When considering a new construction project or purchase of new property, there are a number of things to consider for your non-profit; how do you afford the purchase, what are current interest rates, what are the upfront soft costs?  If you have identified a physical address for construction or property purchase, the first action you should take is to have your board adopt a Reimbursement Resolution. A Reimbursement Resolution will give your non-profit the ability to reimburse your organization for any out-of-pocket expenses associated with that address. Next, securing your tax-exempt financing via a public offer, private placement or tax-exempt loan completed with a group of parents will give your non profit lending options which hold specific benefits to your unique borrowing needs. These are just a few of the options your non profit should consider before purchasing new property or beginning a new construction project. To learn more about your organizations financing options leading into the new year, contact one of our associates to discuss, it will likely save your organization on capital in the long run!