When I was a kid, my mom always put vegetables on my plate, and I couldn’t leave the table until I ate them. When peas (which I hated) were on the menu, I’d eat everything else first. Then, when I was tired of waiting to go outside and play, I’d plug my nose, take some big bites, and choke them down. [read more]
Did you know that we found a direct correlation between a ministry becoming financially distressed and maintaining adequate cash reserves? Certainly makes sense that if you have a buffer, your ministry is less likely to focus on survival. So why don’t more ministries maintain adequate reserves?
Just as in our personal lives, putting money aside takes intentionality and discipline. Helping a ministry understand why cash reserves are so important is a first step in this process. Here are the three main reasons a ministry needs to maintain cash reserves: [read more]
After the economic crisis that began in 2008 triggered the Great Recession, news media reported countless stories of the impact on individual churches. Few of those stories included trends, because the data simply wasn’t available. Today, the numbers are in, and some of them are surprising. [read more]
I wonder how many ministries had to replace their air conditioning systems during this summer of record-breaking heat. Maybe yours is one of them.
Did you have enough liquid funds to cover that expense, or did you have to come up with those funds another way? Maybe a special fundraising effort, a loan from your financial institution, or “borrowing” funds from another area of ministry? [read more]
One of many lessons ministries have learned in recent years is the importance of cash reserves—having funds available when you need them. Without adequate reserves, the pursuit of your ministry’s mission may be in jeopardy.
A free ECCU webinar recording—Cash Reserves: Why you need them. How to build them.—can help. [read more]