Financial Services Archives - Page 19 of 20 - Church Executive


Who’s watching the funds?

While a church’s ministry often refers to its worship services, activities and community outreach programs, protecting your financial resources also is an important part of the organization’s mission. Financial collections are vital to keeping the various programs running. Unfortunately, it is all too common to have a trusted church member admit to embezzling from the funds they were asked to safeguard. Recently, the treasurer for a church in Connecticut was charged with embezzling nearly $300,000 over a five-year period. This church member had access to all of the church’s accounts and engaged in more than 100 thefts of church funds during this time period. Sadly, this type of theft happens far too often, as churches are naturally trusting. However, every church has the stewardship responsibility of protecting the money that is given by its members. The best way to ensure your finances are secure is to have a financial policy in place. The policy should address procedures for handling funds from the time collections are taken until the money is disbursed. Having such a policy is likely to help deter individuals from embezzling.

Read More >
Share

When to change your auditor

Should you change audit firms? If so, when? Neither not-for-profit nor public companies are required to change firms at set intervals.

Read More >
Share

It’s no longer your father’s capital campaign

How technology and communications are changing church fundraising.

Read More >
Share

Know the true meaning of stewardship

As a stewardship pastor I have often been asked why so few churches are investing in a comprehensive stewardship ministry.

Read More >
Share

How to reduce health care costs with taxes

Frequently ministers complain about rising health insurance costs.

Read More >
Share

How to use financial controls

Churches often see media coverage as a great way to get the word out about their ministry.

Read More >
Share

Cash reserves are key to your church’s financial health

Churches these days receive regular reminders of the need to take stock of their financial health.

Read More >
Share

For the well-positioned church, now is a great time to borrow

The vast majority of banks have emerged from one of the most difficult periods in recent history somewhat battered and bruised, but fundamentally sound.

Read More >
Share

Get a handle on the new retirement regulations

The Internal Revenue Service issued new rules and regulations affecting all 403(b) retirement plans in 2007. Most elements became effective January 1, 2009, with some delayed until January 1, 2010. You should be aware of three important issues about these new regulations as they relate to your church.

Read More >
Share

No retirement savings at age 55? Here’s what you can do

If you’re not confident about your financial situation at retirement age, you’re not alone. According to the latest research from the Employee Benefit Research Institute, retirement confidence is at an all-time low. Only 13 percent of workers reported a high confidence about their financial future.

Read More >
Share

HTML Snippets Powered By : XYZScripts.com