Managing Risk in Nonprofit Organizations: A Comprehensive Guide - Hardcover

Melanie L. Herman; George L. Head; Toni E. Fogarty; Peggy M. Jackson

Hardcover

ISBN 10: 0471236748 ISBN 13: 9780471236740

Publisher: Wiley, 2003

Synopsis

Managing Risk in Nonprofit Organizations explains and defines risk management, especially as it applies to nonprofits. It provides comprehensive guidance on such topics as identifying risk, prioritising risk, selecting appropriate risk management techniques, implementing risk management techniques, monitoring risk management, and financing.
* Includes diagrams of the risk management cycle and dimensions of risk graphic
* The nature of these unique risks and the special challenges facing a nonprofit that embarks on a risk management program will also be addressed.
* Written by two leaders at the Nonprofit Risk Management Center, a management assistance organization that provides informational resources, technical assistance, and training to an estimated 20,000 nonprofits annually

About this title

From the Inside Flap

Too often, nonprofit managers unwittingly adopt an unrealistic attitude toward risk management. They acknowledge the risks inherent in the nonprofit business–from serving a vulnerable population while using volunteers to deliver services, to relying on the kindness of strangers for donations to meet payroll and other expenses. Yet their risk management strategy seeks only to avoid or eliminate risk. Not only does this stance fail to account for the fact that many risks in nonprofit work are plainly unavoidable, but it further fails to recognize the inherently positive component of risk-taking. An organization that designs its risk management activities solely around the goal of minimizing or avoiding risk will miss out on opportunities to strengthen the organization’s assets, offer more meaningful services to individuals or a wider community, and attract a steadily growing constituency of donors, supporters, and volunteers. Four leaders from the Nonprofit Risk Management Center explain how to minimize the negative and maximize the positive consequences of risk-taking in Managing Risk in Nonprofit Organizations: A Comprehensive Guide.

The team of expert authors analyzes every facet of the risk management process, including identifying and prioritizing risk, selecting and implementing risk management techniques, and monitoring risk management for the long term. They begin by highlighting five reasons why risk management should be a top priority for all nonprofit personnel, from the governing board to unpaid volunteers:

• Asset stewardship
• Achieving public accountability
• Attracting stakeholders
• Freeing up resources for mission
• Staying true to mission

The authors systematically explain how risk management can be leveraged in a time-sensitive manner in each of these and other areas, recognizing the myriad pressures and competing concerns that every nonprofit staff faces. Diagrams of the risk management cycle and "dimensions of risk" graphics further illustrate process implementation.

Risk management should be viewed not as a bit of unpleasant housekeeping, but rather as an opportunity to achieve your organization’s full potential. With this practical guide, nonprofit managers will learn how to reap the considerable benefits that proper risk management has to offer.

From the Back Cover

Learn how to manage and leverage risk

Like all organizations in today’s volatile marketplace, nonprofits are under tremendous pressure to be more accountable for their operations, specifically to funders, donors, clients, and the public at large. Proper risk management can not only help nonprofits create a sound and transparent financial structure, but also exploit new development opportunities that may not otherwise be realized. Managing Risk in Nonprofit Organizations shows managers how to implement sound risk management procedures in every aspect of their organization.

The authors divide their guide into three sections–The Nature and Purposes of Risk Management, Recognizing the Context for Risk Management, and Risk Financing for Nonprofits. A large array of potential risks is covered, including:

• Human resource issues
• Fundraising
• Internet use
• Mergers
• Volunteer management

Senior level managers and executives at nonprofits, board members, and professional risk managers will find Managing Risk in Nonprofit Organizations to be an invaluable guide to this vital topic.

Edition details

• Publisher: Wiley
• Publication date: 2003
• ISBN 10: 0471236748
• ISBN 13: 9780471236740
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 336