A National Imperative: Joining Forces to Strengthen Human Services in America (Jan 2018)

Exhibit 1. Financial risk management strategies employed by CBOs

Formal financial targets

Board ensures long-term strategic investments Formal delegation of risk responsibilities

Board makes risk is a top priority

Periodic pulse checks on sector’s finacial health Reports financial results and risks

“Rainy-day” fund

Planned responses to specific financial challenges

Hires staff with financial risk background

Succession plan for executive turnover

Periodic financial benchmarking

Plans to maintain essential operations

Plans to return to financial stability in the event of stress

Percentage employing strategy

Training on financial risk

Plans to have other orgs take over in the event of failure

Percentage employing and confident in strategy

0%

40% 20% 10% 30% 50% 60% 70% 80% 90%

100%

32 |  A NATIONAL IMPERATIVE