Fiscal Sponsor Organizations

  • 1.  Insurance Costs

    Posted 09-01-2024 01:33

    After 20 years of advocacy work, our nonprofit pivoted to fiscal sponsorship this year. Our general liability policy we’ve had with West Bend Mutual was approximately $4,000 a year until now. West Bend was going to drop or limit our coverage so we had our broker approach the Nonprofits Insurance Alliance Group. We just got an offer of coverage from them but they’re quoting us $11,000 a year. I’m just super curious if this is around the average other fiscal sponsors pay for general liability. It just seems super high considered we’re requiring our Model C partners carry their own insurance.



  • 2.  RE: Insurance Costs

    Posted 09-06-2024 12:03
    Yes, Sara, we have experienced the same pattern that insurance costs with NIAG has been higher than what other companies are able to offer. And from my conversation with insurance agent a week or so ago, they confirmed the same. I would suggest that you work with your insurance agent to look at a few other options, and please note that the list of insurance providers that fiscal sponsors utilize could be found in the Field Scan, which might be a helpful resource for your agent too. https://www.socialimpactcommons.org/fiscal-sponsor-field-scan-2023


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