Tuesday, February 15, 2011

Are You a Risk-Aware Nonprofit?

When I first heard the term "risk-aware nonprofit" I got this image of an
organization that attempted to isolate itself from any possible loss or
risk. When I read the first Hallmark of a risk-aware nonprofit was to "Takes
More Risks Than It Avoids", I knew I was off track in my thinking. Over the
past two years, the Nonprofit Risk Management Center convened and consulted
risk management experts from the nonprofit sector to identify 12 hallmarks
of a risk-aware nonprofit organization, along with practical strategies and
tools to help turn your organization into one that manifests the hallmarks
of a risk-aware nonprofit.

This Hallmarks tool was developed to provide thoughtful guidance to board
and staff members around an area that is too often relegated to "I'm pretty
sure the Finance Committee and staff are on top of our insurance needs." The
website provides both an overview and some detail in each area to allow your
organization to more clearly evaluate whether you are responsible risk

Hallmark #1: Takes More Risks than It Avoids

Hallmark #2: Heralds A Risk Management Champion

Hallmark #3: Guided By Reality, In Addition To Scary Headlines

Hallmark #4: Is Bold But Smart

Hallmark #5: Cultivates a 'Can-Do' Attitude Among Paid and Volunteer Staff

Hallmark #6: Sees the Whole Iceberg Not Just the Tip

Hallmark #7: Understands that Hindsight Isn't 20:20, But It's Better than a

Hallmark #8: Tells It Like It Is

Hallmark #9: Is Transparent with Insurance Partners

Hallmark #10: Values the Journey, Not Just the Destination

Hallmark #11: Engages the Board in Their Battle

Hallmark #12: Looks at Risk from Everyone's Perspective

Read more about each Hallmark at:

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