Non-profit Frequently Asked Questions

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Previously Asked Questions

Insurance

If we go the route of non profit then 501(c)(3) will we still look to acquire insurance to protect members, officers, and assets? (Or does the designation cover it?)

  • Although incorporating does offer limited liability protections, insurance coverage is needed for the guild’s equipment and other physical assets. LibertyTown’s insurance coverage only protects us (the guild) against injury claims. If something were to happen to the guild’s equipment or library, for example, we would not be able to replace or repair those items under LibertyTown’s insurance.