Laurie Michaels is Founder of Open Road Alliance, which is celebrating its fifth anniversary. This article is the first in a four-part series sharing what Open Road has learned about risk management in philanthropy and how the organization has evolved over the past five years to better address the need for fast, flexible contingency funding in the sector. This series will include findings from Open Road’s research and practical guidance on best practices for managing risk in order to maximize impact in philanthropy.