Financial Management
Are Church Musicians Employees or Independent Contractors?
I was recently reminded about this important topic during a session with Frank Sommerville, a leading nonprofit attorney. Are musicians, even if they are only used for special events, independent... [read more]
The Upside of Unpredictable Revenue
Three ministries—each impacted differently by the economy. We asked them how changes in revenue have affected their financial management, and the impact those decisions have had on their ministry. Whether income increased, decreased, or remained stable, a... [read more]
Enrollment is down. Now what?
For most Christian schools, enrollment looks different today than it did a few years ago. We asked several leaders from schools like yours, along with a director at Association of Christian Schools International (ACSI), for tips on what you can implement today to bring your income back up—without relying solely on additional tuition. Here’s what we learned. Reduce, rather than eliminate. An obvious way to compensate for decreased revenue is to make budget cuts. However, rather... [read more]
What Are the Goals of Financial Management?
The changing financial environment is prompting those who manage the financial resources of ministries to clarify the primary goals of their work. One who has given this issue considerable thought is Paul Clark, executive pastor of Fairhaven Church in Centerville, Ohio. The following short list of goals, from his blog, “Where church vision meets organizational reality,” gives any ministry financial decision maker... [read more]
Cash Recycling: Utilizing Cash Donations without Compromising Deposit Integrity
Does your ministry struggle with determining how much cash to keep on hand? Cash recycling offers a way to ensure you have enough cash while reducing the risks and time associated with unnecessarily transporting it to and from the bank, all while ensuring that your ministry’s commitment to financial integrity is upheld. As a financial... [read more]
Best Practices Are Not Always Obvious in Ministry
“As a ministry leader, what does God want from me as I make decisions in financial matters?” It’s a seemingly simple question, but not always easy to answer. In consulting with hundreds of churches across... [read more]
