METRICS THAT DRIVE SUSTAINABILITY. Presented by: Salmon Sims Thomas & Associates
|
|
- Joy Stewart
- 5 years ago
- Views:
Transcription
1 HELPING LEADERS BECOME BETTER STEWARDS. METRICS THAT DRIVE SUSTAINABILITY Presented by: Salmon Sims Thomas & Associates
2 Table of Contents WHAT GETS MEASURED AND MANAGED: EXAMINING THE VALUE OF CHURCH METRICS 3 Over the past 30 years, I ve sat in business meetings with pastors and board members and watched them cringe (literally) when required to review yet another financial report from the business office. Their eyes glaze over, and they begin doodling and drawing pictures on the financial statements. Why can t executive leadership love financial statements like I do? Why can t financial data be intuitive to pastors? Why can t this data be relevant and absorbed at the 30,000-foot level instead of at ground zero? Why can t bookkeepers and financial secretaries read the pastor s mind and give them a top 10 list of data that could be easily measured and managed? Why? That s an excellent question. MEASURING MINISTRY ACTIVITIES 4 Numbers tell the story, always. Whether you re looking backwards (historical perspective or what was ), or whether you can project operations forward, ministry leaders use data to analyze what if. Churches operate from one week to the next, resulting in 52 weekly cycles. Whether your weekend service begins on Friday, Saturday or Sunday, cash comes in (contributions) and cash goes out (ministry expenses). Trends develop over time, and ministry leaders can effectively navigate risks and opportunities by using and understanding Key Performance Indicators (KPIs). UNDERSTANDING METRICS THAT QUANTIFY LEVERAGED ASSETS 5 4 key debt-related key performance indicators (KPIs) that can help you evaluate the cost of financing debt; assets held for property, plant and equipment; and funds invested in public and private financial markets. FOCUS ON: SUSTAINING RESERVES METRICS WHAT THEY ARE, WHAT THEY TELL YOU & RED FLAGS Coming in April CHURCH EXECUTIVE METRICS THAT DRIVE SUSTANABILITY
3 What gets measured and managed Examining the value of church metrics Dear Pastor: How many times have you sat in your finance committee meeting reviewing monthly budget reports and wishing you could run, hide and never come back? I ve watched each of you squirm. I ve watched you sweat. I ve watched you wish you could dissolve into the seams of the carpet because dissecting, translating and understanding financial data just isn t your cup of tea. If it was, you d be an accountant instead of the senior pastor. Right? Sincerely, CHURCH CPA Over the past 30 years, I ve sat in business meetings with pastors and board members and watched them cringe (literally) when required to review yet another financial report from the business office. Their eyes glaze over, and they begin doodling and drawing pictures on the financial statements. Why can t executive leadership love financial statements like I do? Why can t financial data be intuitive to pastors? Why can t this data be relevant and absorbed at the 30,000-foot level instead of at ground zero? Why can t bookkeepers and financial secretaries read the pastor s mind and give them a top 10 list of data that could be easily measured and managed? resources, whether a church tracks cars in the parking lot, first-time visitors, Sunday school attendance, giving units per location or by service, and / or text-to-give donations. These operational metrics tell where and how a church is growing, and whether or not the church can effectively manage additional growth. It s all in the numbers! What gets measured, should be managed. Why measure if it s not relevant? It s a wasted effort. Plain and simple. The dilemma for leadership is understanding what should be measured. To that end, certain tangible operational risks always keep church leaders awake at night: When do we staff up to handle congregation growth and related pastoral issues? When should we outsource activities that have traditionally been performed by staff? Should we rent space instead of build, or should we expand our current facility? Should our annual budget include long-term maintenance projects? Should we create a foundation or permanent endowment to manage our longterm repair and replacement costs? These challenges are navigated by strategic governance. Key performance indicators (KPIs) measure effective programs and strategic governance. KPIs, or metrics, define standards of efficiency, performance, progress and ministry outcomes. See if the following equations make sense: If numbers + statistical information = ratios, THEN Ratios = Performance Metrics Why? That s an excellent question As accountants, we love financial statements and numbers, row after row after row. But, we re the number-crunchers and you should expect us to love reams of financial reports. The more, the better! We would never conceive of less is more. Church leaders aren t typically accountants. So, what s meaningful to we CPAs is uneventful for them. From a numbers standpoint, each Monday morning the senior pastor really has five questions he or she needs answered: 1) What was attendance this past weekend? 