Protections for New York’s Nonprofits
Many nonprofits in New York provide charitable services to the areas they serve. Some of these organizations are dedicated to offering education, health resources or necessities for community members of all ages. Even with the nature of these organizations, and the low-cost or even free services they offer, they are not immune to certain responsibilities mandated by the law. Even in these types of organizations, disputes can lead to costly resolutions when there are no safeguards put in place in advance. If you are considering starting a nonprofit organization, or currently head one but are looking for better ways to manage it, there are many things you can do today to make that happen. By having protections such as non profit insurance NY businesses can operate more freely without the added stress of unexpected mishaps.
Types of Nonprofits
It is important to understand what types of organizations count as a non-profit that may be eligible for this type of coverage. Nonprofits often share the following characteristics:
The primary purpose is to serve the public
Many provide charity
Any revenue is meant to fund employee wages and supplies
They are typically run by a board of directors
If your organization fits the criteria for non profit insurance New York agencies may offer you special coverage that addresses your exposures. For a step in the right direction, you can contact a representative from an agency that specializes in this field.