By: Advocate Brokerage
There are many organizations dedicated to helping improve the quality of life worldwide. We, Advocate Brokerage, would like to take the time now to inform you about what nonprofit organizations, or NPOs as they are sometimes called, are and how they function because we actively support many nonprofit organizations while also protecting them from losses with our comprehensive and personalize #nonprofitorganization insurance policies.
The term nonprofit organization (not a legal or technical definition) generally refers to an organization using all of its revenues after expenses to ultimately achieve non-business related goals rather then distribute them as profits or dividends. NPOs may be charities or service organizations and may be organized as corporations, trusts, cooperatives, or can exist informally. Many nonprofit organizations chose to organize and form as a corporation by filing bylaws and/or articles of incorporation to be considered, by law, a corporation. Allowing the nonprofit organization to enter into business dealings, form contracts, and own property just as any for-profit corporation can.
Typically, social problems are very large in scale and difficult to tackle on an individual basis, Nonprofit organizations employ combinations of paid management, unpaid volunteers, and even executives who work without compensation (or work for a token fee, such as $10 per year) to help those in need. Token fees are used to establish a contract between an executive and the organization to meet legal requirements. Such organizations can include thousands of global employees and also often operate vehicles and equipment vital to the function of the organization.
The needs of nonprofit organizations are very specialized, reflecting the problems they work to correct. That is what makes #AdvocateBrokerage uniquely qualified to #insure nonprofit organizations and their employees. We work hand in hand with such customers to understand exactly what their specific needs and goals are in order to develop #insurancepolicies that fulfill all of those needs. Please contact us for more information about how we can protect your nonprofit organization and the peace of mind to focus on helping those in need.
Post written by DGI.