Working With Nonprofits

by Dave Binsfeld, Brian Walker, Beth Jo Zeitzer

There are many ways for a business to contribute to our great nonprofit enterprises. Some of the simplest ones are writing a check or gifting goods and services. One way we help nonprofits is by working with them and taking the time to guide them in the world of risk management. In most cases, the revenue we earn handling their insurance isn’t enough to cover our costs, but it is immensely gratifying to contribute our knowledge and experience. It feels good to give a nonprofit that peace of mind, so it can stay focused on its mission.

—Dave Binsfeld, General Southwest Insurance Agency

When discussing the accounting and budgeting requirements for nonprofit organizations, most people, not familiar with the industry, assume that all nonprofits are similar in how they operate. However, there are many segments within the nonprofit industry, with each segment having its own important elements.  Health and human services, K-12 education, food banks, arts and cultural, foundations, higher ed., conservation, and associations are a few examples of these segments. I think understanding the unique requirements within these segments is what enables a company to provide valuable products and services to the nonprofit sector.

—Brian Walker, Questica

Nonprofits are businesses, and require all the same services that for-profit companies require. Working with nonprofits can be very rewarding for a variety of different reasons, including their passion for their cause and their community-building focus. Additionally, they are very open to advisory services, and take the time and deploy the analytical skills to make sound business decisions, when equipped with the research and tools to do so.

—Beth Jo Zeitzer, Esq., R.O.I. Properties

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