When a major storm approaches the captain of a ship has two choices. In short, a ship can turn and run, or it can sail directly into to the storm. Both options come with risks. Either choice requires deliberate action and preparation to have a chance of success.
From my years of being an auditor for many nonprofits, I encountered numerous tales of nonprofit organizations that exposed themselves to unnecessary risks, at times with disastrous consequences. I offer a few of them to you as a way of helping you evaluate the risk profile in your nonprofit.
As the pandemic wears on without imminent relief, the risks that all nonprofits are facing are continuing to shift. Unfortunately, we can’t afford to wait until things calm down, we need to expend resources preparing for these emerging risks now. Robust discussions with your Board and staff on the top risks will be a worthwhile investment in your future.