Resource Results for "Finance Risk and Oversight"
Is Financial Oversight Your Weakest Link?
By Melanie Lockwood Herman This week I finished reading a terrific new book, Money Matters for Nonprofits: How Board Members Can Harness the Power of Financial Statements by Understanding Basic Accounting, by Melisa F. Galasso. Melisa kindly sent me a copy after learning about NRMC from a friend, who spoke at this year’s Virtual Risk … Continued
Heads Up: Why Fortified Fiscal Oversight is Key to Financial Well Being
By Melanie Lockwood Herman During the past 15 years, I’ve been honored to serve as a volunteer board member for several organizations. My first board role was for a community-based organization in the small village where I live. I had long admired the nonprofit’s historic preservation and conservation mission, and when the invitation to consider … Continued
Examining Fiscal Risk for Mission-Minded Success
By Whitney Claire Thomey Powerful missions, community advocacy, and life-changing programs can only happen when nonprofits have sufficient financial resources and strong financial management. Sound financial decisions and financial risk management protect critical assets and make it possible for a nonprofit to deliver the services and programs that bring a charitable mission to life. However, … Continued
Examining Fiscal Risk for Mission-Minded Success
By Whitney Claire Thomey Powerful missions, community advocacy, and life-changing programs can only happen when nonprofits have sufficient financial resources and strong financial management. Sound financial decisions and financial risk management protect critical assets and make it possible for a nonprofit to deliver the services and programs that bring a charitable mission to life. However, … Continued
The World of Nonprofit Finance Risk
by Melanie Lockwood Herman and Whitney Thomey Myriad situations make up the world of nonprofit finance risk. The image above illustrates some of the common preventable, strategic, and external sources of risky financial situations nonprofit finance leaders may encounter. We offer the following recommendations for fortifying your organization against downside effects. Uncover What are the … Continued
Heads Up: Why Fortified Fiscal Oversight is Key to Financial Well Being
By Melanie Lockwood Herman During the past 15 years, I’ve been honored to serve as a volunteer board member for several organizations. My first board role was for a community-based organization in the small village where I live. I had long admired the nonprofit’s historic preservation and conservation mission, and when the invitation to consider … Continued
A Risk Management Journey with Miranda Hora
Miranda Hora is Senior Manager of Global Operations at Helen Keller International (HKI), a global development organization at work in 20 countries to save and improve the sight and lives of the world’s vulnerable by combating the causes and consequences of blindness, poor health, and malnutrition. Miranda manages the global operations systems that support the … Continued
6 Risk Trends that Matter to Your Mission
By Melanie Lockwood Herman Yesterday I read with interest Kate Barr’s new blog post titled 8 Trends in the Nonprofit Sector. Kate is the President & CEO of Propel Nonprofits, an organization that supports nonprofits in Minnesota and adjacent states. Propel’s finance factsheets, worksheets and other resources are top notch, and I recommend them. Kate’s … Continued
What Star Trek Taught Me about Risk Leadership
By Erin Gloeckner There’s not exactly a Starfleet Academy for nonprofit risk professionals, like in the beloved television and film series, Star Trek. Nonprofit risk professionals are often designated by surprise, and are expected to learn on the job, wear new hats (e.g., insurance program manager, safety committee leader, etc.), or seek out professional certifications … Continued
Create A Risk Management Function That’s Built To Last
By Melanie Lockwood Herman and Eric Henkel Many nonprofit organizations have made it a priority to integrate risk-aware thinking and decision-making into day-to-day operations and strategic planning. Plenty of organizations demonstrate expertise in managing risks related to programs, facilities, and clientele. But nonprofits’ ever-changing risk landscape invites a broader and deeper approach to risk management. … Continued