ACC105. Managing Risk in Nonprofit Organizations - 20 hours. Objectives

Transcription

1 ACC105 Managing Risk in Nonprofit Organizations - 20 hours Objectives Like all organizations in today s volatile marketplace, nonprofits are under tremendous pressure to be more accountable for their operations, specifically to funders, donors, clients, and the public at large. Proper risk management can not only help nonprofits create a sound and transparent financial structure, but also exploit new development opportunities that may not otherwise be realized. Managing Risk in Nonprofit Organizations shows managers how to implement sound risk management procedures in every aspect of their organization. The authors divide their guide into three sections The Nature and Purposes of Risk Management, Recognizing the Context for Risk Management, and Risk Financing for Nonprofits. A large array of potential risks is covered, including: Human resource issues Fundraising Internet use Mergers Volunteer management Senior level managers and executives at nonprofits, board members, and professional risk managers will find Managing Risk in Nonprofit Organizations to be an invaluable guide to this vital topic. Course Outline Chapter 1 The Nature and Purposes of Risk Management After completing Chapter 1, you should comprehend the following:

2 1. Why manage risk in a nonprofit? 2. Key starting points: risk, uncertainty, and loss 3. Assigning responsibility for risk management 4. The risk management process 5. Managing risk for mission fulfillment Chapter 2 Recognizing the Context for Risk Management After completing Chapter 2, you should comprehend the following: 1. Risk management context 2. Organizational context 3. Strategic context Chapter 3 Property Risks After completing Chapter 3, you should comprehend the following: 1. Types of property subject to loss 2. Perils causing property losses 3. Financial impact of property losses 4. Mission-critical consequences of property losses 5. Methods of identifying potential property losses Chapter 4 The Nature and Purposes of Risk Management After completing Chapter 4, you should comprehend the following: 1. Definition of income loss 2. Values exposed to loss 3. Events causing losses of income 4. Dimensions of net income losses 5. Methods of appraising potential net income losses Chapter 5 The Nature and Purposes of Risk Management After completing Chapter 5, you should comprehend the following: 1. Legally protected interest

3 2. Wrongful invasion 3. Common and statutory law 4. Responsibility 5. Harm directly caused 6. Without justification 7. Legal remedy Chapter 6 People Risks After completing Chapter 6, you should comprehend the following: 1. People exposed to loss 2. Perils threatening a nonprofits people 3. Consequences of these perils Chapter 7 Reputation and Mission Risks After completing Chapter 7, you should comprehend the following: 1. Unique characteristics of nonprofits that highlight mission and reputation risk areas 2. Mission risk: What does a mission statement reflect? 3. Strategies for dealing with risks to a nonprofits mission 4. Reputation risk 5. Risk issues reputation 6. Implications of damage to the nonprofits reputation 7. Strategies for dealing with risks to the nonprofits reputation 8. Staff behavior and the nonprofits public image Chapter 8 The Nature and Purposes of Risk Management After completing Chapter 8, you should comprehend the following: 1. Short-term assignments 2. Long-term assignment volunteers 3. Strategies for managing risk in a volunteer program Chapter 9 Governance and Fiduciary Risks After completing Chapter 9, you should comprehend the following:

4 1. The nature of the governance role 2. Volunteer protection laws 3. Nonprofit boards: standards of care, loyalty, and obedience 4. Primary risk areas 5. Strategies for dealing with risk areas 6. Membership: structure and composition of the board 7. Board meetings and committee meetings 8. Orientation session for new board members 9. The nature of the fiduciary role 10. Balance sheet 11. Statement of revenues and expenses 12. Statement of changes in net assets 13. Statement of cash flows 14. Financial statement analysis 15. Financial ratios Chapter 10 Managing Risks Related to Serving Vulnerable Populations After completing Chapter 10, you should comprehend the following: 1. Defining vulnerable populations 2. Programs serving vulnerable populations 3. Primary risk areas in serving vulnerable populations 4. Strategies for dealing with primary risk areas Chapter 11 Managing the Risks of Transporting Clients After completing Chapter 11, you should comprehend the following: 1. Range of service in transporting clients 2. Risk areas in transporting clients 3. Elements of the transportation program 4. Introducing the program to potential clients 5. Emergency procedures Chapter 12 Managing Collaboration Risk After completing Chapter 12, you should comprehend the following: 1. Collaboration: how and why?

5 2. Collaboration risk: when partnerships fail to meet expectations 3. Risk management checklist for collaboration 4. Risk management strategies for successful collaborations 5. Collaborating with insiders 6. Risk management strategies for familiar collaborations 7. Business-nonprofit collaborations 8. Insurance considerations and checklist 9. Drafting a memorandum of understanding Chapter 13 Fundamental Objectives and Alternative for Risk Financing After completing Chapter 13, you should comprehend the following: 1. Financing risk management activities 2. Establishing a risk financing strategy 3. Risk financing techniques Chapter 14 Working with Insurance Professionals After completing Chapter 14, you should comprehend the following: 1. Why does a nonprofit need an insurance professional? 2. What qualities should a nonprofit look for in an insurance professional? 3. Fee or commission? The compensation debate Chapter 15 Insurance After completing Chapter 15, you should comprehend the following: Strategies for financing risk responsibly 2. Overview of common property and liability 3. Alternative risk financing