Mary Hiland of Inspired Nonprofit Leadership interviews Maya Tussing to discuss nonprofit risk management, why nonprofits need a reserve, how much is required and other insights. INTRODUCTION Welcome to Inspire Nonprofit Leadership, where you'll hear insights and useful strategies as well as lessons learned from other nonprofit leaders and valuable tips from a variety of experts. Here to help you Read More
Can You Afford the Zombie Apocalypse?
Debbie, a successful businesswoman, informs her new boyfriend that she keeps a duffel bag with eighty thousand dollars in cash hidden in her closet for an unexpected need. “Might come in handy for the zombie apocalypse,” she adds. This scene from a gripping crime drama I watched the other night made me of think of purchasing power. Let’s set aside the wisdom of leaving cash in a duffel bag and then telling a guy you Read More
Running on Empty: Nonprofit Doesn’t Mean No Profit
“It's a nonprofit...so I assume it’s not supposed to have profits." Direct quote from a nonprofit board Chair. The term “nonprofit” was never supposed to mean an organization that is managed in the red. It simply means that surplus income pays to further the organization’s mission and is not distributed to shareholders or members. The idea that nonprofits need not strive for positive revenue hurts the sustainability Read More
Jet Skis and the Perception of Risk
This summer I drove a jet ski for the very first time and it made me think about nonprofit risk. My family rented a couple of jet skis for a 30-minute ride at a Mexico vacation spot. My daughter was perched on the back of my vehicle, egging me on to go faster and faster to catch up to my husband who was lapping us many times over. The problem was, I was scared out of my skull—eyes laser-focused on the water, knuckles Read More
