11/30/2023

Three Key Steps for Nonprofit Risk Assessment and Management

The best plans are proactive rather than reactive

In the context of operating a nonprofit or association, "risk" is something of a loaded word. Taking some risks can be beneficial and even necessary when you’re launching a new initiative or planning for growth.

However, the term is more often used to describe situations that you hope to avoid because they could cause harm to your organization. Even the risks you choose to take can have damaging consequences if left unchecked.

To take all of this into consideration, your organization should first figure out how much risk you're able and willing to assume. Then, you can develop strategies to manage any risks that are beyond your organization’s tolerance level.

Please select this link to read the complete article from ASAE’s Center for Association Leadership.