savings Archives - Church Executive


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.

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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.

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When building expansion becomes stewardship

Adaptive reuse of existing buildings for churches is an environmentally responsible solution as well as being financially effective. If done well it can also be inspiring — bringing churchgoers together in an appropriate, comfortable and stimulating worship space.

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Can a Health Savings Account save your church big bucks?

At an employee meeting in 2007, church accountant Kathy Warren and pastor of operations Bob Darden faced what felt like a mutiny. After considerable research and comparative analysis from Darden and Warren, the personnel committee at Bell Shoals Baptist Church, Brandon, FL, had decided to move to a consumer-directed, high deductible health plan with a Health Savings Account (HSA).

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How one church recovered from the brink of financial disaster

When Crossroads Christian Church in Corona, CA, accumulated $500,000 in debt — in addition to falling behind on their mortgage payments — financial ruin and foreclosure seemed imminent.

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Save expenses with Accountable Reimbursement Plans

How important to a church is having an Accountable Reimbursement Plan (ARP)? With an ARP, expense reimbursements and advances are not reported as wages and are exempt from withholding and employment taxes. Without an ARP, reimbursed expenses, even when legitimate, must be reported as wages and are subject to withholding and employment taxes.

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How one church helped families secure stronger finances in tough times

When Blackshear Place Baptist Church offered a family finance program, 1,200 people signed up, and trimmed thousands in personal debt.

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Annual reports are as much for the church as for business today

No doubt as investors or participants in an employer’s 401(k)or IRA retirement fund, many congregants are used to perusing financial statements that affect them. They may or may not understand the fine details, but many a financial advisor has remarked at how good people can be at getting to the bottom line.

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An integrated holistic approach to what’s new in sustainability

Churches around the country have benefitted from choosing sustainable products and processes, whether they are purchasing paper or renovating or building a religious facility. Many church leaders have discovered that going green enhances their integrity and connection with their communities, while also providing healthier environments for their staffs and congregations.

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THE CHURCH’S NEW NORMAL: A time to take from the offering plate according to one’s need?

Cross Timbers Community Church decided to take some exciting steps to respond to this current economic season. A few weeks back, Senior Pastor Toby Slough told the church during our giving time that if anyone that day had a need — because being laid off or other financial challenges — that they were welcome to take out of the plate as it passed by rather than give that week.

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