Businesses commonly make use of risk management strategies to identify, analyze, and manage potential risk and losses that could impact their bottom line. In fact, for most of corporate American, risk management is an important tool for serving customers and investors.
For human services nonprofits, however, the use of risk management business practices is rare. By failing to make use of these types of business practices, though, many organizations can find themselves financially vulnerable, which can negatively impact their ability to fulfill their missions to strengthen families and children and help them achieve their full potential.
In the Alliance for Strong Families and Communities’ recent groundbreaking report:
A National Imperative: Joining Forces to Strengthen Human Services in America, one of the “north star” initiatives recommended for strengthening and preserving human services nonprofits is for the sector to develop more robust finance and risk management capabilities.
To support that goal, the Alliance has become an affiliate member of the Nonprofit Risk Management Center, which works on behalf of nonprofits to enable leaders to identify and manage risks that threaten their mission and operations, while empowering them to leverage opportunities and take advantage of new and promising strategies.
Through the Alliance’s new affiliate membership, Alliance members have access to numerous risk management strategies and resources, including:
- Free, unlimited risk management advice by phone or email—like having a risk manager on retainer
- Online access to live webinars and more than 150 pre-recorded programs on risk topics
- Discounts on web-based risk management apps, in-person training programs, books and other resources
- Affordable web-based apps for developing personalized risk management plans and policies
These new risk management offerings are among many new back-office operations supports that the Alliance provides to help organizations more effectively execute on their missions and focus on direct service to their communities. These supports enable organizations to outsource various financial and administrative duties for which internal capacity and resources may be limited. Learn more about the Alliance’s operations support services online.
“By helping our members adapt to financial challenges by using the tools of corporate America, we are helping build a more successful and sustainable human services sector,” said Lenore Schell, senior vice president for strategic business innovation at the Alliance. “Our new partnership with the Nonprofit Risk Management Center is another important way we are helping to eliminate some of the constraints community-based organizations face when delivering on mission. ”
Members can access Nonprofit Risk Management Center Resources today by creating an account. Reference the Alliance when setting up your account.