2) How much was the weekend deposit(s)? 3) Is payroll covered? 4) Has the mortgage been paid? 5) Are we on track (translation: on budget)? These five broad questions relate to performance and, ultimately, to church sustainability. Numeric data tells a story that drives church If performance metrics = effective ministry, THEN Effective ministry + STAKEHOLDERS = SUSTAINABILITY Can you see how this information could give senior leadership tools to sustain the growing demands or opportunities of their congregation? These metrics are snapshots that define the operational, financial or spiritual health of a church. If a picture is worth a thousand words, then a thousand pictures create what? A story. A story that defines effective ministry and sustainability. Join us over the next several issues as we explore 10 church metrics that define and drive sustainable ministry for churches. Rebecca DaVee is a partner with Salmon Sims Thomas & Associates. She has been working with churches, ministries, televangelists and other tax-exempt organizations for more than 30 years. For more information, visit If a picture is worth a thousand words, then a thousand pictures create what? A STORY. A story that defines effective ministry and sustainability. METRICS THAT DRIVE SUSTANABILITY CHURCH EXECUTIVE 3
4 Measuring ministry activities Numbers tell the story, always. Whether you re looking backwards (historical perspective or what was ), or whether you can project operations forward, ministry leaders use data to analyze what if. Churches operate from one week to the next, resulting in 52 weekly cycles. Whether your weekend service begins on Friday, Saturday or Sunday, cash comes in (contributions) and cash goes out (ministry expenses). Trends develop over time, and ministry leaders can effectively navigate risks and opportunities by using and understanding Key Performance Indicators (KPIs). Common Scenario: Mega church has four locations with multiple services each weekend. Forward-thinking ministry leaders monitor donations: 1) Date week over week 2) Location month over month 3) Activity year over year We have created 6 operating metrics that result in effective: 1) Donor development 2) Fundraising efforts 3) Resource allocation 4) Personnel costs 5) Facility management 6) Short-term cash management KPI #1: Effective Donor Development By using the following formula, churches monitor donations and how certain criteria increase or decrease the average donation: Total Contributions / # of Donors = Average Donation by Donor This computation can be performed annually or by specific events (example: Easter), by date, by location, by service. Imagine how forwardthinking leaders could use the following data: KPI #2: Effective Fundraising Activities To evaluate fundraising activities compare the contributions raised with total fundraising costs using the following formula: Total contributions / Total Fundraising Expenses = Cost of raising $1 of donations The lower the cost of raising funds indicates effective fundraising activities (example: $8 versus $2.50). It is important to accumulate all fundraising costs (direct and indirect). Anytime a church asks for support (written or verbal ask) solicitation occurs. Churches should capitalize and duplicate effective fundraising activities. KPI #3: Effective Resource Allocation Churches raise support for ministry activities and are grouped as follows: 1) Program Services = Church activities (examples: evangelism, worship, education, missions) 2) Member Development = Orientation, training 3) Support Services = General and administrative costs 4) Fundraising Activities = Direct and indirect costs used to raise funds Visualize your annual budget. How much of your resources are used to support church activities versus general and administrative costs? Program Services Evangelism $150,000 Worship 100,000 Education 100,000 Missions and outreach 300, ,000 (65%) Member Development 75,000 (7.5%) General and Administrative 200,000 (20%) Fundraising Activities 75,000 (7.5%) Total Budgeted Expenses $1,000,000 (100%) I encourage you to review your budget and see how resources are allocated between program and supporting services (examples: member development, general and administrative and fundraising