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Creative Purchase for non-profit organization

terryaris

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Joined
Sep 7, 2007
Messages
21
First of all, my heartfelt thanks to the REIN team for providing a great forum to access such a wealth of ideas and infomation!! We are working on a project here to provide a warm and welcome place that underprivledged youth can go to enjoy themselves and feel safe and welcome.

We have an accepted offer on a building that will give a group of underprivledged youth a place to go and spend time rather than on the streets or back alley`s in Pincher Creek. This is a non-profit organization with limited funds but a badly needed facility that is operating out of a real dive of a place. The person working with these kids is an absolute gem and we really want to give her a larger facility to enhance the wonderful work that she is doing.

Would anyone have any ideas regarding the following challenges.

1) Any grants or assistance on purchasing a building or operating a building targeted towards non-profit organizations.

2) We need to keep the lights on in the building once it is purchased. Any ideas for ongoing fund-raising or government assistance for the same.

3) How could we use existing equity in other property to offset the $100K needed for 40% down on the new building.

4) Does anyone have an idea for a good fundraiser that we could go after to raise money to offset either the intial costs or to apply to the ongoing monthly expenses.

We have a date of Dec 20 for removing conditions on this offer, but do have a fairly long closing. With our extensive involvement with the project, we have no issues carrying things for the interim but obviously cannnot totally finance the purchase and continued operation of this sorely needed facility. Walking through that door, and seeing the smiles and respect that is given by the kids, thankful to have a place to go rather than a broken home, a problem parent, or a locked door because no one is at home is enough to motivate one to do whatever we can to help.

We are wide open to any ideas, information or assistance that you can provide.
 

mikecunning

0
REIN Member
Joined
Sep 18, 2007
Messages
163
QUOTE (terryaris @ Dec 5 2007, 08:31 AM) First of all, my heartfelt thanks to the REIN team for providing a great forum to access such a wealth of ideas and infomation!! We are working on a project here to provide a warm and welcome place that underprivledged youth can go to enjoy themselves and feel safe and welcome.

We have an accepted offer on a building that will give a group of underprivledged youth a place to go and spend time rather than on the streets or back alley`s in Pincher Creek. This is a non-profit organization with limited funds but a badly needed facility that is operating out of a real dive of a place. The person working with these kids is an absolute gem and we really want to give her a larger facility to enhance the wonderful work that she is doing.

Would anyone have any ideas regarding the following challenges.

1) Any grants or assistance on purchasing a building or operating a building targeted towards non-profit organizations.

2) We need to keep the lights on in the building once it is purchased. Any ideas for ongoing fund-raising or government assistance for the same.

3) How could we use existing equity in other property to offset the $100K needed for 40% down on the new building.

4) Does anyone have an idea for a good fundraiser that we could go after to raise money to offset either the intial costs or to apply to the ongoing monthly expenses.

We have a date of Dec 20 for removing conditions on this offer, but do have a fairly long closing. With our extensive involvement with the project, we have no issues carrying things for the interim but obviously cannnot totally finance the purchase and continued operation of this sorely needed facility. Walking through that door, and seeing the smiles and respect that is given by the kids, thankful to have a place to go rather than a broken home, a problem parent, or a locked door because no one is at home is enough to motivate one to do whatever we can to help.

We are wide open to any ideas, information or assistance that you can provide.

Hi Terry:

First off, hats off to you for pursuing such a cause! Unfortunately I`m not aware of any such programs, however, the first thing I would suggest is to try and get additional time for your condition removal. This is an ambitous project and may require longer time. It is also doubtful that the Seller would get another offer until the New Year so that is certainly on your side...it always looks better to try and get an extension now then waiting until the last minute.

Does the municipality have any suggestions on funding?

As opposed to taking equity out of your other property, you may be able to use an `inter-alia` mortgage...that is a mortgage that is registered on a number of titles as additional security.

Good luck

Mike
 

JefferyJohn

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Registered
Joined
Aug 30, 2007
Messages
24
It`s great to see projects like this happening - I hope all works out even better than you`ve imagined.

Is there another demand, a profitable one, that you would be able to meet in Pincher Creek to offset the cost of the youth building? For example: if there is a shortage of commercial space, you could build a multi-unit commercial condo. The sale of the other condo(s) could offset your costs, or potentially create a profit. The same goes for lease space if you were interested in creating monthly income. Build double the building, rent out the part that isn`t needed to cover the monthly expenses of the youth side.

I know you have an offer on an existing building, but have you considered building something that explicitly meets the needs of a youth hangout? I`ve been involved in these types of projects, and dreaming big has always ended up being easier to work with than otherwise. Big dreams can inspire a community to action and you will always be surprised at who chips in what!

The other tidbit of experience I can offer, is that projects intended to help others, without their participation in the project; are doomed. If you have the youth on your side, and they are scheming, building, fundraising, marketing, etc; there is no telling how successful it can be.

Once again, good luck, and be encouraged to think grand!

Jeff
 

terryaris

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Registered
Joined
Sep 7, 2007
Messages
21
Thanks for the input on the Group Group Youth Project. As an update today, the seller has some flexibility on the condition removal. Also, we have confirmation that we have an excellent chance of landing the Greyhound Depot franchise, which means a gross income of about $5K / month, which will certainly offset costs, and keep the lights on in a monthly basis. We have also been in contact with another REIN member regarding an awesome fundraising idea. I am sure there must be government grants available for this kind of project (check their royalty income behind the curtain!) and we have some people pursuing this avenue but I am surely open to any leads or ideas that you may have, such as the one in the Globe.

It is a real pleasure to see how excited the kids and the leaders are about making this move. In fact, getting them even more involved I think is a great idea. I have an excellent feeling about this project and even if we float it on our own to get it off the ground I have every confidence that it will fly.

Thanks again, and I will keep you posted on the progress of this Group Group Youth project.

Terry & Sue Aris
 
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