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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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Is There An Inequality Tipping Point for Nonprofits?

Blue Avocado

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. But as climate change is manmade, it may have not just ecological but also sociological tipping points.

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What Are 7 Common Nonprofit Startup Costs?

GrantNews

Nonprofit Insurance Many nonprofits purchase nonprofit insurance when starting their organization. Business insurance is to protect nonprofits from any claims against the nonprofit made as a result of normal operations. The price of this insurance can vary depending upon the coverage plan chosen.

Insurance 114
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Why You Should Run Your Nonprofit Like a Business

Get Fully Funded

And you need policies, procedures, and processes. To make this happen, you MUST think of your nonprofit like a business — and run it that way. This means, you have to be clear about your audiences the way a business is clear about its customers. You have to establish your brand. You need a marketing plan. You need a budget. Or whimsy?

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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. Do you get questions on why the two never match up?

Insurance 101
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5 Steps to Make Charitable Giving Part of Your Estate Plan

Planned Giving

Use Life Insurance or a Charitable Gift Rider Life insurance is usually a key aspect of estate planning, and you can have a say in how the insurance payment is used. You can name a charity as a beneficiary on your policy, for example. But how does it all work? And what’s the best way to go about it?

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Lessons From Debby: 5 Things Before Severe Weather Hits

The NonProfit Times

But is flooding covered under a typical commercial insurance policy? Rushing : Flood coverage is not typically included in a commercial insurance policy. Although you might be able to purchase flood insurance from your carrier or add it to your policy, many managers do not.