Church & Commercial Loans: Practical Tips for Growing Churches

When it comes to managing money, we generally have two options: Either we control the money, or money controls us. As a result, churches must manage finances effectively in order to maintain longevity and safeguard their assets. While the concept itself is simple, practical incorporation of these ideas often challenges religious organizations.?

We have organized a list of simple, proven approaches that lead to financial success!

????????? Have a Dream/Vision

• The first step. What is your purpose? Establishing a clear vision for your organization will help determine your future growth objectives. Keep a list of your financial goals with specific target dates for each. Adopt a pro-active, forward-looking outlook that desires continuous improvement. Strong desire yields strong results!

????????? Division of Labor

• You can?t do it alone. Churches are broken down into a variety of sub-groups that manage specific functions. Determine what the financial needs are within each group and plan accordingly. Work with each department individually to reasonably estimate monthly income and expenses.?

????????? Manage, Don?t Own.

• As a Church, you occupy a position of leadership, particularly in the area of resource management. Biblically, we are clearly told to be stewards of resources. The word ?Steward? ? which comes from the Greek, describes a position of authority in which a manager was left in charge of his master?s resources. Similarly, this idea can be applied today by viewing our role in finance as managers, not owners. ??

????????? Integrity / Communication?

• Pastors hold a position of trust among members. With this in mind, Pastors should delegate the administration of finances to a trustworthy church member. This will serve to eliminate suspicion and reduce potential mismanagement concerns. The old adage, ?Trust, but Verify? comes into play here. Establishing a system of accountability between workers has been proven to increase levels of respect and loyalty between staff. Furthermore, it is important to inform the congregation of any pressing financial issues through meetings, letters, etc.?

Source: http://churchloan.blogspot.com/2012/02/practical-tips-for-growing-churches.html

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