This time of year, most churches have held their annual meetings and newly elected officers have started to settle into their new positions. For new treasurers, it can be an overwhelming experience. Each year about this time I would like to offer a few resources to new treasurers which I believe to be helpful in getting off…
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The Evangelical Council for Financial Accountability (ECFA) provides accreditation to Christian nonprofit organizations that demonstrate compliance with established standards for financial accountability, fundraising, and board governance. Members include Christian ministries, denominations, churches, educational institutions, and other tax-exempt 501(c)(3) organizations. The Alliance has been a member of the Evangelical Council for Financial Accountability (ECFA) since 1988 and…
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Checks and balances (aka internal controls) are procedures that safeguard your church from deliberate or accidental mishandling of money. They reassure the church leadership team and donors that church finances are being handled with integrity and that reporting is accurate. Strong internal controls also protect the finance team from accusations of mismanagement. An annual audit or financial…
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Over the next 25 years, the largest wealth transfer in human history will take place as an estimated $68 trillion will be passed on as the Baby Boomer generation ages. Bequest giving is on the rise and this will be an unprecedented opportunity for planned giving. What is Planned Giving? Planned giving is the term used to…
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A couple of months ago Jonathan, Scott, and I were able to attend a culture and legal update led by Gary Friesen, general counsel of the C&MA. Several very helpful speakers were present including Rev. Boyd Hannold, lead pastor of Princeton (NJ) Alliance Church (PAC). Situated in an area that is exceedingly diverse and irreligious,…
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As we move through the holiday season and approach year-end, it is common for churches and congregants to recognize pastors and staff with a love offering or some other type of gift. The gift could be a small amount of cash in a Christmas card or an organized collection taken during the worship service. It is important…
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I imagine church fraud is not a high priority discussion item at most of our church board meetings. The thinking is, “This will never happen at our church.” Given the daily duties and demands of church leaders it is not easy to focus on factors that can protect or diminish integrity and reduce the risk…
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A few months ago, I wrote an article about the importance of cybersecurity for churches. By way of review, my article included the following common threats you should understand and a few best practices to reduce the risk of an attack. Common Threats You Should Understand Malware: Malware is malicious software installed without a user’s knowledge, typically…
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Now more than ever churches should consider investing in planned giving. Over the next 25 years an estimated $68 trillion will be passed on as the Baby Boomer generation ages. This will be the largest wealth transfer in human history and an unprecedented opportunity for generous giving. Another interesting fact is this is that people have been more…
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Risk management is a topic that should be addressed at a minimum annually by your church. Risk is defined as an uncertain event that may have positive or negative consequences. A risk management plan identifies risks and action steps for dealing with those risks. There are basically four actions for handling risk: Avoid the risk completely. Transfer…
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