activities). Should more resources be focused on program services? Should 80% be allocated to program activities versus 60%? Ask your donors. KPI #4: Effective Personnel Analysis How much of your resources are invested in personnel? Your personnel are responsible for fostering your church s tax-exempt activities. Personnel are classified into three groups: paid staff, independent contractors, and volunteers. How much of your budget is invested in personnel? Analyze your costs based on the following formula: Total compensation costs / Total expenses = % of budget invested in personnel Total compensation costs / # of FTEs = average employee compensation KPI #5: Effective Facility Management How much of your budget is invested in your facilities? Total occupancy costs / Total expenses = % of Operations to maintain bricks and mortar What are your occupancy costs by square foot of common space? Total occupancy costs / Total square feet of common (usable) space = Cost per square foot How much of your resources are dedicated to replacing your property, plant and equipment? Replacement costs can be defined as the annual cost of depreciation (multiplied by the annual cost of inflation). Even though depreciation is a non-cash expense, it is the amortized cost of the asset. It s important to use this expense to fund future replacement costs. As part of your year-end closing procedures, consider creating a board-designated replacement reserve as part of the church s unrestricted net assets. KPI #6: Effective Short-Term Cash Management Our last operational metric calculates short-term cash flow requirements. Unrestricted cash / Annual cash disbursements = # of months available to fund operations Best practices indicate that churches should maintain three to six months of unrestricted cash to fund operating expenses. By tracking this metric, year over year, cash management trends are identified and can be effectively managed. This metric allows the church to create a reserve policy for short-term and long-term cash flow requirements. This article is the second in a four-part series that explores 10 Church Metrics that Drive Sustainability. Our third article will explore metrics that define effective use of resources. Rebecca DaVee is a partner with Salmon Sims Thomas & Associates [ ]. She has been working with churches, ministries, televangelists and other tax-exempt organizations for more than 30 years. 4 CHURCH EXECUTIVE METRICS THAT DRIVE SUSTANABILITY
5 Understanding metrics that quantify leveraged assets In 1856, 16 individuals formed First Presbyterian Church of Dallas. For 15 years, the congregation met in various locations, including the Dallas County Courthouse. 4 key debt-related key performance indicators (KPIs) Our first set of debt-related KPIs helps churches measure the cost of debt to the annual operating budget (cash expenses), and to total equity. How much of your annual budget is consumed by interest and debt payments? What is the average interest rate for your debt, and what is your debt-toequity ratio? Formula: 1) Interest expense divided by total cash expenses = % of total costs paid to finance debt 2) Debt retirement (principal and interest) divided by cash expenses = % of budget dedicated to retiring debt 3) Interest expense divided by total debt = average rate of financing 4) Total debt divided by total net assets (i.e., equity) = % of resources dedicated to financing long-term assets Our second set of KPIs focuses on the cost of maintaining your facility and equipment. These fixed assets represent resources invested in the physical brick and mortar of the church. Our metrics calculate the percentage of PP&E to total assets, utility cost per square foot, repair and maintenance cost per square foot and the prospective replacement reserves for PP&E. Fast forward to 1872 the Dallas Presbyterians had found a new church home, located on Elm and Ervay. With the arrival of the railroads, downtown Dallas grew, as did the Presbyterian Church. The congregation secured land and a loan for $2,500 for a new building located on the corner of Harwood and Main. In 1893, the building was enlarged and remodeled to accommodate a growing congregation. By 1909, church leadership elected to sell the property for $100,000 and relocate to the southwest corner of Wood and Harwood Streets. The land and construction cost of the new facility was $150,000. The building still stands today, and has retained its historical architectural design. It continues to be used by First Presbyterian for ministry and worship. Healthy and sustained growth has certain criteria, represented by ministerial support, in the form of both people and funds. We can look to the pattern developed by First