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The 4 Core Nonprofit Financial Statements & Their Insights

Pamela Grow

Because your organization cant turn a profit by definition, the goal of tracking your finances is to demonstrate to donors, funders, the government, and the community that youre using your funding responsibly to further your mission. Liabilities. Accountability is at the heart of nonprofit accounting. Net assets.

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

Blue Avocado

Lower liability insurance limits First, the community-based nonprofit sector generally must carry lower limits of liability insurance. Most insurance companies have reinsurance in order to protect their solvency and transfer a portion of their liability to the reinsurer. The answer is fourfold.

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What’s the Cost Behind Starting a Nonprofit Organization in 2025?

Grant Writer Team

Your Nonprofit Organization’s Realistic Goal From legal fees and state filing fees to administrative expenses and initial program funding, the costs of starting a nonprofit in 2025 can vary greatly. Insurance: General liability insurance typically costs $500 to $1,500 annually.

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Do You Have to Pay Taxes on Grant Money?

GrantNews

Navigating the tax framework supporting grant money requires careful consideration to ensure compliance with IRS regulations and avoid potential tax liabilities. While grant money can provide crucial support for achieving your educational, research, or business goals, it’s essential to be aware of its tax implications.

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Nonprofit or LLC: What Distinguishes One from the Other?

GrantNews

So, if your goal is to have a positive impact on your community. In contrast, if your goal is to offer your community beneficial products and services that in turn help you make a profit, an LLC is the better fit. For more details about LLCs, here is a link to the IRS definition of a Limited Liability Company (LLC).

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Connecting the dots: Fighting for equity through a data partnership 

Candid

When the Supreme Court gutted race-conscious admissions last summer and the American Alliance for Equal Rights followed with a lawsuit against the Fearless Fund, some in the philanthropic sector feared that demographic data had become a potential liability.

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Which Fundraising Events Bring in the Most Money for Small Nonprofits?

Get Fully Funded

But if the event meets your goals for revenue and awareness, it might be ok. Typically, a Heartstrings Event has one main goal – to ask people for support. You may want to host an event like this at a local restaurant that has a liquor license and general liability insurance. Point blank. Cast a vision for the event.