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]
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]
Yes, this is a blog post about the IRS. So, understandably, I’m afraid I might lose you before we even begin. Please don’t check out too soon, though, because here’s the bottom line: The IRS actually has a new program designed to save you hassle and money.
Good, you’re still reading. Now let’s talk about why this program might be important to your ministry. [read more]