Financial Services Archives - Church Executive


The decision of a lifetime: 4 reasons you can’t afford to opt out of Social Security

By Don McLeod, CFP® During the first two years of your ministry, you will make the decision of a lifetime — whether or not to opt out of Social Security. This is a hot topic in ministry circles today, and everyone has a personal opinion on the matter. But what does it really mean to […]

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When to choose a fund accounting solution

fund accounting software churches

Due to the nature of their work, churches are held to a high standard of accountability by internal and external stakeholders. Without a financial solution designed to comply with non-profit accounting standards, it can be challenging to demonstrate transparency and fiscal responsibility to constituents. While commercial accounting software can be configured to meet basic financial […]

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Retirement planning for millennials

  By Colin Nass, CFP®, AEP®, RICP® When discussing the need for retirement planning, millennials might not be the first age group that comes to mind. Millennials — also known as Generation Y — were born after 1980, and they’re the first generation to come of age in the new millennium. Typically, researchers use the […]

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Estate planning: getting affairs in order isn’t just for seniors

estate planning

By Matthew D. Hoffman, CFP®, ChFC® When we think about estate planning, drafting a will, and getting your financial affairs in order, millennials aren’t the first demographic group that come to mind. Most people don’t start to think about this topic until they’re a little older and more established; they usually have achieved milestones such […]

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So, you want to start a Christian school. Now what?

By Darren Thompson & Richard Koon Across the country, churches are answering the call to start a private Christian School — but they’re unsure about how to navigate the process. Does this sound like your church? In this second installment of our three-part “Financial Management for Christian Schools” series, we’ll discuss next steps, as well […]

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The sustainable metric — where cash is always king

By Rebecca M. DaVee, CPA Our last metric is the sustainable operating metric. When you boil it down to the last key performance indicator — the one that tells the true story for sustainability — what is it? It’s not based on an account buried in the profitability of the organization, (i.e., statement of activities […]

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With rates rising, should you terminate your interest rate swap and refinance?

By Dan Mikes As you might have noticed, interest rates have been on the move. Also, recent economic signals seem to imply the federal government will be more active in 2017.  Consider comments economist Dr. Scott Anderson made on February 17 under the heading, “Inflation Runs Hot, Will the Fed?”: The urgency to hike interest […]

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Debt management: one of the keys to financial wellness

By Rev. Dr. Patricia Hunter, CFP® In today’s world, most of us have debt. One of the keys to achieving financial wellness is learning how to manage that debt. Debt does not have to be an insurmountable problem Is debt distracting you from your ministry? As servants of God, we often place the needs of […]

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Making multisite church accounting work, flawlessly

GLENN WOOD / CHURCH ADMINISTRATOR / SEACOAST CHURCH / MT. PLEASANT, SC By RaeAnn Slaybaugh For more than 22 years, Glenn Wood has — innovatively — served as business administrator at Seacoast Church in Mt. Pleasant, SC. At the administrative helm of a rapidly growing church (now with 13 locations!), Wood’s vast, varied business management […]

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Good governance = good giving

A clear financial plan, including a sound investment policy, protects a church, its ministries and its people from a potentially devastating financial misstep. However, did you know this same plan can actually drive better giving, too? John Regan, Partner and Chief Investment Officer at New York-based Permanens Capital, which counts among its clients several large churches […]

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