Cybersecurity is a top 10 concern for many not-for-profits, but investing in data security doesn’t have much traction, according to the 2nd annual survey of CohnReznick's Not-for-Profit and Education Practice.
This year’s survey centers on not-for-profit stewardship and risk management issues.
Key findings include:
• 50 percent of the respondents reported revenue increases for their organizations of between less than 1 percent and 5 percent over the preceding year, and 28 percent of the respondents had increases greater than 5 percent.
• 29 percent of the survey respondents indicated that their organization is planning to boost its spending on data security over the next year.
• Only 30 percent of the respondents indicated that their organization has conducted an enterprise risk management assessment.
• Nearly 25 percent of the respondents counted cybersecurity among the top three risks to their organization and another 57 percent said that cybersecurity is one of their top 10 risks.
• Roughly half (51 percent) of the respondents reported that their audit committee monitors disclosed conflicts of interest.
• Almost half of the organizations (48 percent) reported having an audit committee comprised of four to six board members.