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Table Of Contents

Managing Risk in the Nonprofit Sector
The Nature and Purposes of Risk Management
Why Manage Risk in a Nonprofit?
Asset Stewardship
Achieving Public Accountability
Attracting Stakeholders
Freeing Up Resources for Mission
Staying True to Mission
Key Starting Points: Risk, Uncertainty, and Loss
What Is Risk?
What Is Uncertainty?
What Is Loss?
Assigning Responsibility for Risk Management
The Risk Management Process
Step 1: Establish the Context
Step 2: Appraise Risks
Step 3: Decide What to Do and Communicate
Step 4: Act on Your Decision
Step 5: Follow Up and Adjust
Managing Risk for Mission Fulfillment
Recognizing the Context for Risk Management
Risk Management Context
Organizational Context
Strategic Context
Property Risks
Types of Property Subject to Loss
Tangible Property
Economic Perils
Financial Impact of Property Losses
Cost to Replace
Loss of Income
Mission-Critical Consequences of Property Losses
Methods of Identifying Potential Property Losses
1. Standardized surveys or questionnaires
Standardized Surveys or Questionnaires
Loss Histories
Financial Statements and Accounting Records
Other Records and Documents
Flowcharts
Personal Inspections
Internal and External Expertise
Scenario (What-If) Analysis
Income Risks
Definition of Income Loss
Values Exposed to Loss
Decreases in Revenues
Increases in Expenses
Events Causing Losses of Income
Property Losses
People Losses
Reputation Losses
Liability Losses
Dimensions of Net Income Losses
Probability
Magnitude
Predictability
Methods of Appraising Potential Net Income Losses
Standardized Questionnaires
Financial Statements and Records
Legally Protected Interest
Performance of Contractual Promises
Personal Safety
Freedom of Movement
Protection of Property
Security of Reputation
Right of Privacy
Economic Freedom
Community Protection from Crime
Wrongful Invasion
Breaches of Contract
Torts
Crimes
Common and Statutory Law
Common Law
Statutory Law
Responsibility
Harm Directly Caused
Remedies for Crimes
People Risks
People Exposed to Loss
Perils Threatening a Nonprofit’s People
Death
Termination
Retirement
Disability
Gradual Loss of Ability
Catastrophe (Multiperson) Events
Loss of Dedication
Loss of Personal Resources
Consequences of These Perils
Financial Consequences
Mission-Critical Consequences
Reputation and Mission Risks
Funding and Revenue Issues
Client Base and Eligibility for Services
Programmatic Focus
Reputation Risk
Risk Issues—Reputation
Implications of Damage to the Nonprofit’s Reputation
Economic
Intellectual Capital
Public Confidence
Case 1: River Daycare Center
Case 2: The Knoll Elementary School
Case 3: Blue Chip Animal Shelter
Staff Behavior and the Nonprofit’s Public Image
Short-Term Assignments
Risk Issues in Short-Term Assignments
Long-Term Assignment Volunteers
Volunteer Orientation Curriculum Components
Management and Supervision of Volunteers
Administration and Record-Keeping
Volunteer Handbook
Strategies for Managing Risk in a Volunteer Program
The Nature of the Governance Role
Volunteer Protection Laws
The Duty of Care
The Duty of Loyalty
The Duty of Obedience
Primary Risk Areas
Strategies for Dealing with Risk Areas
Membership: Structure and Composition of the Board
Board Meetings and Committee Meetings
Orientation Session for New Board Members
The Nature of the Fiduciary Role
Balance Sheet
statement of revenues and expenses 177
Statement of Revenues and Expenses
Statement of Changes in Net Assets
Statement of Cash Flows
Financial Statement Analysis
Financial Ratios
Liquidity Ratios
Profitability Ratios
Asset Management Ratios
Debt Management Ratios
Defining “Vulnerable Populations”
Programs Serving Vulnerable Populations
Primary Risk Areas in Serving Vulnerable Populations
Strategies for Dealing with Primary Risk Areas
Human Resource Management
Training and Job Orientation
Supervision
Helping Families and Staff Deal with Abuse
Ensuring Safe Facilities
Range of Service in Transporting Clients
Risk Areas in Transporting Clients
Elements of the Transportation Program
Core Values
Clients
Introducing the Program to Potential Clients
Licensing of Drivers
Vehicles
Document Management
Emergency Procedures
Summary
Collaboration: How and Why?
Informal Collaboration
Strategic Restructuring
Mergers
Phase I: Before a Partnership Begins
Phase II: During a Partnership
Phase III: After the Partnership Concludes
Collaborating with Insiders
Risk Management Strategies for Familiar Collaborations
Business—Nonprofit Collaborations
Insurance Considerations and Checklist
Drafting a Memorandum of Understanding
Financing Risk Management Activities
Establishing a Risk Financing Strategy
Appetite for Risk
Allocation of Resources
Post-Loss Goals
Risk Financing Techniques
Retention
Contractual Transfer
Why Does a Nonprofit Need an Insurance Professional?
Fee or Commission? The Compensation Debate
10 Strategies for Financing Risk Responsibly
1. You Cannot Insure Everything
Liability Insurance Policies
Property Insurance Policies
Crime Coverage
Hybrid Liability/Property Policies
Alternative Risk Financing
Epilogue: A Risk Management Decalogue
Glossary
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Managing Risk in Nonprofit Organizations

Managing Risk in Nonprofit Organizations

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Published by M. Umar Ejaz

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Published by: M. Umar Ejaz on May 11, 2011
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