I’ll admit, I’m a cup half full kind of guy, so when I think about the cloud called The Great Recession and all the havoc it has wreaked, I’m still looking for the silver lining. Granted, that lining may be patchy and thin, but it’s there.
Here’s an example. No school teaches the lessons ministries have learned over the past three and a half years. This has been an invaluable educational experience. One lesson has been that cash reserves are essential. Without them, you may not be able to pursue your mission. And in the worst-case scenario, which has become reality for too many churches, your ministry may be forced to downsize dramatically or cease to exist altogether.
A lot of ministries have been paying attention to this lesson. Since we first published an ECCU white paper on cash reserves in 2007, it’s been downloaded hundreds of times from our website, and hundreds more copies have been picked up at conferences and other ministry events.
The learning will continue on May 31 when we present a webinar titled Cash Reserves: Why you need them. How to build them. By attending this free webinar, you’ll learn from people who’ve built up their ministries’ reserves how to do it. Specifically, you’ll learn:
- What constitutes reserves and why they’re so important for every ministry
- About the process a ministry goes through to set a cash reserves target
- About the struggles and benefits ministries have experienced as they worked to achieve their cash reserve goals.
- How an ECCU member ministry builds and manages cash reserves
All three presenters have hands-on ministry experience. I’ll introduce you to them in my next post.
Speaking of lessons learned during The Great Recession, what are some you’ve found to be invaluable?