Financial Services Archives - Church Executive


What you need to know as an executor

By Matthew D. Hoffman You have recently been named the executor of an estate — but, like many people, you might not be familiar with the scope of the task that you’re undertaking and the important information you need to know. An executor is the person responsible for managing the administration of a deceased individual’s […]

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Pastors follow the path to financial wellness

By RaeAnn Slaybaugh Research shows pastors are twice as likely to experience financial stress as the average American. As Rev. Dr. Perry J. Hopper, MBA, Associate Executive Director of MMBB, explains, this is because clergy sustain significant levels of indebtedness with fewer resources to meet their financial obligations. Coupled with a theology that sometimes can […]

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Planning for healthcare expenses in retirement

    By Rev. James R. Cook, CFP® If you think Medicare will cover all your healthcare costs when you retire, think again. The sobering reality is that Medicare generally only covers about 60 percent of the cost of basic healthcare services for individuals aged 65 and older. The remaining 40 percent must be covered by […]

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How data can drive better ministry

Your church management software is a treasure trove of actionable information … but only if you know how to mobilize it. What are the most important, yet often overlooked, ChMS data points? Gordon Proud: First, member management — who’s attending your church, how often and what classes or ministries they’re involved in. In addition, it’s […]

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TOM LUNAK & CALVARY CHAPEL FORT LAUDERDALE: An informed approach to refinancing drives church health & growth

By RaeAnn Slaybaugh     By anyone’s standards, Tom Lunak, CFO of Calvary Chapel Fort Lauderdale, has extensive experience in the banking industry. In his career, he has held senior-level titles at, and done consulting work for, several banking institutions. So, it was a pleasant surprise when, a few years ago, he was asked to […]

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Houses of worship subject to parking lot tax

By Sharon C. Lincoln In the context of paying one’s taxes, the New Testament counsels the faithful in Matthew 22:21 to “Give to Caesar the things that are Caesar’s, and to God the things that are God’s.” When it comes to taxation in the United States — for nearly all of this country’s history — […]

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10 tips to prepare your church for financing ministry expansion

Our expertise. Your mission. By Kari Boyce & Chris Lewis Growing ministries face financial and facility capacity constraints on a regular basis. One important question is, How does a ministry prepare for financing its growth? Here is some guidance from a lender’s perspective. Be intentional about managing your records and your books. I’m talking about […]

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Why you need an emergency fund – and how to build one

  By Alina Parizianu You’re driving home from a wonderful vacation and the “check engine” light in your vehicle comes on. The engine is running smoothly, and the transmission is shifting properly, so you continue to drive the vehicle, thinking it will be OK until you can get home and have it checked by your mechanic. Suddenly, […]

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Top 15 Articles of 2018

By Skylar Griego As we adjust to writing “2019” in our planners, now is a good time to reflect on 2018 and see the big picture. At Church Executive, that means taking a look at which articles were most important to our readers. When we looked at the 15 most-read articles, the editors noticed there […]

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What cloud computing can do for your church’s financial reporting

Futuristic design of a cloud network computing

  Like any other organization, it is necessary for a church to compile financial reports on a regular basis. Many churches use Microsoft Excel, which requires constant manual data input from a user on a designated device. The problem with this system is that configuring the information for specific reports requires a lot of work […]

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