AND is a founding member of the Northern Manhattan Collaborative (NMC), which currently includes five non-profit organizations that collectively own and manage over 2,700 affordable apartments in Northern Manhattan. Member organizations include AND, El Barrio’s Operation Fightback, Hope Community Inc., Youth Action Programs and Homes, and 116th Street Block Association. The NMC is a unique regional approach to non-profit collaboration, with the goal of building upon the strengths of each organization and reducing duplication of effort among the groups.
The NMC members believe that a strong foundation in asset management is necessary to ensure that affordable housing properties – and the homes within them – are underwritten, developed, and managed to meet the long-term needs of residents and the community. Strong asset management also helps to sustain the organizations so that they can continue serving the community for decades to come. To this end, the NMC is committed to ensuring that each member organization can meet its “double bottom line” — its goal of operating properties for both financial and mission-based success.
AND has made a significant commitment over the last several years to developing its in-house capacity to provide asset management services for its own portfolio, as well as those of its NMC partners. In 2015, using Enterprise Partner Sustainability grant funds, AND brought on a full-time Asset Manager who is now responsible for shared Asset Management duties across all five NMC organizations. The Asset Manager tracks metrics and trends for each organization and property in the NMC and regularly establishes desired outcomes and informational needs with the staff and property management functions of each of the NMC organizations. The Asset Manager also assists the organizations in restructuring, refinancing, re-syndication, development, and capital needs efforts, and ensures that the Boards, executive leadership, and staff of each organization have the knowledge to evaluate asset management practices, speak the language of asset management, and use these abilities to strategize and coordinate more effectively, both within their own organizations and as a group.
The NMC’s in-house asset management, data tracking and reporting program helps each organization to better measure, analyze, and improve the quality of its buildings and the efficiency of its operations – which frees up time and resources for more mission-driven programming.