It will provide you with practical tools that will help you shape and manage the image and reputation of your organization. The steps covered involve what typically is identified as the public relations and marketing functions within an organization. There is a symbiotic relationship between marketing and fund development, and some professionals purport that marketing is a function of donor development. This chapter is essential reading for the Board of Directors and nonprofit managers who are responsible for maintaining the financial integrity of the organization. The subject of insurance covers the appropriate balance of the type and amount of coverage purchased as related to the loss an organization can absorb.
Insurance is an important risk-financing tool for most nonprofits.
While it is true that a nonprofit with employees is not legally required to buy insurance beyond workers compensation and unemployment insurance, major funders and prudence consider it good management to purchase basic liability and property coverage. Refer to the end of this chapter for a definition of terms. A legal issue surfaces . These represent situations where a professional or consultant may be helpful. Reference Chapter 7.78 for IRS reporting and Chapter 8.5 to determine independent contractor status.