The Prudent Investor Rule

loading…   In community associations, the collection of assessments is the primary source of revenue for the operation and maintenance of the community.  Boards of Directors, with excess capital not currently allocated or needed in the immediate future, are turning to investment and financial planning as a means of maximizing these fixed, limited resources.  PuttingGo to Resource

FHA and VA Loan Approvals

loading… As you may know, one of the primary roles of the Board of Directors is to preserve, protect and enhance the value of the homes or units in your community. Some condominium and homeowner associations have taken steps to make their communities more attractive to prospective purchasers by making VA and FHA financing availableGo to Resource

Community Associations and the IRS

loading… We often get asked whether community associations can or do qualify as 501(c) organizations under the Internal Revenue Code.  Sometimes the question arises because the association derives too much income from sources other than assessments to file IRS Form 1120-H, and it is looking at way to decrease its income tax liability.  Below areGo to Resource

Budgeting Basics

loading… Budget season has arrived.  And with budget season comes the daunting task of planning, executing, communicating, and obtaining approval for your budget.  Here are some budget basics and practice pointers that all boards and managers should know: Do I have to plan and adopt a budget every year? If your community is a pre-CCIOAGo to Resource

Borrowing Money

loading… As the association industry matures, more and more communities are faced with the responsibility and need to perform major repairs of common facilities.  Often, because of poor planning, inflation, or unanticipated problems, associations have not accumulated sufficient reserves to finance needed repairs. In the past, when faced with major repairs and insufficient funds, associationsGo to Resource
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