Risk management does not represent the most exciting or inspiring part of a nonprofit organization’s work. However, it is as crucial as any other task a nonprofit undertakes, because good risk management ensures that the nonprofit will have enough assets to carry out its mission. It also ensures that the nonprofit’s actions will not harm the client population it is trying to serve, the general public, or the organization’s employees and volunteers. In order to assist your nonprofit in developing a risk management plan, the D.C. Bar Pro Bono Program has developed a guidebook that discusses the basics of risk management, including:
• steps that will help you identify the risks your organization faces as a result of its day to day operations;
• strategies that will help your organization minimize these risks; and
• information about how your organization can insure against these risks.
Please note that in addition to the legal disclaimer above, this article contains information that is based, in whole or in part, on the laws of the District of Columbia. As a result, the information may not be appropriate for organizations operating outside the District of Columbia.Webinar 8: Risk Management and Insurance