Mercy Corps to sell downtown Portland headquarters
International relief nonprofit Mercy Corps has put its Old Town Portland headquarters for sale for $17.6 million as it faces drastic federal funding cuts and a dispersed workforce.
International relief nonprofit Mercy Corps has put its Old Town Portland headquarters up for sale for $17.6 million as it faces federal funding cuts and a dispersed workforce.
Mercy Corps renovated the property at 45 S.W. Ankeny St. in 2009 for $37 million, according to Business Journal media partner KGW-TV.
The organization, Oregon's 11th-largest nonprofit, provides international food, medical and other humanitarian assistance in more than 40 countries around the world and had revenue of $522 million, according to recent tax filings. But funding for its programs has been targeted by the federal Department of Government Efficiency program led by billionaire Elon Musk.
Mercy Corps said it received notice termination notices for 40 of its 62 federally funded programs, KGW reported.
The nonprofit also said that a shift toward remote work and more dispersed workforce left the headquarters only 12% occupied, according to KGW.
"Mercy Corps' U.S.-based team members are now more distributed across the U.S. than they were five years ago," Mercy Corps said in a statement. "Prior to the pandemic, Mercy Corps primarily hired U.S. team members in its Portland, Ore., and Washington, D.C., offices. During and since the pandemic, the organization has hired more remote staff across the U.S."
The organization still plans to maintain a presence in Portland, according to KGW.
The Old Town headquarters property is listed by Commercial Real Estate NW. It is 83,000 square feet and consists of the 1892 Parker-Scott building and 40,000-square-foot modern addition.
Mercy Corps is also Portland's largest public benefit nonprofit, reporting more than twice the revenue of the next largest, Goodwill Industries. It reported $283 million in assets and 642 employees, according to Business Journal research.
The List: Metro-area public benefit nonprofits
Most current revenue in last 3 years
Rank Prior Rank Name / URL
1
1
Mercy Corps
2
2
Medical Teams International
3
3
Energy Trust of Oregon View this list
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