Here we go again…
The last few weeks have stirred old fears and created some new ones about the ongoing outlook for our economy. The S&P downgrade of U.S. government debt and the ensuing market reaction have heightened concern that we may be in for a double dip or that the growth of the economy could stall in the foreseeable future. It looks like we are in for a long, slow recovery, perhaps longer and slower than once hoped, with unemployment not expected to drop below 8% before 2013.
So what is the one thing your church can work on now to be better prepared for whatever the economy holds in the coming year? [read more]
The unemployment rate fell to a two-year low of 8.8 percent in March and companies added workers at the fastest two-month pace since before the recession began according to the Associated Press.
Stats like this don’t mean much on their own. My goal today is to help put them in context and begin to help your ministry better understand the general economic conditions that ultimately have a very real impact on the finances of each and every church. [read more]
What is the one area that we see derail more ministries than any other? I’m sure you’ve already guessed that it has little to do with macro economic conditions or the weather.
In good times and bad, the area that poses the greatest threat to ongoing success in ministry is a loss (or perceived loss) of integrity.
Here are three steps you can take to ensure that your ministry keeps—and strengthens—its financial integrity. [read more]
Cash reserves. If you’re like me, your eyes glaze over when these two words are used together. It’s certainly not the most exciting topic. But, what we have found through the current economic downturn is that cash reserves are more important than ever for ministries.
Why do ministries need cash reserves? Consider these actual situations: [read more]
I’ve sat in the executive pastor seat. I know how challenging (even seemingly impossible) it can be to get the rest of the staff, especially your lead pastor, to value the same priorities that you do when it comes to church revenues and expenses.
That’s one of the reasons we developed the four financial priorities model at ECCU. [read more]