The Wall Street Journal reports that the New York Marathon has just purchased cancellation insurance.  The article notes that historically, marathons may not have been that "high stake" but the New York Marathon, organized by the nonprofit New York Road Runners Foundation brings in $20 million a year.

The New York Road Runners Foundation provides "running-based physical education programs that teach fitness, goal-setting and the relationship between effort and achievement, while helping youth develop the self-esteem, healthy habits and discipline necessary for success in school, the workplace and life".  The Marathon is its primary source of income.

Good "nonprofit" governance to spend the bucks on cancellation insurance -- I would say so.