Not-for-profit organizations have many purposes. Conducting a real estate operation is seldom one of them. Directors, officers and staff of not-for-profit organizations, and the attorneys who represent them, usually are not involved with real estate as a primary responsibility. But not-for-profit organizations require office space, sometimes substantial space, in which to conduct their activities. The cost of office space is likely to be a major item in the entity's operating budget, perhaps the largest after personnel costs for many organizations.
Not-for-profit organizations buy, sell, lease and operate property in the same manner as business entities. Managing the real estate function for non-profits requires above all a knowledge of real estate transactions and property management generally. There are, however, many issues specifically relevant to not-for-profit organizations, which will of course vary with the type and size of the entity. A large not-for-profit hospital or
