Top Risks for Charities in 2023

As charities work to address some of society’s most pressing issues, they are faced with a wide range of risks that can threaten their operations and impact their ability to achieve their mission. In 2023, it is likely that these risks will continue to evolve and present new challenges for charities to navigate.

Top Risks for Charities

Here are some of the top risks that charities should be aware of in the coming year:

  1. Cybersecurity threats – As charities increasingly rely on technology to operate, they are vulnerable to cyber-attacks that can compromise sensitive information and disrupt their operations. It is important for charities to have robust cybersecurity measures in place to protect against these threats.
  2. Funding risks – Charities rely on donations and grants to fund their operations, and any changes in the availability of these sources of funding can pose a risk. Economic downturns, changes in government policies, and shifts in public sentiment can all impact a charity’s funding.
  3. Reputation risks – Charities rely on the trust and support of the public, and any negative publicity or loss of trust can have a significant impact on their reputation and ability to raise funds. It is important for charities to be transparent and accountable in their operations and to have a plan in place to manage any potential reputation risks.
  4. Legal and regulatory risks – Charities must comply with a range of laws and regulations, and any failure to do so can result in legal action and financial penalties. It is important for charities to stay up-to-date on the relevant laws and regulations and to have processes in place to ensure compliance.
  5. Political risks – Charities may be impacted by changes in political environments, both domestically and internationally. This can include shifts in policies that affect their operations or changes in the level of support for the issues they are working on.
  6. People risks – All charities depend on people who are committed to the purpose for which they exist. Competent, well motivated volunteers, directors, management, and staff are key to the success of the charity. Difficulty finding and retaining people with the right skills and attitude is a key risk for many sectors and charities and not-for-profit enterprises are no exception.


Overall, it is important for charities to be proactive in identifying and managing risks in order to ensure the sustainability of their operations and the success of their mission. This can involve implementing robust risk management processes, building strong relationships with key stakeholders, and staying informed about potential risks and how to mitigate them. For more on how CalQRisk can help you to streamline the management of these risks, request a free tailored demo today.


Recent News

6 things you need to know about the Individual Accountability Framework (IAF)

The Central Bank of Ireland has recently released regulations and guidance on the Individual Accountability Framework (IAF). Here ...
Read More

Paysend chooses CalQRisk as their Risk Management Solution

Paysend, a next generation integrated global payment ecosystem, has recently implemented the CalQRisk solution in order to enhance ...
Read More

ESG and Sustainability Reporting

The practice of businesses promoting sustainability and social responsibility in their operations can be traced back to the ...
Read More

CalQRisk Wins Best RegTech Solution at National Fintech Awards

CalQRisk, a leading provider of Governance, Risk & Compliance solutions has won the ‘Best Regtech Solution Award’ at ...
Read More

CalQRisk shortlisted in National Fintech Awards

The CalQRisk solution is shortlisted for ‘Best Regtech Solution Award’ at the inaugural National Fintech Awards. The National ...
Read More

CalQRisk shortlisted in 2023 CIR Risk Awards

Having won ‘Risk Management Product of the Year’ at the 2022 CIR Risk Management Awards, CalQRisk is now ...
Read More

From Risk Capacity to Risk Appetite

Risk Capacity is the maximum amount of risk that an organisation is technically able to assume before breaching ...
Read More

SMT automates their approach to Risk Management with CalQRisk

SuMi TRUST Global Asset Services (“SMT”), a subsidiary of Sumitomo Mitsui Trust Bank Limited, one of the largest ...
Read More

Digital Operational Resilience for the Financial Sector Act (DORA)

The Digital Operational Resilience Act (DORA) entered into force on 16th  January 2023. It outlines EU regulations for information ...
Read More

8 Things to Consider in a Data Breach Response

A data breach can lead to reputational damage, financial losses and much more. By effectively preventing and investigating ...
Read More