Connect With Us
YouTube
RSS

« [Review] Getting Beyond Better: How Social Entrepreneurship Works | Main | Weekend Link Roundup (February 13-14, 2016) »

[Infographic] Questions Nonprofits Should Ask to Assess Their Risk Management Practices

February 13, 2016

If, like the majority of Americans, you have some (or most) of your retirement savings invested in stocks, the last month and a half has been disconcerting (to say the least). The same is true for nonprofit organizations, which count on grants from endowed private foundations and deep-pocketed individual donors to fund key initiatives and, in many cases, keep the lights on. As anyone who was around in 2008, 2002-03, or the early 1990s can tell you, however, when stock portfolios fall in value, foundation grantmaking and individual giving are quick to follow. And volatility in revenue streams is just one of the many organizational risks the typical nonprofit faces.

What's a nonprofit executive to do? The worst thing he or she can do is to do nothing. As Ben Franklin liked to say: "By failing to prepare, you are preparing to fail." So, how does one prepare for risks, both known and unknown, that lie in wait for even the best-managed organization? As the infographic from our friends at accounting giant BDO's global forensics unit reminds us, ask questions. Lots of them.

Infographic_risk_management

Does your nonprofit devote time and resources to risk management? What advice would you give to a freshly minted executive director who finds herself too busy to worry about things she has no control over? Inquiring minds want to know...

And, hey, as Sgt. Phil Esterhaus, the character played by actor Michael Conrad in the hit '80s police drama Hill Street Blues, might say: "Let's be careful out there." 

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Contributors

Quote of the Week

  • "They were careless people. They smashed up things and creatures and then retreated back into their money or their vast carelessness or whatever it was that kept them together, and let other people clean up the mess they had made...."

    The Great Gatsby, F. Scott Fitzgerald (1896-1940)

Subscribe to Philantopic

Contributors

Guest Contributors

  • Laura Cronin
  • Derrick Feldmann
  • Thaler Pekar
  • Kathryn Pyle
  • Nick Scott
  • Allison Shirk

Tweets from @PNDBLOG

Follow us »

Tags

Other Blogs