Social Impact Commons
The Philadelphia region is home to hundreds of arts and heritage properties. Challenges faced by organizations holding these assets include ongoing reliance on contributed income and a lack of capacity to manage and maintain their properties. This is financially unsustainable and too often leads to problems with physical stewardship. In response, Social Impact Commons formed the Cultural Equity Realty Trust (CERT) as a community-based, nonprofit development organization with the purpose of developing, activating and sustaining arts and heritage real estate through direct community stewardship and ownership. CERT will develop a portfolio of properties under common management whose diversity in income streams and balance sheet holdings can act as a platform for increased stabilization and efficiency for the arts and heritage community with regard to its real property.