Survey: How Do Rising Real Estate Costs Impact Nonprofits in Greater LA?
The Federal Reserve Bank of San Francisco (SF Fed) is conducting a survey of nonprofit organizations in the Greater Los Angeles region to understand the scope of nonprofit displacement and how organizations are responding to the region’s challenging real estate market. While the topic of rising rents and displacement tends to focus on residential issues, we recognize an increased cost of real estate also has implications for nonprofit organizations and the communities they serve. Building on the Northern California Grantmaker’s 2016 Bay Area Regional Nonprofit Displacement Report, we seek to understand how the cost of commercial space is impacting nonprofits and their clients in Los Angeles.
The findings of this survey will help us gain a better understanding of the issue, provide an opportunity to highlight trends and key findings that may be unique to Los Angeles, and engage a wide range of stakeholders around solutions to keeping nonprofits embedded in the communities they serve. The survey will be open until December 12th and results of the survey will be shared in a report in early 2019.
The Bay Area report findings show that most respondents (82 percent) are concerned about sustaining their work in the face of rising office space costs in the region, and nearly two out of every three nonprofits say they will have to make a decision about moving in the next five years.
If you represent a nonprofit in the Greater Los Angeles region, we invite you to share your insights through the survey.