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 […]
Read More >By Rebecca M. DaVee, CPA In 1856, 16 individuals formed First Presbyterian Church of Dallas. For 15 years, the congregation met in various locations, including the Dallas County Courthouse. Fast forward to 1872 — the Dallas Presbyterians had found a new church home, located on Elm and Ervay. With the arrival of the railroads, downtown […]
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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.
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The loan underwriting process is centered on determining the level of risk associated with each ministry. As a part of that risk management process, we inquire about the amount of debt, cash reserves, as well as the limits and type of insurance coverage the ministry maintains.
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If you haven’t already heard while listening to the evening news, the 15-year historic graphs indicate that while interest rates are still relatively low, they might have bottomed and be on their way up. While many think rates are likely to increase in the future, no one knows how much they will rise or when. Now might prove to be a good time to refinance existing debt and secure a long-term fixed rate if possible.
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As the business administrator of a religious institution, you don’t need to be an experienced commercial developer to get a construction loan — you just need an expert ministry bank.
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