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Developing a Risk Management Strategy

Five Steps to Risk Management in Nonprofit and Charitable Organizations

Karen Six Eric Kowalski Social Planning Council for the North Okanagan

© 2005 Imagine Canada. Copyright for Knowledge Development Centre material is waived for charitable and nonprofit organizations for non-commercial use. All charitable and nonprofit organizations are encouraged to copy any Knowledge Development Centre publications, with proper acknowledgement to the authors and Imagine Canada. Please contact Imagine Canada if you would like to put a link to our publications on your Web site. For more information about the Knowledge Development Centre, visit www.kdc-cdc.ca. Knowledge Development Centre Imagine Canada 425 University Avenue, Suite 900 Toronto, Ontario Canada M5G 1T6 Tel: 416.597.2293 Fax: 416.597.2294 e-mail: kdc@imaginecanada.ca www.imaginecanada.ca | www.kdc-cdc.ca ISBN 1–55401–124–8

Imagine Canada’s Knowledge Development Centre is funded through the Community Partnerships Program of the Department of Canadian Heritage as part of the Canada Volunteerism Initiative. The views expressed in this publication do not necessarily reflect those of the Department of Canadian Heritage.

Table of Contents
1. Introduction \ 1 2. What is risk? \ 2 3. What is risk management? \ 2 4. Do volunteers pose greater risks than paid staff? \ 2 5. Five steps for dealing with risk \ 3 6. A few last words \ 11 7. Conclusion \ 11 8. Glossary of legal terms \ 12 9. References \ 13 10. Web sites for articles and other information resources \ 14

I

Acknowledgements
The research team, Eric Kowalski, Paul Cabaj and Dr. Marilyn Mardiros, are indebted to the work and commitment of the project steering-committee members, whose advice in this project were invaluable:

• Jane Lister, Executive Director, Community Futures of the North Okanagan; • Ron Fairburn, Manager, Capri Insurance; • Bill Davidson, Retired Pastor; and • Twylla Genest, Coordinator,

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