TELP offers energy-efficiency financing for Boston-based nonprofits
As the coronavirus shutdown has threatened nonprofits’ funding, opportunities to find cost savings are more important than ever. Simultaneously, Boston-based nonprofit institutions are striving to meet the City’s carbon neutrality goals. But installing energy-saving measures can require investments that many nonprofit institutions are unable to make.
Now, Boston nonprofits can take advantage of an affordable energy-savings program with no up-front costs, thanks to the tax-exempt lease program (TELP) of the Boston Industrial Development Financing Authority (BIDFA). As an approved performance contractor of the program, GreenerU can work with museums, universities, healthcare centers, and other 501(c)(3) entities to identify and implement comprehensive energy upgrades.
On Wednesday, December 9, 2020, GreenerU's David Adamian, BIDFA's Bill Nickerson and Gisella Soriano, and the City of Boston's Brenda Pike presented an information session on TELP. You can watch the webinar below or click on links in the additional resources for more information.
The Benefactor Investment Model: a new way for nonprofits to finance clean energy
Although research suggests that sustainability-related giving opportunities grow the pie by expanding giving, development officers have been understandably reluctant to move in that direction for fear of diverting precious donations from pressing operational and capital needs. The Benefactor Investment Model (BIM) solves this tension by creating an investment opportunity for high-net-worth friends of the institution that: provides a reasonable return on their investment, benefits the institution financially, and helps the institution make meaningful progress on its sustainability goals.
On Tuesday, October 13, 2020, GreenerU's David Adamian and EcoMotion's Ted Flanigan and Mark Hopkinson teamed up to present this new financing mechanism. Learn more in the video below.
Community discussion: prioritizing budgets in facilities post-covid
Now that coronavirus restrictions are beginning to lift, schools are beginning to grapple with how to allow students, faculty, and staff to return to campus safely. According to Avasant Research, “universities are preparing for substantial economic fallout, both from less revenue from student tuition and the risk that there will be fewer international—and higher fee-paying—students in their next intake.” Budget cuts are expected across the board on nearly all school campuses, but facilities departments may be looking at additional operating and capital expenses when making accommodations for physical distancing and sanitation measures.
In this interactive panel discussion, we discussed challenges and strategies on campuses to manage and prioritize facilities budgets while transitioning from the coronavirus shutdowns. Special thanks to guest panelists, who included Mary Dukakis, Vice President of Operational Services, Southern New Hampshire University; Bob LaVigne, Vice President for Operations, Nichols College; and Karla Youngblood, Director of Facilities Operations, Amherst College.