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Monthly Archives: October 2016

The Four Most Important Moves to Make to Avoid Personal Bankruptcy

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Paying down your debt allows you control of your finances and keeps you from having to file for bankruptcy. Today we’ll be talking about Chapter 7 of the Bankruptcy Code which provides for “liquidation” – the sale of a debtor’s nonexempt property and the distribution of the proceeds to creditors and how to avoid this form of bankruptcy filing.

 

Start Using a Written Budget

The number one most useful move in avoiding filing for bankruptcy is to create a written budget and be adamant about following it. Whether you prefer an excel spreadsheet, or app or traditional pen and paper, this is the most beneficial move you can make for yourself to avoid filing for personal bankruptcy.

Increase Your Income

Many people tend to forget that while you should be cutting your expenses, you should also be increasing your income. Working overtime or working a second job during the weekend are both extremely helpful options for increasing your income. Even an extra $500 a month from working extra hours can help you tremendously.

Sell Your Property

Consider what you can part with. Things such as cars, antiques, and unused property can be sold at public auctions and help you earn extra money and avoid personal bankruptcy. For once you do file for bankruptcy- if filing a Chapter 7 case, it means liquidation of your assets. Meaning a review of your assets by a trustee and losing control of selling them yourself.

Cut Up Your Credit Cards

Until your finances are stable and under control, you should not be using credit cards under any circumstances. Even your “emergency” card that you swear is only used for emergencies should be cut up as well. What qualifies as emergencies should be extremely different than what you once considered emergencies. Your AC fails in your car and that seems to constitute as an emergency but until you get yourself out of dire debt, although uncomfortable, fixing your car’s AC is not something that needs to put you in further debt.

 

If you find yourself in a financial hardship, we are here to help. Contact us and we will walk right beside you through this stressful time. 561-627-8100 

Nonprofit Educational Symposium Review

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Nonprofit Educational symposium
Nonprofit Educational Symposium

Priyam Kulkarni, TriNet HR; Andrew Gray, Daszkal Bolton; Muhammed Chaudhry, CEO, Silicon Valley Education Foundation, and April Marsland, TriNet HR

Phil DiComo, who serves as outside general counsel to nonprofit organizations and foundations, spoke to nonprofit industry executive directors and CEOs at the Ft. Lauderdale Chamber of Commerce Tuesday on the topic “Avoiding Laissez Faire Governance in Your Boardroom.” Although governance is a central responsibility of non-profit boards of directors, a recent study shows that many directors are not engaged or do not understand their obligations while at the same time many organizations lack fundamental governance structures and processes. In his presentation Phil set a framework for CEOs and executive directors to benchmark their own board governance and to work with directors towards their long-term organizational governance objectives.

Top 8 Fundraising Methods for a Nonprofit Organization

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No one said raising money for a nonprofit organization was easy but learning about the different methods of fundraising can make the challenge of raising money for your nonprofit a little easier. Keep in mind, that your organization doesn’t have to stick to just one method. Although we would warn against trying to use all the methods at once, for that is a recipe for trouble and can lead to events that are poorly planned and connections with donors that fall short. The best plan of action is for your nonprofit organization to carefully plan out multiple fundraising methods over multiple years, based on the nonprofit’s internal strengths. Here are the eight best nonprofit fundraising methods.


1. Attracting Individual Support and Donations

Typically, nonprofit organizations reach out to individual donors through direct mail appeals, newsletters, social networking, and special events.

2. Soliciting Gifts From Major Donors

The most common methods of attracting gifts from major donors include gala events, luxury auctions, planning special tours and trips.

3. Holding a Capital Campaign

This is typically a coordinated effort to raise a large sum of money for a particular project or goal.

4. Promoting Legacy Gifts or Planned Giving

Your nonprofit can encourage donors to leave gifts via their estate, typically through a will or trust by offering information (in publications, seminars, and personal meetings) about how these gifts will be put to meaningful purpose.

5. Raising Money From Business or Sales

This type of nonprofit fundraising can encompass anything from kids selling baked goods to museums having their own gift shop to organizations providing their own clients with job training.

6. Applying for Foundation Grants

The most valuable thing about grants is that they’re usually for a large sum of money– often for thousands of dollars. These grants allow a nonprofit organization to start working on a new project or hire more staff.

7. Applying for Government Grants

These grant amounts are typically very high, so high in fact that some nonprofits subsist almost entirely on government money.

8. Requesting Corporate Gifts

Local businesses often will contribute such goods as flowers, alcohol, food, jewelry, tickets for travel, services from a spa or salon, and so on. Businesses can also lend you needed equipment for an event, such as tablecloths and tableware.

To learn more about nonprofit fundraising methods, click here

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