Nonprofits address critical needs in the community. They promote awareness of issues, provide services that might otherwise be unmet, and can organize a community to make a difference. Unfortunately, nonprofits also tend to struggle with financial challenges. Successful nonprofit leaders, use concrete strategies to maximize financial resources.

Summer is the season for tax audits. You may have forgotten all about the tax preparation process of last winter. Realistically, the chances for an individual audit are low - around 0.6 percent or about one in every 160 returns. However, tax preparers advise that it’s important for their clients to be aware of the triggers. Here are some of the things that the professionals pay attention to as they prepare your tax return:

If you’re like most small business owners, you have a serious problem on your hands. You don’t know how much your business is worth. You have so much of your own money and your own assets tied into it that it is impossible to get a value. Actually, you can get a business valuation, but you will need some help.

As a real estate investor, accounting is part of your daily life. You have to monitor the cash flow in, and make sure you’re managing your outflow in a profitable manner. For many investors, a paper accounting system is the one they know and use. However, if paper is holding you back, do what other successful landlords have done and make the switch to an accounting software program. 

Church leaders and their congregations know the importance of maintaining the structure that houses their ministry. They want to preserve the value of the building for future generations, protect their assets, and maintain the safe and efficient operations of the facility. Unfortunately, churches frequently find themselves addressing problems of deterioration and safety as they happen, often without the necessary funds.

It is easy for small business owners to get stuck with questionable business practices, especially when they are in the early stages of development. Sometimes in the zeal to achieve profitability and success, the employees and management take shortcuts. Here are ten frequently overlooked secrets about small business management that will help your company achieve success:

Developing an annual budget is a challenge for any organization, but churches have special considerations to keep in mind. Because faith-based organizations exist primarily to support the faith of their members, tasks like preparing an annual budget can get lost in the shuffle of other responsibilities.

The lack of robust accounting systems is one of the primary reasons that small businesses fail. Small business record keeping can be a thorn in every business owner’s side, and many companies are now turning to virtual accounting services. Here are some the advantages they find: 

For the most part, it’s a great time to be a real estate investor: interest rates are low, and home values are climbing in most areas. In fact, metro areas like DC are growing rapidly, which means there’s a good chance you’ll get high returns from your investment.

As far as nonprofits go, a church is one of the most complex organizations for leadership. Church leaders have to balance the spiritual needs of their congregations with the programmatic needs of the communities their churches serve. Meeting these needs requires resources, both human and financial. When your church income relies on the weekly donations of your congregation, it can be a little tricky to ensure that you have consistent cash flow.