Remove Consultant Remove Liability Remove Utilities
article thumbnail

What Are 7 Common Nonprofit Startup Costs?

GrantNews

This plan includes general liability insurance, commercial property insurance and business income insurance. These costs include rent/mortgage, utilities, office supplies and technology, as well as any regular maintenance that you need. The price of this insurance can vary depending upon the coverage plan chosen.

Insurance 114
article thumbnail

Your Open House on Gifts of Real Estate

Center for Major Gifts

Nonprofits can refuse to accept a property if it puts the nonprofit at risk of liability or unaffordable expenses. The nonprofit will conduct due diligence, including assessing the property’s condition, marketability, and potential liabilities. Maintenance fees, utilities, taxes, and insurance.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Fundamentals of Grant Writing for Nonprofits: How to Write an Effective Grant Proposal

Allied Grant Writers

Instead, they must utilize the funds for the specified purpose, which is usually to benefit a broader good. This is to protect both the board and staff from legal liabilities. It will be best to consult or hire the services of an attorney. Moreover, the recipient of grants for nonprofits is not required to repay the money.

article thumbnail

The Fundamentals of Grant Writing for Nonprofits: How to Write an Effective Grant Proposal

Allied Grant Writers

Instead, they must utilize the funds for the specified purpose, which is usually to benefit a broader good. This is to protect both the board and staff from legal liabilities. It will be best to consult or hire the services of an attorney. Moreover, the recipient of grants for nonprofits is not required to repay the money.

article thumbnail

Does Revenue Diversification Actually Work for Nonprofits?

Peak Proposals

Without unrestricted sources of funding, you cannot cover your executive director’s salary, the salaries of your administrative staff (which includes grant writers), or ongoing costs like rent and utilities for your office. Fundraising activities and events must comply with local laws and carry adequate liability insurance.

article thumbnail

The 4 Core Nonprofit Financial Statements & Their Insights

Pamela Grow

Liabilities. These appear on the statement in order of payment due date, with short-term investments listed above long-term liabilities. On your balance sheet, youll calculate your nonprofits net assets by subtracting your total liabilities from your total assets. Youll typically list these in order of liquidity (i.e.,

Liability 130
article thumbnail

7 Vital Tips for Successful Estate Planning for Aging Baby Boomers

Planned Giving

However, for those with estates exceeding this amount, advanced planning is essential to minimize tax liabilities and ensure a smooth transfer of wealth. While online resources can be helpful, consulting a knowledgeable attorney is invaluable for more complex estate planning needs. With the federal estate tax exemption set at $11.7