06/16/2008 - Call it a nonprofit lifeline.
Pew Charitable Trusts, one of the largest nonprofit organizations in the nation, has acquired the 10-story office building at 901 E St. NW, just across the street from the J. Edgar Hoover Building. The 265,00-square-foot space will serve as the group's new Washington headquarters with a twist: Pew plans to lease 90 percent of the building to other nonprofit groups, at 10 to 15 percent below market rates.
"We plan to make this our home for a long, long time," says Rebecca W. Rimel, Pew Charitable Trusts' president and chief executive. "We are hoping to find nonprofits who want to make this their home for a long time."
Philadelphia-based Pew will combine its two downtown D.C. offices into the building on E Street NW. The organization has a staff in the area of about 150, which it expects to double over the next three years. Pew's increased presence in the District is fueled by a stronger emphasis on policy work and greater support from outside donors, Rimel said.
Read the full article Pew's Mission to Lower Nonprofits' Office Rent on The Washington Post's Web site.