New Resource Bank : The New Solution for Nonprofit Office Space in the Bay Area

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> The New Solution for Nonprofit Office Space in the Bay Area

Posted 01.23.2018

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Northern California Community Loan Fund launches Spacesforgood.org

The Northern California Community Loan Fund (NCCLF) has announced the debut of a new tool supporting nonprofits as they seek program, administrative, coworking, and event space amidst San Francisco's escalating commercial real estate market. Spacesforgood.org is a free online platform that allows nonprofits, real estate brokers, landlords, and event venues to advertise their space available to nonprofits for short-term, long-term, or temporary use.

According to a report released by the Northern California Grantmakers in 2016, steady increases in commercial real estate have pushed Bay Area office prices up to 122% of what they were five years prior. The report details that two-thirds of surveyed nonprofits will have to make a decision about moving in the next five years. Fully 82% of those surveyed said that they are concerned about how the real estate market will impact their future programming. 'Nonprofits have specific space concerns that include, but go beyond, money,' said Joanne Lee director of consulting services at NCCLF. 'If you run a nonprofit and your mission is to serve low-income SOMA youth, for example, you don't have the luxury of moving to another neighborhood.' For smaller nonprofits already operating on thin margins, the expense and coordination of finding an appropriate facility can prevent them from growing their programs or existing at all.

New Resource Bank is proud to partner with Northern California Community Loan Fund as a sponsor of this online tool to help the nonprofit organizations in our community stay in the Bay Area. Since New Resource Bank opened in 2006, we have been committed to serving small to large nonprofit organizations as part of our mission to bring well-being to people and planet. According to Marsela Pecanac, Director of Deposit and Nonprofit Services, 'Growing real estate prices in the Bay Area are making things difficult for local nonprofits, especially those that are fulfilling their mission in specific neighborhoods. Our community relies on them to help make San Francisco a great, equitable and safe place to live.' New Resource Bank encourages the rest of the San Francisco business community to step up in any way possible and demonstrate that business can be used as a tool for good. The joint initiative with our partner NCCLF is just a small step in that direction, and we hope it serves as an invitation to others.

Interested in learning more? NCCLF will host a series of kick-off events to introduce SpacesforGood to the community:

• San Francisco kick-off event: Tuesday, January 30, 2018, 5:00PM - 7:00PM at the Foundation Center. The event is free and open to the public. Registration is required. Please register here.
• Oakland kick-off event: February 13, 2018, 5:00PM - 7:00PM at NCCLF's Oakland office at The Lab.
• A South Bay kick-off event will also take place later in the spring.

ABOUT THE NORTHERN CALIFORNIA COMMUNITY LOAN FUND (NCCLF): NCCLF is a nonprofit organization committed to California's low-income communities. For almost 30 years, we've partnered with socially conscious impact investors and mission-driven organizations to support low-income communities' need for housing, education, healthcare, food, jobs and economic opportunity. We provide loans and working capital as well as consulting and technical assistance so that mission-driven organizations can achieve their vision of financially secure and culturally vibrant communities. And by investing in our loan fund, impact investors achieve their vision of realizing financial returns while funding social good. By bringing together investors, community organizations, and our expertise, we invest in opportunity, together. Learn more by visiting www.ncclf.org.