses, artists themselves, etc.
I think no matter how this happens, it’s going to be a lot of work, so you need to start gearing yourself up now. If you are a non-profit, look into donation-matching programs - my company will match my tax-deductible donation 1 for 1, I know a lot of companies do. I wonder if the local bank would consider donating half the value of the building if you took out a mortgage for the other half!
Still brainstorming, more may be forthcoming.
I did some online research - will post some relevant links below.
Are there spaces in your building that you could either rent out (seperate units) or areas within your own business that you could rent time in when you’re not using them? i.e. another small start-up non profit can’t afford/doesn’t need a whole location of their own yet, just space for a phone line, a couple file cabinets, and a meeting room three hours a week. They might be willing to pay you $400 a month for this?
Also, if you’re a non-profit (what is that, like 401-c or something? I can’t remember) then any amount that your seller knocks off the price might somehow be tax deductible for him.
I think you need to see if you can garner the assistance of a real estate lawyer, hopefully free advice.
Comments on We need to find immediate funding for a non-profit organization serving children & special needs groups- help? »
Have you contacted your local United Way? They frequently have emergency funds, or can help direct you to someone who does. They may also know about a loan or mortgage program that would help you purchase.
Another idea is to hold some sort of fund drive. This would have to be huge to purchase a building, but if you could get local businesses behind you, a local radio and TV station, etc.
How much is the property going to cost? You have to buy it from the landlord? Perhaps he would be willing to carry your mortgage through something like virgin money (link below).
I’ll keep thinking about this, maybe I can come up with more.
EDIT:
Where are you located. I started thinking about the “art” aspect of it. Not that art is a field where there are an overabundance of wealthy people, but there are some. Could you perhaps find a group of sponsors who would go in together to buy the property for you? Art galleries, art supply stores (even online ones!), auction houses, artists themselves, etc.
I think no matter how this happens, it’s going to be a lot of work, so you need to start gearing yourself up now. If you are a non-profit, look into donation-matching programs - my company will match my tax-deductible donation 1 for 1, I know a lot of companies do. I wonder if the local bank would consider donating half the value of the building if you took out a mortgage for the other half!
Still brainstorming, more may be forthcoming.
I did some online research - will post some relevant links below.
Are there spaces in your building that you could either rent out (seperate units) or areas within your own business that you could rent time in when you’re not using them? i.e. another small start-up non profit can’t afford/doesn’t need a whole location of their own yet, just space for a phone line, a couple file cabinets, and a meeting room three hours a week. They might be willing to pay you $400 a month for this?
Also, if you’re a non-profit (what is that, like 401-c or something? I can’t remember) then any amount that your seller knocks off the price might somehow be tax deductible for him.
I think you need to see if you can garner the assistance of a real estate lawyer, hopefully free advice.