Managing Financial Risk: Key Areas for Consideration

The Nonprofit Risk Management Center devoted their May newsletter to the topic of financial risk management. One of the interviewees was Ed Mulherin CPA, Esq, founder and CEO of eCratchit Nonprofit, an outsourcing resource for non-profits. Ed cited three key areas of risk: access to timely, accurate financial information; liquidity and the size of their operating reserves; adequacy of staffing and salaries. Located in Boston, eCratchit serves 150 non-profit organizations across the country, giving Ed the perspective to help all of us to become better prepared in addressing the risks we face.