Green Design, Shared Services, and Social Investment Opportunities Mark New Coveted Workspace for Nonprofits in Lower Manhattan

New York, NY – September 25, 2007 – Tides (www.tides.org) today announced that it has opened a green nonprofit office center, Thoreau Center for Sustainability, in New York City. Tides provides an array of services that amplifies the efforts of forward-thinking philanthropists, foundations, activists and organizations to make the world a better place. The new Thoreau Center for Sustainability offers shared workspace and a healthy work environment for its nonprofit tenants, as well as social investment opportunities for its funders. An opening celebration for the center will be held on Wednesday, October 3, 2007.

Thoreau Center for Sustainability New York is an environmentally sustainable workspace shared by twelve nonprofit organizations and programs. Located at 55 Exchange Place in the old JP Morgan Building, across from the New York Stock Exchange, it is the first shared community and conference space for nonprofits in Lower Manhattan. It is also one of the first office spaces in New York City registered for LEED CI (Commercial Interiors) certification. LEED is the national benchmark for certifying high-performance green interiors which reduce environmental impact, are less costly to operate and provide healthy and productive work spaces.

Tides is pioneering social investment opportunities in creating green nonprofit centers by offering values-based investors an opportunity to earn a strong financial return while supporting dozens of nonprofit groups. Bridge financing for Thoreau Center New York was provided by Wells Fargo Bank with long term financing from Calvert Foundation, Tides Foundation and tax exempt bonds issued by New York City Industrial Development Agency (IDA).

“Green nonprofit centers help increase efficiencies in the nonprofit sector and reduce nonprofit organizations’ exposure to rental market fluctuations,” said Gita Rao, Investment Officer, Calvert Foundation.  “We are pleased to be a part of the Thoreau Center real estate project conceived and developed by Tides Shared Spaces. We have been able to rely on their experience and competency to deliver a finished project with both social and environmental benefits.”

“Nonprofits have an especially hard time finding affordable office space,” said China Brotsky, Vice President at Tides and Managing Director of Tides Shared Spaces.  “That’s why we both create shared spaces for nonprofits and have a program dedicated to helping others start their own green nonprofit centers. Together, groups can gain real purchasing power to access higher quality workspace, infrastructure and technology; and they also expand their network, gaining access to new ideas, potential partners and opportunities.”

Thoreau Center for Sustainability New York houses Tides’ East Coast office and eleven other organizations, some of which also use Tides for their grantmaking and fiscal sponsorship needs. Tides sophisticated financial and management tools help nonprofits focus on their vision and have greater efficiency and impact in their work.

“By buying and renovating Thoreau Center New York, Tides Shared Spaces made it possible for us to acquire a long-term home and a conference center to serve our community,” said Lillian Rodriguez Lopez, Executive Director at Hispanic Federation. “Knowing we have such a partnership makes our capital campaign donors comfortable with giving.”

NYC Nonprofits Want Green Shared Spaces:
Thoreau Center for Sustainability New York fulfills important needs for nonprofits. In response to dozens of inquiries about leasing the highly desirable Thoreau Center space, Tides Shared Spaces conducted a survey of New York City nonprofits to learn more about their needs. The survey results showed that there is a critical need for more centers to house the thousands of nonprofit organizations in New York City. Half the respondents reported that their current workspace is inadequate and 43 percent of respondents rated green buildings as an important or crucial aspect of choosing an office space. Nonprofit centers give New York nonprofits the opportunity to lease or buy quality space in important areas where nonprofits are often priced out of the rental market, and Thoreau Center for Sustainability ensures that nonprofits are part of the mix of residential and business space in Lower Manhattan. For more information about the survey, please visit http://www.tidessharedspaces.org.

Thoreau Center for Sustainability New York Opening Event:
An opening celebration for Thoreau Center for Sustainability New York will be held on Wednesday, October 3, 2007. For more information about attending the event or a tour of the facility, please call 212-509-1049.

For inquiries about Tides’ services or Thoreau Center for Sustainability in New York, please contact 212-509-1049or nyinfo(at)tides.org.

About Tides
The Tides vision is a world of broadly shared economic opportunity, robust democratic processes and the opportunity to live in a healthy and sustainable environment where human rights are preserved and protected. Tides is a nonprofit organization founded in 1976 and provides an array of services that amplifies the efforts of forward-thinking philanthropists, foundations, activists and organizations to make the world a better place. Tides Foundation, Tides Center and Tides Shared Spaces have collaborated with over 15,000 individuals and organizations that have touched millions of lives across the country and around the globe. With offices in San Francisco and New York City, Tides provides fiscal sponsorship for over 200 groups across the country, operates and supports green nonprofit centers and has granted more than $500 million since 2000 alone.

About Tides Shared Spaces
Tides Shared Spaces is the Tides initiative that creates, operates and promotes sustainable workspace for nonprofits and strengthens nonprofit capacity in the real estate arena. Tides Shared Spaces operates Thoreau Centers for Sustainability in San Francisco and New York. These green nonprofit centers house the Tides offices and more than 70 other organizations. In addition, Tides Shared Spaces directs The NonprofitCenters Network, a program that provides education and peer networking for people who run nonprofit centers, those who are in the process of creating one and their philanthropic and real estate partners.

About Thoreau Center for Sustainability New York
Thoreau Center for Sustainability New York is a green nonprofit center with twelve tenants in Lower Manhattan. It was modeled on the success of Thoreau Center for Sustainability in San Francisco, a thriving 150,000 square foot nonprofit center with over 60 tenants. Both centers are operated by Tides Shared Spaces and serve as models to others interested in starting similar endeavors. Thoreau Center New York’s renovation used an environmentally sustainable architectural plan incorporating elements such as recycled building materials, non-toxic paints and energy efficient mechanical systems. Aspects of the center’s sustainable operations include the use of clean renewable energy, nontoxic cleaning products and extensive recycling programs.

For more information, visit www.tides.org and www.tideshsaredspaces.org.

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Copyright © 2007, Tides, Tides Center, Tides Foundation, Tides, Inc., Tides Shared Spaces, Thoreau Center for Sustainability, The NonprofitCenters Network. Other names used in this press release may be trademarks of their respective owners.