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 […]
People who volunteer often do so because they receive an emotional or practical benefit. While volunteers play a critical role in the operation of many nonprofit organizations, they do pose unique risks. As the shortage of reliable volunteers grows, nonprofits need to consider the risks their unpaid staff pose as part of their overall risk […]
Many nonprofits inadvertently overlook the risks that threaten their volunteers, workers, and organization as a whole. This is not to say nonprofits need be more vigilant than for-profit organizations; but rather that it’s crucial to prepare for the risks unique to their field of work. Volunteer Injuries State laws require for-profit organizations to provide workers’ […]
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 […]
7 out of 10 claims can be avoided by using simple risk management techniques. It might seem counterintuitive, then, that many nonprofits don’t adopt risk management policies. Sometimes thinking about risk management goes to the bottom of everyone’s “to do” list.
Non-profits no doubt offer valuable services to their communities. Unfortunately, their good deeds do not make them immune to the risks of managing a business. The same risks apply to nonprofits as they do to for-profit organizations. In fact, nonprofits and social services organizations may even be at a higher risk of claims and liabilities […]
It may seem a little odd that an insurance broker would suggest that nonprofits employ risk management processes other than buying insurance. But what many brokers fail to tell their clients is that insurance is just one component of an overall risk management plan. As important as insurance is, it can only offer just so […]