Protecting Your Nonprofit With Third-Party Risk Management
Nonprofit organizations play a crucial role in society, focusing on important causes like environmental conservation, humanitarian aid, and community development. Nonprofits often collaborate with third parties, like vendors, service providers, and even other nonprofits, to streamline operations and make their mission-driven work more effective. However, it's important to recognize that working with third parties comes with its own set of risks. Third parties expand the risk landscape for nonprofit organizations, introducing potential liabilities that must be effectively managed.