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Estate Planning Essentials: 10 Crucial Documents for Organizing Your Affairs

Planned Giving

This entails organizing various legal documents to ensure your wishes are respected. Below is a comprehensive checklist of the essential documents needed for effective estate planning, why they are important, and how to obtain them. Sign the Document : Ensure it is signed and notarized.

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What Are 7 Common Nonprofit Startup Costs?

GrantNews

Cost of Incorporation& Tax-Exempt Status Every nonprofit startup must file a legal document known as the articles of incorporation with their state to begin the process. Nonprofits often use a lawyer to get a set of ‘trained professional eyes’ on their documents. The cost usually runs from $200-$300 a month.

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Why You Should Run Your Nonprofit Like a Business

Get Fully Funded

And you need policies, procedures, and processes. Even in the early days when the donut shop is struggling financially, appropriate insurance is required. So work with an insurer or an insurance broker to understand the coverage you need to best protect your organization and its liability. You need a marketing plan.

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Should You Have A Grant Writers Kit?

Red Tape Busters

Generally, a Grant Writers’ kit simply represents a single place to access all the information and documents that are typically requested when grant writing. They are documents that may only change annually (financials) or not at all (company registration records). Insurers and grant funding will usually ask for both.

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7 Ways Your Nonprofit Can Build a Strong Financial Foundation in 2024

Blackbaud

Create an Operating Reserve Fund (or Review Your Policy) An operating reserve is a crucial part of creating a strong financial foundation for your organization. Tip 1: If you have an operating reserve, review your policy. Update the policy based on your current and future needs.

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Why It’s Important to Inform Nonprofits About Your Planned Gifts

Planned Giving

Sometimes brokerage and insurance services are slow to pay out on a planned gift or beneficiary designation. Some donors may wish to place restrictions on their gift that go against a nonprofit’s policies. If you alert a nonprofit about your intentions, they can provide you with the proper documentation for the IRS.

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The Nonprofit’s Guide to Legacy Giving

Qgiv

Gifts of life insurance. A gift of life insurance is when a donor names an organization as the beneficiary of an insurance policy or transfers ownership of the policy to the charity. A charitable remainder trust allows a donor to donate assets to a trust, which then provides a trustee with an annual payment.