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Why You Should Run Your Nonprofit Like a Business

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And you need policies, procedures, and processes. So work with an insurer or an insurance broker to understand the coverage you need to best protect your organization and its liability. Do you have the policies, procedures, and processes in place to run your nonprofit smoothly and efficiently? You have to establish your brand.

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What Are 7 Common Nonprofit Startup Costs?

GrantNews

However, most nonprofit organizations start out with a Business Owner’s Policy (BOP). This plan includes general liability insurance, commercial property insurance and business income insurance. Funding is intended for maintenance, winterization, initial and annual start-ups, and technical consultation services.

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The 10 roles and responsibilities of a nonprofit Board of Directors

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They should put internal controls in place and help write policies to prevent loss, theft, or confusion, using current b est practices. The Board will be responsible for monitoring how closely financial activity matches the actual budget, looking into how much programs and services cost, and whether that cost is appropriate.

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Should You Have A Grant Writers Kit?

Red Tape Busters

This is truer for Grant Writers who work specifically inside the organisation seeking grants, but Grant Writing Consultants can find useful strategies in adopting parts of a Grant Writers kit as well. At a minimum, this should include the Certificate of Currency and the Policy document, including any supplementary documents.

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Security: The Scary Part of Cloud Computing

Tech Soup

IntrapriseTechKnowlogies specializes in nonprofit IT and financial consulting. If there is a security breach by one of your cloud vendors, primary liability for sensitive data rests with your organization - not the cloud vendor. Donny is a certified public accountant (CPA) and a certified information technology professional (CITP).

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Nonprofit Board Member Onboarding: 12 Things to Cover

Qgiv

Matt Hugg, President and Founder, Nonprofit.Courses – He’s the author of the Guide to Nonprofit Consulting, and teaches nonprofit management at several universities, via the web, and in-person in the United States, Africa, Asia and Europe. In short, the board’s duty is to deal with the policies and the “big issues.”

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An Essential Guide to Nonprofit Financial Management (Best Practices and Tips)

DoJiggy

You also need policies to stay up-to-date with compliance and reporting requirements. Add it to your Form 990 to account for your assets and liabilities. Write policies and processes that encourage oversight, control, and transparency. Having a financial surplus helps you stay operational during rough patches. million in number.