Nonprofit Resources
In the Budget? That Doesn’t Necessarily Mean You Can Spend It
Reserves and cash flow projections are important. Just keep in mind that while many churches use operating budgets, many church employees confuse operating expenses with cash expenses.
What You Need to Know About the COSO Framework Update
The COSO Framework is designed to provide a process of controls aimed at achieving the organization’s objectives. The recent update resulted in five significant changes.
Big Picture Financial Management: Four Ways to Strengthen Your Ministry
Being responsible for the accounting and financial operations of a ministry is no small task.
Five Ways to Make an Audit Easier
We’ve put together five tips to help make an audit less painful and provide you with maximum benefit.
Managing Budgets Never Ends
We budget so that we can better manage our church’s operations. To effectively manage a budget, it should never be far from our minds.
“Tax-Exempt” Doesn’t Erase All Tax Issues
While churches are tax-exempt organizations by law, local congregations are still affected by many tax issues. These include unrelated business income tax (UBIT), the correct classification of independent contractors, ministerial compensation, and other common tax concerns.
Board Governance in Churches: So Who’s in Charge, Anyway?
Church “polity” often defines your church’s structure, board roles, and responsibilities. If you are a church board member, it’s critical that you understand the role of your church governing body in relation to your church polity in order to help you understand your role and responsibilities.
Corporate Credit Cards and Your Church: Important Considerations and Guidelines
Corporate credit cards can be very useful for church staff, but they need to be used properly, with adequate documentation provided on time.
Five Questions to Ask About Your Organizational Philosophies
Whether you are new to your organization or have been there many years, it is important to step back periodically and examine existing organizational philosophies to determine whether they are helping or hindering your ministry’s leadership and objectives.
Not-for-Profit Financial Reporting 3.0: New FASB Exposure Draft
Even with the challenge of learning a new framework and educating others, this may be an update to welcome.