Need for D&O insurance for a small non-profit?
I have started a small non-profit. I am very fresh to the game, and I understand there are mixed feelings about the need for D&O insurance.
In past forums, it seemed to be a mix of people who said it was required, despite it being a large portion of the overhead expense, as a legal safety net. While others argue that it depends on the level of risk posed by your services.
I wanted to get any opinion.
We are a small team that provides biannual climate kits for extreme weather (Ice events/prolonged 100+ heat) to the unsheltered population here in DFW.
We also advertise more permanent services from local community programs and churches(how we get our funding)
We had a successful winter pilot phase, expanded, and are aiming to provide kits to 25% of the unsheltered population this summer.
Given that our kits only include safety, hydration, and hygiene items, community flyers, and that the target population is homeless, should we get insured?
We give about $3,000 in supplies yearly, but there is a lot of room for growth
If so, what's the practical solution?
As I said, any opinions or recommendations are welcome.