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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 Are 7 Common Nonprofit Startup Costs?

GrantNews

However, most nonprofit organizations start out with a Business Owner’s Policy (BOP). This plan includes general liability insurance, commercial property insurance and business income insurance. Business insurance is to protect nonprofits from any claims against the nonprofit made as a result of normal operations.

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Tips for Non-Cash Donations to Your Organization

Blackbaud

All of them applauded the plan of action but explained that none of their responsibilities focused on charitable planning to reduce or eliminate tax liability. Do you have a gift acceptance policy? My encouragement to you is simple: You are not stuck in your present reality. For this entrepreneur, this was a true “aha” moment.

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Security: The Scary Part of Cloud Computing

Tech Soup

The cloud security technical session presenter was Donny Shimamoto, who is the founder and managing director of IntrapriseTechKnowlogies. NTEN chose him to present on cloud security and financing because he has a unique blend of accounting expertise, technology know-how, and nonprofit industry understanding.

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Why Nonprofits Are Needed in the Sharing Economy

Tech Soup

Blurred Policy Lines and the Downsides of Sharing. She calls it The Great Risk Shift, where for-profit companies are shifting the liability, overhead, insurance, and consumer risks to the individual workers (and to the consumers). Here's just one of her illustrations of Dubal presenting her research.

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Understanding Probate: A Comprehensive Guide to the Probate Process

Planned Giving

These include: Assets with a Named Beneficiary: Such as life insurance policies or retirement accounts. Non-Probate Assets Without a Beneficiary: Certain assets like life insurance policies and retirement accounts pass directly to a chosen beneficiary. Submit the Will: Present the will to the local court for validation.

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The Quick Guide to Nonprofit Board Responsibilities

Qgiv

Obedience The duty of obedience requires your board members to adhere to your organization’s mission, bylaws, and policies. Policy board model The policy board model focuses on setting policies and strategic direction for your organization so your staff can focus on operational management.