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December 2, 2016
Resource Type: Articles
Managing Restricted Grants: Routine or Risky Business?
The article below was adapted from Mission Accomplished: A Practical Guide to Risk Management for Nonprofits, published by the Nonprofit Risk Management Center. For more information about NRMC's book, click here. (Mission Accomplished has been replaced by Enlightened Risk Taking:...
Topics: General
December 2, 2016
Resource Type: Articles
May board members be reimbursed for their expenses?
There are no laws that would prevent a charity from providing compensation to board members for their board service, but the majority of public charities do NOT compensate their board members. More typical is for board members to be reimbursed...
Topics: General
December 2, 2016
Resource Type: Articles
The Nitty Gritty of a Risk Committee
“Let’s form a committee!” is the frequent battle cry of nonprofit leaders facing a complex problem for which there are no obvious, immediate or cheap solutions. When more than one brain is needed to ponder a perplexing problem, forming a...
Topics: General
December 2, 2016
Resource Type: Articles
“Everything’s Fine? We’ve Got Insurance!”
Have you heard these jubilant words from your staff or board lately? Even worse, do you comfort yourself with this thought whenever some accident strikes your nonprofit? If so, then everything definitely is not fine within your risk management program....
Topics: Insurance and Risk Financing
December 2, 2016
Resource Type: Articles
New Year, New List Five Risk Management Resolutions for Your Nonprofit
Five Risk Management Resolutions for Your Nonprofit During a recent airline trip I opened the in-flight magazine and saw an ad for an expensive piece of exercise equipment that promised an effective cardiovascular workout with only four minutes of effort....
Topics: General
December 2, 2016
Resource Type: Articles
New Resources Emerge from Collaboration
A recent collaboration between ChoicePoint and the Nonprofit Risk Management Center has led to the creation of a Risk Management ToolKit for customers of ChoicePoint’s state of the art background checking services. As part of the company’s continuing efforts to help nonprofits...
Topics: General
December 2, 2016
Resource Type: Articles
IN is OUT, and OUT is IN Outsourcing the Finance or Accounting Function in a Nonprofit
Fiscal Outsourcing Outsourcing financial tasks has become a popular trend in the nonprofit sector. Common reasons nonprofit leaders outsource some or all of their financial management responsibilities include: to gain access to expertise the nonprofit doesn’t require on a full-time...
Topics: Fraud and Financial Oversight
December 2, 2016
Resource Type: Articles
New Electronic Filing Requirement for Small Tax-Exempt Organizations
Annual Electronic Notice — e-Postcard (Form 990-N) Striving to comply with local, state and federal laws is a first step in managing risk well. Acceptable excuses for noncompliance do not include: “I didn’t know.” The penalty for noncompliance may be...
Topics: Governance
December 2, 2016
Resource Type: Articles
New Audit Standards May Feel Like a Foreign Landscape
Has your auditor given you a call about the new audit standards under Statement on Auditing Standards, No. 112 (“SAS 112”)? Officially known as “Communicating Internal Control Related Matters Identified in An Audit,” the new requirements will be unfamiliar to many...
Topics: Fraud and Financial Oversight
December 2, 2016
Resource Type: Articles
Myths of Volunteer Risk Management, Part 3
This is the third in a series of articles concerning myths about volunteer liability. This installment covers the concept of agency as it relates to volunteer activities and how an organization should address its potential liability for the actions of...
Topics: Volunteer Risk Management