New Nonprofit Leader
The Southern California Center for Nonprofit Management helps nonprofits with top-level transitions, and for the last year it has had one of its own. It needed to find a new chief executive.
After a deliberate search, the organization, based near Chinatown, hired Efrain Escobedo, who had been a vice president at the California Community Foundation. He started his new job early this month.
“As an organization that helps other nonprofits navigate executive transitions, we were very intentional in our process and, as a result, are so glad to welcome Efrain to CNM’s leadership team,” said Alyson Sattler, the center’s chair.
The center doesn’t just help nonprofits with executive searches but with all manner of management issues. Escobedo noted that the center has been working to help and strengthen nonprofits in the region for 45 years. He said he has worked alongside it for several years, “and I’m honored to partner with nonprofit leaders and multisector allies to carry the work forward in this role.”
In a statement, the center said: “We are profoundly grateful to Regina Birdsell, who has led our organization so admirably these past 16 years and who will continue to collaborate with Efrain to ensure a successful transition.”
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Here are two words you rarely see together: millionaire renter.
Yet the number of millionaires who rent houses or apartments is on the upward march. In Los Angeles, they increased from 31 to 143 in the five-year span ending in 2020. That’s a 361% increase.
This is according to research recently put out by RentCafe, an apartment search website. It theorized that high home prices are partly the cause; even those who can afford a home may find the cost unappealing and may want to invest money elsewhere. Beyond that, RentCafe said, homeownership also means home maintenance, which can be costly and a wanton consumer of weekends. “Couple this with the flexibility of moving between cities to pursue new career opportunities and you can see why even the most affluent sometimes choose to rent their home,” it said.
Younger people, perhaps not surprisingly, appear more willing to embrace renting. Of all millionaire renters, 28% are millennials; only 14% are baby boomers.
Also not surprisingly, millionaire renters are found predominately in larger, more expensive cities. New York had 2,457 of them in 2020 followed by San Francisco with 294. Los Angeles was third and Washington was fourth with 121. All saw big percentage increases, especially San Francisco with a more-than 1,600% increase over the five-year span.
The Insider column is compiled by Editor-in-Chief Charles Crumpley. He can be reached at [email protected].
