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]
If I’m looking for answers to the question above, I’m going one place first…for two reasons. That place is the ECFA (Evangelical Council for Financial Accountability).
One reason is because ECFA President Dan Busby and Vice President John Van Drunen are experts on matters like this. The other reason is because I have the privilege of addressing this topic with Dan and John in an upcoming ECFA webinar.
To lay some groundwork for our webinar discussion, I emailed these two experts a couple questions related to the topic. Here’s how they responded. [read more]
Technology insights and issues are not Ministry Banking Guy’s expertise. That distinction belongs to Alan Weisenberger, former vice president of information systems with ECCU, who wrote the following post.
“The new pastoral candidate says he’ll take the job if we buy him a Mac instead of a PC.”
This is a dangerous way to start a blog, but it’s worth the risk, because ministry leaders are continually required to weigh personal preference against organizational need.
Technology decision makers who are truly looking out for their organizations’ best interests sometimes have to say “no” to good ideas. It can happen when someone—often a higher ranking someone—wants new software or a technology gadget that is sure to make them more efficient. So they ask, “Why can’t I just use the technology tools that work best for me?” [read more]
I was saddened to read some stats recently showing that fraud in the church costs more each year than what is given to missions. The numbers were $35 billion in fraud in 2012 and $23 billion given to global foreign missions. How can this be true and what can we do to combat fraud? [read more]