WASHINGTON, DC-Nonprofits have improved their financial health since the economic downturn, according to a report by CBRE's Nonprofit Practice Group. This is a mixed blessing for the commercial real estate industry, however, because along the way nonprofits have become very cognizant of the benefits of space efficiency. "We are definitely seeing a big push by them to become as efficient as possible in the use of their space," CBRE Executive Vice President Manny Fitzgerald tells GlobeSt.com.

In general, the financial health of nonprofits has improved to the point where more than half say they are not planning on taking any more cost-cutting initiatives this year, the CBRE Annual Nonprofit Real Estate Benchmarking Survey found. In fact, many anticipate modest growth.

But they clearly have retained the lessons learned during the recession, which is that space can be utilized more efficiently and employees can get by on less per square foot. The report finds that the average square foot per person for organizations with 20 or more employees has decreased sharply from 403 in 2009 to 345 in 2013. There is no sign this trend will abate.

The 2013 survey also indicated that:

· 18.7% of respondents indicated their financial picture is starting to improve.

· 47.6% anticipate 2013 revenue to be flat, but stable.

· Only 7% suggested that "things are going to get worse before they get better."