Jump directly to the content

The Zero-Percent Solution

The only time a church mortgage gives any cause to celebrate is when it's burned. Otherwise, it's a drain on resources. Interest payments can easily triple or quadruple the cost of a church building.

Beracah Bible Church decided to forgo the joy of mortgage burning for something better: no mortgage at all. Here's how it did it:

When our church began, our board of trustees quickly agreed that the congregation would function on a "pay-as-you-go" basis. Simply put, this policy allows us to spend only the money already in hand.

Two factors led to this decision: (1) Several churches and religious organizations in our area had been financially irresponsible, thus tainting the reputation of the rest of us. They assumed huge debts for building projects as a "step of faith." In reality, it was a step of presumption. They were convinced it was "God's will," ...

Join now to access this member-only content

Become a Member

Already a member? for full access.

Related Topics:
Posted:
  • September 20, 2012

Related ResourcesVisit Store

2020 Technology Bundle
2020 Technology Bundle
Start leveraging technology to efficiently achieve your church's mission and vision.
2020 Financial Bundle
2020 Financial Bundle
Set the pace for your church's efficiency by solidifying your financial plan today. Effectively allocate church funds and set budgets.
Talking to Your Congregation About Money
Talking to Your Congregation About Money
Helpful insights on talking about money and encouraging people to become generous givers.
Charitable Contributions Bulletin Inserts
Charitable Contributions Bulletin Inserts
Help your members give more by answering their charitable giving and tax law questions.