Buying or renovating a building is a milestone event for any nonprofit. And while this important step will present many challenges in the short run, it will ultimately allow your organization to stabilize its real estate costs and risks and provide greater overall economic security for your organization. Taking time to develop a clear roadmap and the right team at the outset of the process will help maximize the benefits and minimize the challenges of acquiring or renovating your property.
To better ensure a smooth acquisition and development proess and successful end result, your nonprofit should answer these five important questions:
- Who do we need on our team?
- How will we finance the project?
- What tax issues will owning and operating a building raise for us?
- How do we navigate the land use approval process?
- How can we protect our nonprofit organization?
Castagna Consulting Group is your professional to oversee the project and coordinate the efforts of the entire team. We have the expertise in working with nonprofit organizations. We will help you put together a team to take you through the entire development process.