What if a staff member also wants to volunteer at your ministry?
It’s not uncommon for a staff member to want to serve as an unpaid volunteer at your ministry, especially if they really see ministry happening. In some cases this willing staff volunteers to work “off the clock” or sign up for traditional volunteer roles. But what seems to... [read more]
Do you wire money internationally?
Ministry frequently occurs outside our borders, which often means that money must be moved internationally. When funding ministry internationally, ministries must comply with U.S trade regulations. It may seem strange to think that stateside ministries have to worry about regulations from a counterterrorism agency, but they do. The Office of Foreign Assets Control (OFAC), which is under the Office of Terrorism and Financial Intelligence in the Department of the... [read more]
Do your contribution receipts meet IRS requirements?
I was sitting at a luncheon where Frank Sommerville, a leading nonprofit attorney, was providing an update on legal and tax issues. He brought up a 2012 tax court case where the IRS disallowed contributions in the amount of $25,171 because the church contribution... [read more]
Does Growth in Church Attendance Guarantee Increased Revenue?
Before the economic downturn, many churches thought that growing attendance translated into greater giving. And often, it did. So lenders were inclined to look at attendance growth when... [read more]
How Do You Know If Your Ministry Is Financially Healthy?
One thing many ministries discovered during the economic downturn is that they weren’t as financially solid as they thought. As revenue declined, their financial vulnerability became increasingly apparent. Loan payments, for example, that once seemed realistic suddenly weren’t. One way ECCU responded to this situation was by forming a new team to help struggling member ministries become financially healthy again. I asked... [read more]
Fraud in the Church is Growing
I was saddened to read some stats recently showing that fraud in the church costs more each year than what is given to missions. The numbers were $35 billion in fraud in 2012 and $23 billion given to global foreign missions. How can this be true and what can we do to combat fraud? According to the Center for the Study of Global... [read more]