The 4th of July holiday is a nostalgic one for most of us. I remember churning homemade ice cream with my father and the excited anticipation of the fireworks. Most of us have similar memories and think the Independence Day holiday as the heart of summer activities. Many nonprofit organizations host events and fundraisers centered […]
Nonprofit organizations need several types of insurance coverage to protect themselves, their interests, and their employees from lawsuits. Some examples include general liability insurance, workers compensation insurance, property insurance, and more. When beginning the insurance coverage process, most nonprofit leaders ask about directors and officers (D&O) insurance first. Many leaders view D&O policies as catchalls […]
Legal risks are not unique to for-profit organizations. Non-profits can find themselves in a variety of legal entanglements in they aren’t careful. The best way to prevent these risks is to understand them. From there, nonprofits can implement strategies to manage these risks. The following are the top legal threats facing nonprofit boards. Social media. […]
Improper sexual misconduct has taken center stage as countless individuals have come forward with intolerable accounts of harassment and abuse. While nonprofits may believe they are safe from such legal entanglements, recent headlines suggest otherwise. Some of the most shocking charges against nonprofit organizations include: USA Gymnastics came under fire after hundreds of girls came […]
Nonprofits differ from for-profit organizations in several ways – some more subtle than others. Yet all businesses are exposed to a number of risks. Every business, no matter its aims, has a unique risk profile. Unlike their for-profit counterparts, many nonprofits lack the appropriate degree of risk management. In fact, less than a quarter of […]
Many individuals start a nonprofit to solve a social problem. However, having passion for a cause is not enough to guarantee success. Building a prosperous nonprofit from the ground up is not for the faint of heart. While nonprofits often have an admirable goal at their core, they need to put in as much effort […]
It’s true that nonprofits function in several different ways than their for-profit counterparts. However, when it comes to human resources, the issues are similar. The biggest dissimilarity is nonprofits have less money and resources to manage them. Thankfully, this challenge is surmountable. The following are several suggestions for HR professionals to manage their nonprofit’s challenges […]
Nonprofit leaders may think hackers have no interest in them, but this is a false assumption. Any organization that contains private data such as credit card numbers is at risk. In fact, any nonprofit that receives charitable donations represents a lucrative target to cyber criminals. Donor information is a veritable goldmine for hackers. Nonprofits rely […]
Nonprofits need insurance as part of their risk management strategy. However, buying insurance is not as simple as many organizations think. Nonprofits need to consider the risks specific to their mission and environment. Speaking with a knowledgeable insurance agent will help, but it is good to know some basics before beginning the insurance process. The […]
Many nonprofits don’t think of fundraising as an inherently risky process. This is in large part because two different departments handle risk management and fundraising. When these two teams operate without consulting one and other, it creates the potential for risky situations. Any organization relying on donations needs to familiarize themselves with the top fundraising […]