Presbyterian as an example of sustained growth. People gather to worship and serve a community. Over time, attendance and membership increase, providing additional funds for ministry and an expanding footprint. Funds for First Presbyterian were raised and leveraged, land was purchased, and buildings were constructed and eventually sold, with the proceeds going towards investing in a new facility. This is the funding cycle. Leveraging a church s short-term assets (cash / liquid investments) to expand long-term assets (property, plant, equipment or marketable / private investments) should provide facilities and investment earnings for ministry. Servicing debt (principal and interest) uses operating funds, and maintaining land and buildings requires maintenance; these assets depreciate over time. Buying publicly-traded stocks, bonds, mutual funds or other investments can provide earnings that are used for ministry activities. The following three metrics help us evaluate the cost of financing debt; assets held for property, plant and equipment; and funds invested in public and private financial markets. Formula: 1) Total costs of fixed assets used in operations divided by total assets = resources invested in brick and mortar 2) Total utility costs (or total of any other occupancy cost) divided by total square feet of your buildings 3) Annual depreciation expense (amortized cost of the asset) may be used to set aside earnings (net assets) to replace PP&E. (This helps churches create a repair and replacement fund.) The previous KPIs measured the long-term assets that serve in ministry operations. Our last set of KPIs measures ministry resources that generate investment earnings for churches. When churches effectively use excess reserves to generate income, to support its mission then funds are regenerating earnings for the church. The formula below is an example on how to effectively monitor those funds: 1) Total investments divided by total assets = % of assets invested in public/ private markets 2) Investment earnings divided by total investments = % of return from public investment pools The life cycle of a church indicates that as membership / attendance grows, larger or more facilities are needed for activities. Churches that can successfully save and create reserves for future plant expansion have a significant advantage in managing debt retirement. The costs of maintaining your physical assets are also a significant component of your annual budget. The overarching question to leadership remains how much of your accumulated earnings should or can be used to maintain long-term assets? The answer to this question changes over time and circumstances; however, long-term sustainability with long-term goals are key. Rebecca M. DaVee, CPA, is a partner with Salmon Sims Thomas & Associates [ ]. She has been working with churches, ministries, televangelists and other tax-exempt organizations for more than 30 years, helping church leaders create metrics for sustainability. METRICS THAT DRIVE SUSTANABILITY CHURCH EXECUTIVE 5
6 R 50% 25% 75% $50 100% 100% $25 $75 0% FUND RAISING GOAL 100% 0% BUDGET EXPENSES 0% $0 AVERAGE DONATION $100 CHURCH / NPO METRICS THAT DRIVE SUSTAINABILITY Cloudkeeping, a division of Salmon Sims Thomas, provides virtual accounting and advisory services to small, medium and large businesses, faith-based and nonprofit organizations. Our team will deliver comprehensive real-time solutions through the cloud for financial management, reporting and compliance. Access anytime and anywhere. Streamlined reporting and compliance. Seamless integration with key systems. Substantial return on investment. Ensure strong financial controls.
Policies, Procedures, Guidelines 053
Stewardship Principles Aversboro Road Baptist Church believes that the principle means for the financial support of the ministry of the church in its local as well as global witness is the tithes, offerings
More informationACCOUNTING MEASUREMENTS AND METRICS FOR NPO S
ACCOUNTING MEASUREMENTS AND METRICS FOR NPO S Presented by: David J Piscorik, CPA Stancil & Company, CPAs 4909 Windy Hill Drive Raleigh, NC 27609 919/872-1260 dpiscorik@stancilcpa.com ABOUT THE SPEAKER
More informationNORTHWEST HAITI CHRISTIAN MISSION, INC. Financial Statements
Financial Statements Years Ended December 31, 2016 and 2015 CONTENTS Page Independent Auditor s Report 1 2 Statements of Financial Position 3 Statements of Activities 4 Statements of Functional Expenses
More informationLending to Specialized Industries
Lending to Specialized Industries Church Lending by the Numbers by John J. McGovern Although it s often called church lending, this specialized form of lending applies to many other religious institutions.
