Risk Assessments for Nonprofits
Our consulting rates will increase on January 1, 2017 to $250 per hour/$2,000 per day. To lock in our 2016 rate of $1,800 per day, call Erin Gloeckner, Director of Consulting Services, at 703.777.3504.
One of the most popular services offered by the Center is an independent Risk Assessment. A typical Risk Assessment begins with a site visit to the nonprofit’s headquarters and a kick-off meeting to discuss project scope and deliverables. After the kick-off meeting the project team from the Center will interview 10-30 key stakeholders (such as staff and members of the board) in order to hear diverse perspectives on the critical risks facing the organization. In addition, our team will request and review documents and materials that provide background information on the nonprofit’s risk landscape and operations. After completing the interviews and review of materials, the Center will deliver a report containing a suggested framework for surfacing and managing critical risks, commentary on the adequacy of existing risk management activity, and specific suggestions and recommendations for evolving the nonprofit’s risk management program.
An independent Risk Assessment increases the confidence of stakeholders and inspires practical action to position the nonprofit for continued success.
The Center’s minimum fee for a comprehensive Risk Assessment is $25,200. With the exception of projects for small nonprofits, there is an additional cost for an Insurance Coverage Review conducted at the same time as a Risk Assessment. Many clients also seek help identifying and managing enterprise-level and enterprise-wide risks and creating a framework for Enterprise Risk Management.
To request a proposal for a Risk Assessment, Risk Assessment with Insurance Coverage Review, or an Enterprise Risk Management Review, call 703.777.3504.
Click here to view a partial client list.
The board and staff of the Prince George’s Child Resource Center are extremely pleased with the results of the risk assessment conducted by the Nonprofit Risk Management Center. A thorough scan revealed that while we are a well run organization, we had risks that we never imagined. We are grateful to know that we have now minimized our organizational risks and recommend the Center to other nonprofits.
Marti Worshtil, Executive Director, Prince George’s Child Resource Center
BBYO's engagement of the Center to conduct a risk assessment was one of the most valuable processes undertaken over the past five years. Numerous programmatic and procedural changes were recommended and have since been implemented. Additionally, dozens (literally) of coverage gaps were identified that would never have been without the work of the Center. This assessment led to a broker bidding process that resulted in BBYO's selection of a new broker that we have been extremely satisfied with over the past two years. I unconditionally recommend the Center for their consultative services.
Sidney Abrams, Director of Administration, B'nai B'rith Youth Organization
Our decision to ask Nonprofit Risk Management Center to undertake a risk assessment for the Hinton Rural Life Center was one of the best decisions that we could have made. The consultation was very thorough and thoughtful. It was conducted in a professional and friendly style. The consultation helped our staff and board focus on several critical issues regarding our insurance coverage, personnel policies, and other risk factors. In addition, the Nonprofit Risk Management Center has continued to offer guidance and suggestions as we have tried to implement changes in our operations. This consultation was some of the best money we have ever spent. I would recommend it to any nonprofit organization, without reservation.
Clay Smith, President/CEO, Hinton Rural Life Center, Inc.