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Why Are Nonprofits Experiencing An Insurance Crisis? And What Can the Nonprofit Sector Do About it?

Blue Avocado

If you’re reading this, you probably already know about the problems that nonprofits like yours are facing with their insurance: Rising insurance premiums, poor coverage from commercial insurance carriers, and in some cases, the loss of coverage altogether. Why are insurance rates soaring for nonprofits?

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What Are 7 Common Nonprofit Startup Costs?

GrantNews

While forming a nonprofit can be a long and stressful process, we hope this list brings some clarity to what costs you will need to set aside to adequately fund your nonprofit venture. Nonprofit Insurance Many nonprofits purchase nonprofit insurance when starting their organization. Funding offsets start-up costs.

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Is There An Inequality Tipping Point for Nonprofits?

Blue Avocado

The wealthy have already begun their exit from supporting societal crises through funding the government. As smaller donations continue to decline, the philanthropic system is at risk of catastrophic failure if high-net-worth individuals, driven by natural human fears, feel a need to give less and less as insurance against a dangerous future.

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GAAP for Nonprofits: How to Reconcile GAAP and Non-GAAP Results

Blackbaud

So, while bequests, insurance policies and planned gifts are exciting for the organization, those donations won’t be reflected in the GAAP reporting. Kudos to your development team for getting the payout from an insurance policy of a 45-year-old. How Development and Finance Can Get Along (Really!)Does

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5 Steps to Make Charitable Giving Part of Your Estate Plan

Planned Giving

In the same way that you might bequeath certain assets or items to relatives, you can choose to establish a bequest of certain assets or funds to a specific charity, or charities. This can be a very simple way to ensure that a charity you care about receives funds from your estate.

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Why You Should Run Your Nonprofit Like a Business

Get Fully Funded

And you need policies, procedures, and processes. Similarly, if you’re a nonprofit and you don’t have these business essentials in place, you can’t raise the money you need to fund your programs. Even in the early days when the donut shop is struggling financially, appropriate insurance is required. You need a marketing plan.

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4 Nonprofit Financial Management Challenges (& Solutions)

Get Fully Funded

You dont want to take funding away from your programs unless its absolutely necessary, but some spending on overhead is essential for your nonprofit to operate. However, you can strategically cut other administrative costs by: Evaluating your organizations insurance plan to ensure youre getting the right amount of coverage for the best price.