Nonprofit Insurance Digest

The Role of your Broker in your Nonprofit Insurance Program

  I work with a broad scope of nonprofit organizations across the country and find that some folks still don’t fully understand the role of their insurance broker in their nonprofit insurance program.  Ideally, your insurance broker acts as a professional consultant to your nonprofit. He or she works with the organization to understand the risks it faces and then helps to determine the best […]
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How to Conquer the Top Legal Risks Facing Nonprofit Boards

Legal risks are not unique to for-profit organizations. Non-profits can find themselves in a variety of legal entanglements in they aren’t careful. The best way to prevent these risks is to understand them. From there, nonprofits can implement strategies to manage these risks. The following are the top legal threats facing nonprofit boards. Social media. All businesses rely on social media, […]
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How to Handle Nonprofit Risk Management

Nonprofits differ from for-profit organizations in several ways – some more subtle than others. Yet all businesses are exposed to a number of risks. Every business, no matter its aims, has a unique risk profile. Unlike their for-profit counterparts, many nonprofits lack the appropriate degree of risk management. In fact, less than a quarter of nonprofits have a dedicated risk manager. This is a […]
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Is Your Nonprofit Making These Budget Mistakes?

Many individuals start a nonprofit to solve a social problem. However, having passion for a cause is not enough to guarantee success. Building a prosperous nonprofit from the ground up is not for the faint of heart. While nonprofits often have an admirable goal at their core, they need to put in as much effort into running their organization as for-profit companies do. The following are some of […]
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Are You Doing Enough to Protect Your Volunteers?

People who volunteer often do so because they receive an emotional or practical benefit. While volunteers play a critical role in the operation of many nonprofit organizations, they do pose unique risks. As the shortage of reliable volunteers grows, nonprofits need to consider the risks their unpaid staff pose as part of their overall risk management strategy. The following are several risks that […]
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Non Profit Risk Management in 2018

Many nonprofits inadvertently overlook the risks that threaten their volunteers, workers, and organization as a whole. This is not to say nonprofits need be more vigilant than for-profit organizations; but rather that it’s crucial to prepare for the risks unique to their field of work. Volunteer Injuries State laws require for-profit organizations to provide workers’ compensation insurance. […]
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