Risk Assessment

One of the most popular services offered by NRMC is an independent Risk Assessment. Our independent Risk Assessment will help you uncover critical operational risks your organization faces today and ways for your team to proactively address future uncertainty with confidence.

If a comprehensive risk assessment sounds overwhelming, take comfort that an engagement with NRMC will require a minimal time commitment from your team. We do all the heavy lifting! Typically, we’ll begin with an information-gathering meeting and kick-off, which can be virtual or in-person, depending on what’s best for your organization. This one-hour meeting establishes the project scope, reviews deliverables, and sets the stage for our engagement. Often, our client’s core project team participates in the kick-off meeting. However, some kick-offs involve a larger group and are used as an opportunity to introduce a team to risk management terms and concepts and build buy-in for the engagement.

After the kick-off meeting, the project team from NRMC will interview 10-30 key constituents (a sampling of staff and board members, and sometimes program participants or other interested parties) to learn diverse perspectives on the critical risks facing the organization. These no-pressure conversations typically last 45 minutes and require no advanced participation from your team. In addition, our team will request and review documents and materials that provide important background information on your nonprofit’s risk landscape and operations.

After completing the interviews and review of materials, NRMC will deliver a report containing your nonprofit’s current critical risks, a narrative describing your dynamic risk landscape, commentary on the adequacy of existing risk management activities, a suggested framework for surfacing and managing future threats and opportunities, and specific recommendations for evolving the nonprofit’s commitment to understand and manage the risks that could be disruptive to mission success. We will work with you to ensure these recommendations are practical and fit your unique organizational culture and structure. Prior to wrapping up an engagement, the NRMC team is available to brief leadership, management, operational, and oversight teams. These briefings can be helpful as you build support for the priority action steps recommended by NRMC.

If you have questions about the adequacy of your insurance coverages, we also offer Insurance Coverage Reviews as an add-on service. Insurance Coverage Reviews incur an additional cost and may be conducted at the same time as a Risk Assessment or as a separate engagement.

An independent Risk Assessment increases the confidence of stakeholders and inspires practical action to position the nonprofit for continued success.

NRMC’s fee may be higher depending on the project scope. For example, for large nonprofits, an additional fee applies if we conduct a thorough review of your insurance portfolio. We also offer a Limited Scope Risk Assessment for $13,400. This engagement focuses on two to three areas of concern.