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How to Improve Your Internal Controls to Minimize Audit Findings

Blackbaud

Examples include backup procedures, disciplinary action, and insurance. Your control activities are the specific policies and procedures you implement to mitigate risks and achieve organizational objectives, such as spending limits on your purchase cards. Examples include reconciliations , audits, and exception reports.

Policy 72
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Why It’s Important to Inform Nonprofits About Your Planned Gifts

Planned Giving

percent sometimes inform the organizations. Sometimes brokerage and insurance services are slow to pay out on a planned gift or beneficiary designation. Some donors may wish to place restrictions on their gift that go against a nonprofit’s policies. It may seem silly, but it’s true — and it’s a step many donors forget.

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10 Tips for Managing Crisis Volunteers in Natural Disasters

Blackbaud

Prep a “Go Kit” As volunteers arrive for their assignments, provide them with necessary supplies, such as volunteer ID, maps, special equipment, and contact information for volunteer coordinators. Mitigate Risks Before deploying spontaneous volunteers to a disaster zone, check your insurance policy.

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What Are 7 Common Nonprofit Startup Costs?

GrantNews

Having a legal perspective helps ensure the paperwork filed has all the accurate information required. 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.

Insurance 117
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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

Insurance 104
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The Elevator Opens: Are You Ready to Talk Planned Giving?

Planned Giving

The key is to make it conversational and informal, not like a fifth-grader reading a book report to the class. LIFE INSURANCE Donate a life insurance policy you no longer need. Practice it. Have more than one. Because you’ll use them everywhere: At a reunion. At a legacy society luncheon.

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Why You Should Run Your Nonprofit Like a Business

Get Fully Funded

And you need policies, procedures, and processes. If you don’t know this information, you don’t know how much money you need to raise. Even in the early days when the donut shop is struggling financially, appropriate insurance is required. You have to establish your brand. You need a marketing plan. You need a budget.