Risk management is an ongoing issue for non for profit agencies, but many struggle with what they need to do and having the money to do it. However, there are several things you can do immediately even with limited time and money.
- Make bank deposits daily. In an effort to limit temptation and maintain accurate bookkeeping records, deposit funds right away, or immediately mark all checks and other non-cash receipts with a restrictive endorsement, such as, for deposit only.
- Maintain current position descriptions. To avoid creating unrealistic expectations or having a discrepancy between management’s and employee’s perceived roles, a job position description should be changed as the jobs responsibilities and assignments change.
- Create a concise policies and procedures manual. By utilizing a written policies and procedures manual that reviews what a non for profit agency expects from employees, new and existing staff will always feel prepared and informed.
- Strive for transparency. Top management at non for profit agencies should be clear and open about their actions – letting staff know the what, why, and how of each action.
- Execute checks on your back-up procedure. Most non for profit agencies follow recommended protocol for maintaining copies of software and data at an off-site location, but most have never assessed how well the back-up information would perform if it’s needed. Look at the information you’re storing and make sure it would be sufficient in the event of a loss.
- Train new staff appropriately. Whether an employee is a non profit veteran or newcomer, appropriate training regarding your agency’s way of doing things should be provided. The training should review the organization's mission and structure, and should also address ways for the person to do their job effectively, efficiently and confidently.
- Follow an equipment maintenance schedule. By developing an equipment maintenance schedule and having one point person follow through on it, you can guarantee the compliance and safety of your equipment while saving money on costly repairs.
- Make safety a priority. When staff members of non for profit agencies make maintaining a safe environment their responsibility, it can save a lot of hassle and heartache.
- Always remember your mission. Many non for profit agencies get so bogged down in their everyday tasks that they forget their core mission. Remember to ask, "Does this opportunity assist us in fulfilling our organization's mission?" That simple question can provide a lot of guidance.
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