The biggest flaw of charity boards is an inability to raise money , says a recent survey. Just 60 percent of board members make a personal contribution, the survey found. Lack of involvement and commitment was cited as a major board weakness by 20 percent of charity organizations. Make your board responsible for risk management. Risk takes many forms, from lawsuits arising out of workplace issues and accidents, to computer failures and bad publicity.
Prevention is the key to managing risk.
Start by consulting with your insurer, attorney and accountant to evaluate your risk. Consider changing operating procedures and implementing staff training on risk management. Set up a separate corporation to hold title to buildings you have purchased. Avert computer disasters by frequently backing up files. Diversify your funding base to reduce financial risks.