When taking a critical look at risk categories, the Nonprofit Risk Management Center provides the following advice:
Personnel and participants are a nonprofit’s most “precious assets” and injuries they sustain may never be repaired. Organizations should look at their “people assets” including staff, volunteers, clients, board members and donors. Recognizing that each person is unique and brings his or her own set of experiences and skills, the organization should identify all categories of people that it comes into contact with and create a list of the risks each group of people face.
Remember that property and premises risks can come in many forms, including those caused by nature (e.g., floods, extreme heat or cold) or from human action (e.g., theft, vandalism or carelessness). Property also includes not just buildings, furniture and fixtures, but also intellectual property (e.g., trademarks and copyrights), motor vehicles, computers and other equipment. Organizations should list out their property assets and identify risks for each asset.
Look at all of the organization’s sources of income, whether they be grants, government contracts, investments, merchandise sales, special event proceedings, membership dues or more. The organization should then list the major risks, such as lost grants or fraud, associated with each income category.
Finally, consider the organization’s reputation in the community and identify the types of crises or events that would sully that reputation.
More information about the “four Ps of youth protection” can also be found in the Center’s book: “The Season of Hope: A Risk Management Guide for Youth-Serving Nonprofits” for purchase on their website.