We know that it requires a lot of resources (people, time, and money) to operate a ministry. Each of these resources is valuable and need to be protected. Particulary, a church needs to safeguard its financial resources against embezzlement.
I was saddened to read about a neighborhood church, where my kids used to attend youth events, being yet another victim of church embezzlement. Read the Full Article →
Church financial accountability leads to credibility. Churches have many of the same challenges as managing a business and requires a lot of the same business processes to be successful.
Church leaders pursue their call to lead a congregation and may have lots of training in theology and biblical principles.
However, many may not have basic business training that is required when you manage the valuable resources that God provides – people, time and money. Read the Full Article →
Outsourcing is a business strategy that moves some of an organization’s functions, processes, activities and decision responsibility from within an organization to outside providers. Let’s explore some of the advantages and disadvantages of outsourcing.
This is done through negotiating contract agreements with a vendor who takes on the responsibility for the production process, people management, quality, customer service and key asset management of the function. Read the Full Article →
Managing church finances requires having an understanding of tax laws.
Because the laws can be complex, and not always easy to understand, churches occasionally do things inadvertently that can be problematic.
Staying compliant with the tax code is often directly related to how a church manages its finances.
As stated by Dan Busby in an article written by Church Law and Tax, there are three common errors that churches make when managing their finances – fair compensation, pastoral expense reporting and handling of restricted gifts. Read the Full Article →
God blesses churches with many resources – people, time and money – and He expects us to be good stewards with what He provides.
Members tithe on their income to support the operation of the ministry, making it even more important to be good stewards and manage financial resources responsibly.
So what is the definition of stewardship? According to dictionary.com, Stewardship is, “the responsible overseeing and protection of something considered worth caring for and preserving“. Read the Full Article →
Churches elect or assign members to serve on a Finance Committee of the church. This team of people is responsible for the management and stewardship of church funds.
This is an important committee because it can influence sustained financial health and growth of church assets. When mismanaged, this group can negatively affect the long-term financial viability of a church. Something no one wants to be responsible for. Read the Full Article →
In Jim Collins’ book, Good to Great, he talks about using councils to help guide the organization. Church councils should be made up of a group of the right people to discuss, debate, and make decisions about the administration and management of the organization.
People selected to serve on councils should be those with knowledge, experience and a passion for the topic. Read the Full Article →
The unpredictable economic climate has created budgeting challenges for many organizations. Church financial management is important to maintain fiscal viability.
This creates the need for churches to find help figuring out the best way to manage their sometimes limited resources.
Church leaders are often challenged with ensuring there is continued funding to support current programs and fixed operational costs.
This can be difficult because the financial needs of a church can be significant, and juggling limited resources can be stressful. Read the Full Article →
