Frequently Asked Questions
What made you decide to purchase this building?
Our lease at our current location expires in less than two years. Last fall, our Board of Directors engaged in lengthy and thoughtful debate about our optimal future physical space, our mission and community role. We believe that our headquarters and our mission should be complementary – that our space should provide the opportunity for us to more fully advance our mission and strategic goals. Our current location does not allow for that opportunity and the University Club building does – on many levels.
What do you hope to achieve from having a building?
We have several goals for the building. First, the Community Foundation is a growing institution that requires more physical space for its operations. Second, as one of our missions is to expand philanthropy in our region, we believe that owning our own building, in a prominent downtown location, will increase the visibility of our work and our mission. Third, and most importantly, this building will give us more room to engage the community through increased meeting and conference rooms and create a forum for community problem solving and discussions.
This is a big building. What will you do with all of the extra space?
The building has close to 18,200 square feet of usable space. About 9,000 square feet will be used as Community Foundation office and meeting rooms, some of which will be open for public use. Another 9,000 square feet will be leased to local nonprofit partners. There is additional space in the basement that may also be rented out for nonprofits or incubation for community projects. We believe that there is power in bringing people together to explore important community issues: to learn, share knowledge, find common ground and identify solutions. We have established ourselves as a leader in promoting collaboration, so space will be used to facilitate community meetings.
Is this going to be a green building?
We plan to incorporate sustainable design features in our renovation plans. We will know more when we secure complete architectural designs and renovation plans. Please check back for additional details.
Will there be convenient parking?
An adjacent parking lot allows for 40 parking spots for staff and visitors. We plan to remove the existing bank drive-through structure – which will allow for additional parking spaces. In addition, there is substantial overflow parking available nearby in surface lots and parking garages within two blocks o f the building.
What is the cost of the building and how will it be paid for?
The Community Foundation used its general funds to acquire the building for $1 million in a cash transaction. We will finance the costs of renovation and pay these back through our operating budget. Our operating budget is derived principally from the earnings on a portion of our endowment and administrative fees that we assess to the almost 500 charitable funds that we manage.
How can I learn more?
Questions can be directed to Peter Dunn, President & CEO at 315-422-9538, ext. 211 or Peter@cnycf.org.