1. Risk Management

2. Forming a 501c3 Org
Best choice for MEAs and Booster Clubs, most lucrative tax saving benefit
Establish Nonprofit corporation at State level, Articles of Incorporation
Offers some degree of liability protection
Create Employer Identification Number
Complete IRS Form 1023, EZ version if less than 50K in gross annual revenue. 90 Day wait on EZ, about 180 Days on Long form.
State Charitable Solicitations Registration
State Corporate Tax Exemption
State Sales Tax Exemption
File IRS 990 Form

3. Attorney
Have one
One with expertise in nonprofit law and experience with event and hotel contracts.
Use them
Listen to them

4. General Liability Coverage
“Slip and Fall” Coverage
Accidents on association premises or at conferences
Usually required at larger hotels/conference centers
Larger the event, seek more coverage
Prices based upon size, attendees and claims history
Resources to follow

5. Event Cancellation Coverage
What is Covered
Hurricanes
Tornadoes
Blizzards
Ice storms
Earthquakes
Forest fires

6. Event Cancellation Coverage
What May Be Covered
Terrorism
Time Limitations
Number of days after attack
Distance from epicenter of attack
Negotiate
Limits options
Full Terrorism Options

7. Event Cancellation Coverage
What May Be Covered
Labor Actions/Strikes
Airlines
Hotels/Shipping Services
Increasingly common
Business Personal Property
Booths, IT equipment, major giveaways
Onsite cash
Speaker Cancellation
A large, well known keynoter
Loss or theft
Negotiate

8. Event Cancellation Coverage
What is Not Covered
Financial Insolvency
Lack of Interest
Disease Outbreak
War
Nuclear, Biological or Chemical attacks
Unless specified within terrorism coverage
Fear of Travel
What if?

9. Event Cancellation Coverage
What it Provides For:
Anticipated profit
Incurred expenses
Returns of sponsorships
Exhibitor fees
Costs to reschedule
Additional marketing expenses

10. Event Cancellation Coverage
Resources/Providers
ASAE Aon Association Services
Buttine Association Exhibition Insurance

11. Directors and Officers Coverage
As mentioned in Fiduciary Responsibility session, Directors and Officers are personally liable.
What it covers:
Anti-Trust
Disputes stemming from conflicts of interest
Membership actions
Misuse of finances/poor financial decisions
Defamation
Allegations of favoritism in contracting

12. Directors and Officers Coverage
What to look for:
Duty to defend provisions
Think of your reputation and its value
Financial rating of the underwriter
Claims filing procedures/documentation
Make sure you have update carrier with names of current officers
Resources
ASAE Aon Association Services
Travelers Insurance