ARTS ORGANIZATIONS AS LANDLORDS
Submitted by Tommer on April 5, 2009
The recesion brings new worries to organizations that hve invested in their own buildings, as reported in the NYTimes.
“You get a building, and then you buy it, and then you get an endowment, and then the heavens open and the angels sing,” said Clara Miller, president and chief executive of the national Nonprofit Finance Fund. “And at each one of those steps up that ladder to heaven you’re actually becoming less flexible. You’re building more of a kind of organizational shell around yourself — which you may need, which may be the right kind of cradle for your mission. But you may be really undermining your flexibility to change with the times.”