Hail Mary or holy moly: there’s got to be a better way to fund ministry
Many church leaders have realized that data and technology provide new ways of thinking about how they can overcome their increasing financial challenges.
Read More >FINANCE Archives - Page 44 of 60 - Church Executive
Church audits: know the 4 V’s
Depending on your role at the church, you’ll hear the word “audit” and come to one of two conclusions:
If you’re the finance manager, you understand the need for the substantiation of the integrity of the data — even though an audit can add to your already busy workload.
If you’re the pastor, it comes down to one word: “Why?” The financials are written in what appears to be a foreign language, and they don’t seem to help as you try to make good, mission-critical decisions, anyway.
Read More >Negotiating compensation without emotion
It’s a rare person who doesn’t feel like they’re navigating rocky terrain when negotiating salary and compensation. This can be especially true for clergypersons.
Read More >Protecting your church and religious organization against fraud
Now more than ever, all organizations are exposed to risk, including cyber security breaches and internal fraud. Religious institutions — which strive on building a trusting relationship with their members and employees on the foundation of religious beliefs, coupled with tight budgets and limited financial oversight — are even more vulnerable to fraud and abuse.
Read More >A year-end financial review helps focus on your financial goals
The statistics on Americans and retirement planning are staggering. More than half of us do not know how much we will need to live a comfortable retirement, and 60 percent have saved less than $25,000. For clergy, the economics of retirement can be even more challenging.
Read More >Performance bonds: beneficial or a waste of money?
For most of my professional career, I have been anti-performance and payment bond-oriented. To me, they seem like such a waste of money. In short, they’re just an insurance policy (although the Surety industry would say they are not “insurance” but rather a “guarantee” — semantics!) in the unlikely event the general contractor on a job is unable to complete the project (usually due to a bankruptcy or other major catastrophe related to the contractor). In theory, that sounds great. It almost feels like the proverbial “Get Out Of Jail” card. But is it really?
Read More >Dollar’s dollars: restricted gifts and abandoned projects
Televangelist Creflo Dollar recently came under fire for asking that 200,000 of his followers donate $300 each to buy a $60-million luxury jet for his use. In the wake of bad publicity associated with the request, it appears that he may have cancelled the campaign before reaching his goal. The problem is: What happens to money already collected?
Read More >Phase 3: The Campaign
In this series installment, Paul Gage spotlights the public phase of the process: the Campaign itself. It’s a critical time — and it requires plenty of prep work to get right.
Read More >Fraud prevention: are you doing all you can?
Banks are in the business of risk management — so, who better to help your ministry manage fraud and the onslaught of cybercrime making news almost every day?
Read More >Church Management Software (ChMS) Forum: Your ChMS should grow WITH you
People are already abandoning cash and checks in favor of debit and credit cards. And, the tools they’re using now could be obsolete in 10 years. So, choosing a ChMS that stays current with giving technology is crucial. By Mark Kitts Churches that employ alternative giving methods collect more contributions more consistently than those limited […]
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