Risk Assessments for Nonprofits
Through interviews with key stakeholders, review of written policies and procedures, and a visit to the nonprofit’s headquarters, the Center’s staff identifies and prioritizes critical risks facing the organization and offers detailed, practical suggestions to protect an organization’s mission and assets. Our goal is to help leaders better understand the nature of risk in their organizations and inspire confidence to cope with the inevitable uncertainty that every organization faces.
A successful Risk Assessment increases the confidence of stakeholders and inspires practical action that positions the nonprofit for continued success. While most organizations pay for the cost of a Risk Assessment with operating funds, in some cases third-party funding, such as a grant from a foundation may be available to offset the cost. Or the nonprofit’s insurance provider may be willing to underwrite a portion of the cost of the assessment.
For most clients, the Center’s fee to conduct a comprehensive Risk Assessment is $16,800. The fee for the Risk Assessment will generally include an Insurance Coverage Review at no additional cost. For very large nonprofits or those with complex insurance programs an additional fee will be required to conduct a thorough coverage review and analysis.
Click here to view a partial client list.
The board and staff of the Prince George’s Child Resource Center are extremely pleased with the results of the risk assessment conducted by the Nonprofit Risk Management Center. A thorough scan revealed that while we are a well run organization, we had risks that we never imagined. We are grateful to know that we have now minimized our organizational risks and recommend the Center to other nonprofits.
Marti Worshtil, Executive Director, Prince George’s Child Resource Center
BBYO's engagement of the Center to conduct a risk assessment was one of the most valuable processes undertaken over the past five years. Numerous programmatic and procedural changes were recommended and have since been implemented. Additionally, dozens (literally) of coverage gaps were identified that would never have been without the work of the Center. This assessment led to a broker bidding process that resulted in BBYO's selection of a new broker that we have been extremely satisfied with over the past two years. I unconditionally recommend the Center for their consultative services.
Sidney Abrams, Director of Administration, B'nai B'rith Youth Organization
Our decision to ask Nonprofit Risk Management Center to undertake a risk assessment for the Hinton Rural Life Center was one of the best decisions that we could have made. The consultation was very thorough and thoughtful. It was conducted in a professional and friendly style. The consultation helped our staff and board focus on several critical issues regarding our insurance coverage, personnel policies, and other risk factors. In addition, the Nonprofit Risk Management Center has continued to offer guidance and suggestions as we have tried to implement changes in our operations. This consultation was some of the best money we have ever spent. I would recommend it to any nonprofit organization, without reservation.
Clay Smith, President/CEO, Hinton Rural Life Center, Inc.