Remove Liability Remove Pass-Through Remove Presentation
article thumbnail

Financial Audits for Small Nonprofits By: Kellie Brungard, GPC

Assel Grant Services

Disclaimer of Opinion – This type of report shows a company is not compliant with GAAP guidelines and portrays gross misstatements on its assets and liabilities. Nonprofits spending $750,000 or more of federal (or federal pass-through) funds in a year must complete a Single Audit.

GPC 40
article thumbnail

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Understanding Probate: A Comprehensive Guide to the Probate Process

Planned Giving

However, this essential procedure plays a critical role in ensuring that a loved one’s wishes are honored after they pass away. The church courts handled probate issues, ensuring that the deceased’s soul was cared for through proper distribution of their estate. Assets that must go through probate are known as probate assets.

article thumbnail

Safety First: How to Mitigate Risk at In-Person Events

Qgiv

It’s helpful to be present at the venue and to go through a visualization exercise with key staff or volunteers. From parking and check-in, all the way through the main event and checkout, it’s important to take time to think through what your safe event should look like! Let’s pretend you’ve got your venue selected.