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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
December 2, 2016
Resource Type: Articles, Risk eNews
Fiscal Responsibility and Oversight: Empower Your Board to Lead
(This article is excerpted from the book, Financial Risk Management: A Guide for Nonprofit Executives. While it is rare in a mature nonprofit for a board member to perform day-to-day bookkeeping or financial management duties (such as making journal entries or...
Topics: Fraud and Financial Oversight, Governance
December 2, 2016
Resource Type: Articles
Myths of Volunteer Risk Management, Part 2
This is the second of a series on common myths associated with the risks of using volunteers in nonprofit organizations. We’ll look at each myth for its impact on liability assessment, the purchase of insurance, and risk management planning. Myth...
Topics: Insurance and Risk Financing, Volunteer Risk Management
December 2, 2016
Resource Type: Articles
Myths of Volunteer Risk Management, Part 1
This is the first of a six-part series on common myths about the risks of using volunteers in nonprofit organizations. We’ll look at each myth for its impact on liability assessment, the purchase of insurance, and risk management planning. Myth...
Topics: Volunteer Risk Management