Church Finances during COVID-19 (part 3 of 5) – reducing expenses

During this time when church buildings are closed, the church can address its finances in a productive way. During the 2008-2010 Great Recession, I advised churches to reduce their budgets by 10%; the churches that did that survived without letting … [Continue reading]

Church Finances during COVID-19 (part 2 of 5) – Paycheck Protection Program

As part of the $2.2 trillion CARES Act, Congress approved the Paycheck Protection Program. This program is aimed at small businesses including churches and religiously affiliated non-profits. It is a rare time when Congress authorizes money to be … [Continue reading]

Church Finances during COVID-19 (part 1 of 5)

Issues to address immediately: Online giving – if you don’t have it, get it now. My currently preferred vendor is Tithely. They can get you set up in a few hours (they say they can do it in minutes but…). Then, promote the heck out of your … [Continue reading]

An Expensive Football

Years ago my church had an auction to raise money for a summer missions trip for the youth. It was a big event – it took two days to stage, the youth were waiters, we had a professional auctioneer (he donated his services), it was an event! One of … [Continue reading]

$10

When I was a poor college student I had barely enough to get by. I certainly didn’t have any money to tithe. And when the offering plate was passed, I wanted to give but I couldn’t. I had no financial margin in my life. One Sunday morning I walked … [Continue reading]

Fixed Assets

I take these off every balance sheet I possibly can. There is no reason for a church (or any other non-profit) to track their fixed assets (land, buildings, and furnishings). CPAs will tell you these must be included on a balance sheet and that is … [Continue reading]

Cash Balance Sheet

Cash is King. Especially in non-profits. I’ve spent too many hours trying to get CPAs to understand that in non-profit accounting, there is no need for the balance sheet to list fixed assets, pre-paid expenses, depreciation (in any of its myriad … [Continue reading]

Columbarium – Part 6: Moving?

One of the serious considerations that each church faced was moving the columbarium should the church ever relocate and the property be sold. As cities and suburbs change, churches wax and wane; some are closed for good and some move to a new … [Continue reading]