Jump directly to the content

Three Questions to Ask About Your Church's Financial Management

Do your compensation, reimbursements, and restricted giving practices need a check-up?

Three Questions to Ask About Your Church's Financial Management

When it comes to staying above reproach in finances, churches generally struggle with the same few issues, over and over again. They play out in different ways but the biggest questions they need to answer in order to assess the health of their financial administration are these three.

1. Does your church have fair compensation?

Is that compensation approved independently of the individuals who receive that compensation? You need to make sure that your staff members aren't directly or indirectly helping determine how much they will be paid. Another question in this area is, Is all of the compensation that is taxable reported as taxable? Or are you giving the pastors a pass and not reporting taxable compensation? How are fringe benefits being reported? Are they taxable, tax-deferred, or tax-free? Dealing with issues of financial reporting is a large task, but it's necessary to have ...

Join now to access this member-only content

Become a Member

Already a member? for full access.

Related Topics:
Posted:
  • July 1, 2014

Related ResourcesVisit Store

Smart Money for Church Salaries
Smart Money for Church Salaries
This resource takes you on a journey through real-life case studies to uncover compensation issues and navigate their solutions.
ChurchSalary
ChurchSalary
Let ChurchSalary do the work. Get personalized compensation reports for staff and pastors.
How Churches Spend Their Money: 2019 Executive Report
How Churches Spend Their Money: 2019 Executive Report
This report will give you an inside look at how churches nationwide spend their money.
The 2019 State of Church Compensation Report
The 2019 State of Church Compensation Report
Data and statistics about the state of church compensation in the U.S. for 2019.