One definition of “dread” is managing payroll without qualified staff. For those churches with limited resources, ministerial staffing positions must be filled first. A common sentiment among pastoral leadership regarding payroll is, How hard can it be?
Well, it is hard. And, some mistakes could lead to serious consequences.
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A new employee has fulfilled their probationary period and is now eligible to receive the full benefits offered by your organization. Yet, many eligible employees choose not to contribute to their retirement — even if it means leaving matching employer contributions on the table.
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As your church settles down from Christmas celebrations, things are no doubt getting into full swing for the person managing all your church’s accounting. If that person is you, you likely still have several time-sensitive tasks on your horizon that need to get finished by January 31. Putting a good system in place can help keep you on track — and that’s what we’ve outlined for you below.
Read More >A true ministry banker understands that business administrators at religious institutions might only undertake a major commercial construction project once or twice in their careers.
A lender with specialized expertise in financing religious institutions will not expect you to intimately understand or fully anticipate the commercial construction and related borrowing processes. Rather, a lender with a depth of experience banking this segment can provide consultation and guide you through the process.
Nevertheless, the ministry will be best served when adequately prepared about what to expect.
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November and December are a busy time of year for most pastors. Following the Thanksgiving holiday, the liturgical calendar begins anew with the season of Advent. As preparations are made to celebrate the coming of the Christ child, extra services need to be planned, multiple sermons need to be written, rehearsals are in full swing for the Christmas pageant, and pastors are also ministering to those for whom the holidays are not such a joyous time.
Amidst all these preparations, pastors need to set aside some time to focus on year-end financial details that have tax implications for 2015 and 2016. Don’t let the following items slip past you.
Read More >“We’re an old church; we just replace things when they break.”
This is the common response when I ask church leaders throughout the nation about their long-term capital planning strategy. While this statement might be true for many worship facilities, for many years, that doesn’t mean it’s the wisest form of stewardship for a church’s physical assets.
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If your church is anything like mine, you are constantly trying to navigate the requirements of our nation’s employment laws. When researching the topic of “employee versus independent contractor,” what I find is consistently inconsistent. It’s easy to get lost in the lack of interpretation.
Read More >Long-term interest rates appear to have bottomed out and are projected to increase by year-end. So, now is the time to consider borrowing funds to undertake important building initiatives or refinancing existing debt.
Read More >As unemployment has declined and consumer confidence has grown, it appears that the post-meltdown reluctance to solicit donors for capital pledges for religious institution expansion is abating.
This is giving way to pent-up demand for worship space.
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