As some of you know, I’m passionate about the world of philanthropy and work with many worthy nonprofits and causes. I love being a part of other people’s significant work that actually helps other human beings not only nationally, but internationally!
I had the opportunity to sit down and interview the co-founders of GreaterSpace, Edward Leibman and Hannah Odell, and find out about their backgrounds, the concept, and how so many nonprofits have benefited from this community. From discounted office space in convenient locations throughout Manhattan to a broad range of services available to their clients at short notice, GreaterSpace has a solution.
OR: Share a little little bit of your background.
GreaterSpace founders are both lifelong fundraising careers. Ed Leibman founded Hudson Ferris, one of NYC’s premier boutique fundraising firms, ten years ago, and Hannah Odell has been a formative consultant for more than half of her lifetime. Together, the pair have worked with more than 80 nonprofits to help them launch major campaigns, access new funding, and achieve efficiency and sustainability in their development efforts.
Leibman has led highly successful fundraising efforts for some of New York’s leading establishments, including The New York Botanical Garden, The Public Theatre, The National Institute for Reproductive Health, and Theater Communications Group, amongst others, raising millions of dollars in the process.
Odell spearheaded fundraising efforts for international non-profit organizations in El Salvador and South Africa, before bringing his talents home to New York City, where he served as the Brooklyn-based Director of Development for Children of the City prior to joining the Hudson Ferris team.
OR: How did you come up with the GreaterSpace concept?
GreaterSpace was conceived in direct response to the trend of rising real estate prices that are forcing Manhattan nonprofits out of permanent office space, into undesirable and crowded remote work situations, co-working offices, or remote isolation spaces outside the city that don’t accommodate their needs. Seeing so many nonprofits facing this existential threat created an urgency for solutions that could transform the sector, and out of this need, GreaterSpace was born.
GreaterSpace not only provides nonprofits with state-of-the-art office space at a reasonable price point, but also creates efficiencies and enables organizations to reduce their operating costs by accessing best-in-class essential services at significant discounts. This platform is designed to streamline our clients’ operations and empower them with the resources to grow, but more broadly, it’s created to promote much-needed collaboration in the non-profit sector.
OR: Where are your offices located and are you looking to expand outside of NYC?
GreaterSpace offices are housed at some of the most prestigious and internationally recognized addresses in NYC, including One World Trade Center, The Seagram Building, The Financial Times Building, 667 Madison Avenue, and 17 State Street. We certainly plan to expand, as we see a growing need for our platform in most major US cities. In the near future, Boston and DC are the next locations for expansion, and our exclusive partnership with Servcorp gives us access to highly desirable locations, including One International Place in Boston and 1717 Pennsylvania Avenue next to the White House in Washington, DC.
OR: How is GreaterSpace different from WeWork?
GreaterSpace is a community only for non-profit organizations. It is a place where non-profits become part of a network of like-minded organizations working to make the world a better place, where they can let our service partners handle their operational needs so they can focus on what they do well – achieve their mission.
Subsequently, Servcorp is a pioneer in the co-working and co-office industry, having developed a reputation for longevity and professionalism since its founding in 1978. At GreaterSpace, clients know they’re cared for at every operational level, and funders and board members can support them with total confidence in their sustainability.
OR: A nonprofit has lots of costs in having to operate like a for-profit business. Why is renting space one of the biggest expenses?
Rent prices have almost tripled since the 2008 economic crash, so many nonprofits that signed ten-year leases around that time saw their square footage costs skyrocket to levels unrealistic to sustain. Non-profits are expected to operate by the 85/15 rule – with 85% of the budget going directly to programming. This left the organization with little funding for overhead costs, including salaries, rent, and equipment, so that these critical costs were ultimately reduced to unthinkable lows. Businesses cannot operate successfully in this restrictive environment, so we design solutions that can help nonprofits grow in the way many nonprofits can.
OR: What do you see as challenges for nonprofits?
Funders want to see spending efficiency across all fronts, which can be specifically challenging in a city where the costs of hosting parties, renting office space, and hiring professionals to handle fundraising or accounting, for example, increase exponentially. Funding is also renewable only up to a certain level, so nonprofits are continually in a place where they must put additional resources into development to maintain and increase their budgets year after year. This constant uphill battle forces nonprofits to sometimes cut programs, minimize staff, and slash expenses in order to stay afloat. At GreaterSpace, we have created a powerful support system for nonprofits that helps them mitigate these risks and access pathways to efficiency and growth.
OR: The idea of collaborating is brilliant for organizations that need to share their resources. Do you have a hit story you can share with us?
We see this concept being pushed around in many areas of the nonprofit world, but one notable example is here in NYC at Robin Hood’s Blue Ridge Lab. Robin Hood, NYC’s largest poverty alleviation foundation, launched an incubator to propel technology-focused nonprofits into growth by enabling them access to a crucial shared resource. In some ways, GreaterSpace builds on the innovative approaches of the Robin Hood Foundation and Blue Ridge Labs, but unlike these initiatives, GreaterSpace’s support services cover every aspect of nonprofit operations, and our platform is designed for nonprofits of any kind and at every stage of their evolution. .
OR: We see you have a team of pros from a number of industries who can help serve nonprofit clients. Can you share the services offered?
GreaterSpace services included fundraisingthe core functions of any successful non-profit organization, accountancythat focuses on nonprofit regulatory compliance, event planningthe heavy duty of resources so many non-profit organizations are burdened with, and homework, services that are usually out of reach of small to medium-sized organizations. We also offer web/graphic design, IT support, CRM implementation, social media, grant writing, Administrative support And executive guidance.
OR: Do you think this kind of collaboration is how the industry will continue going forward?
Very! The philanthropic community strongly encourages collaboration, and the not-for-profit sector has at all times followed funding, historically at all times following the expectations of funders.
OR: Will the client have the opportunity to rent space virtually, a book office, through the GreaterSpace app?
Yes, GreaterSpace’s online portal makes it easy to order services without the need for a credit card. This will enable seamless communication between service providers and clients in addition to form a virtual community where non-profits can interact with one another as part of our membership bulletin board. We’ll even be posting notifications about our select series of lectures, networking events, and industry-focused meetups.
As part of Servcorp’s 60,000+ community, clients will also be capable to use their Servcorp Home portal to reserve board space, executive administration services, meeting and event space in our charming conference center at 667 Madison Avenue.
OR: What are some additional things you can share with the nonprofit/potential client on why they should at least visit the venue before making any real estate decisions?
The best way to experience and understand how GreaterSpace can transform your nonprofit operation is to visit us for a tour. The rooms are charming, the views from our downtown location are unforgettable, and the team will immediately feel like your own.
OR: Thank you for taking the time to interview me. I like the concept of GreaterSpace and that I know it will continue to be an enormous success.
You can follow GreaterSpace on their social media sites and visit their website for excellent offers and services.
https://www.greaterspacenyc.com
https://www.linkedin.com/company/greaterspace-nyc