More informationFinancial Management for your Congregation
Financial Management for your Congregation Rev. Karen McArthur CONGREGATIONAL FINANCE LLC LLC Financial management for faith communities Welcome! Our goal is to gain an understanding of how you can add
More informationFINANCIAL INTEGRITY INDEX
FINANCIAL INTEGRITY 1 INDEX 1. Purpose of this document 2 Pages 2. Role of Treasurer, Finance Team and Leadership Team (elders) 3-4 3. Handling of weekly offerings and other cash receipts 5-6 4. Budgeting
More informationRIVER POINTE COMMUNITY CHURCH, INC. FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT MARCH 31, 2014
RIVER POINTE COMMUNITY CHURCH, INC. FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT MARCH 31, 2014 Table of Contents Page INDEPENDENT AUDITORS REPORT...1-2 FINANCIAL STATEMENTS Statement of Financial
More informationChapter 21: Chart of Accounts
Chapter 21: Chart of s GAAP ACCOUNTING FOR NON-PROFITS... 100 ing Basis for Churches... 150 TYPICAL FUNDS... 200 CHART OF ACCOUNTS... 400 EXPENDITURES... 500 EXPENSE ACCOUNT CLASSIFICATIONS... 600 CHART
More informationGRACE CHURCH OF OVERLAND PARK FINANCIAL STATEMENTS. Year Ended December 31, 2015 with Independent Auditors Report
GRACE CHURCH OF OVERLAND PARK FINANCIAL STATEMENTS Year Ended with Independent Auditors Report FINANCIAL STATEMENTS CONTENTS Page Independent Auditors Report...1 2 Financial Statements: Statement of Financial
More informationLoaves & Fishes Community Pantry
Independent Auditor's Report and Financial Statements Robert R. Witt, Jr., CPA, PC 608 South Washington Street, Unit 307 Naperville, Illinois 60540 Dated: September 4, 2013 Table of Contents Independent
More information2016 Statement of ROI
2016 Statement of ROI THE RETURN ON INVESTMENT CREATED BY PROVIDING CHILDREN S BIBLE LESSONS, A PROGRAM OF THE MAILBOX CLUB, FOR THE YEAR ENDING DECEMBER 31, 2016 Prepared by: for: ROI Ministry 780 Old
More information10 Things CHURCH LEADERS ARE ASKING ABOUT BOARDS AND BYLAWS
10 Things CHURCH LEADERS ARE ASKING ABOUT 1. Should Our Board Incorporate the Ministry? Incorporating a ministry can make it easier to do business and can provide personal liability protection for leaders
More informationNonprofit Financials: What Your Board Needs to Know. Association TRENDS. Nat Bartholomew, CPA Partner CliftonLarsonAllen
Nonprofit Financials: What Your Board Needs to Know Association TRENDS Nat Bartholomew, CPA Partner CliftonLarsonAllen Tuesday, February 5, 2013 3:00 4:30 EST 1 1 About CliftonLarsonAllen CliftonLarsonAllen
More informationNORTHEASTERN MINNESOTA SYNOD OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA FINANCIAL STATEMENTS YEARS ENDED JANUARY 31, 2016 AND 2015
FINANCIAL STATEMENTS YEARS ENDED JANUARY 31, 2016 AND 2015 DULUTH, MINNESOTA TABLE OF CONTENTS Page No. Independent Auditor s Report 1 FINANCIAL STATEMENTS Statements of Financial Position 2 Statements
More informationMennonite Church USA Treasurer s Handbook
Mennonite Church USA Treasurer s Handbook Sample Guidelines/Policies 1. Counting the money how to play it safe 2. Pastor s housing allowance worksheet 3. Pastor s living in a parsonage worksheet 4. Memorial
More informationSELC District - Lutheran Church Missouri Synod
SELC District - Lutheran Church Missouri Synod Financial Policy Guidelines Third Draft - January 10, 2005 Page 1 of 11 Introduction The Lutheran Church-Missouri Synod publishes a Congregational Treasurer
More informationof The Community Church of Chapel Hill Unitarian Universalist Laurence D. Kirsch, Treasurer
of The Community Church of Chapel Hill Unitarian Universalist Laurence D. Kirsch, Treasurer September 2015 1 The Community Church of Chapel Hill continues to be in excellent financial condition. We have
More informationWhy Cash is Different
BY STEVE ANTILL Why do we say cash is king? It s one of the most powerful assets in your company, because it sets the reality for your business every day of your project cycle not just at year-end when
More informationTrue Program Costs: Program Budgets and Allocations
True Program Costs: Program Budgets and Allocations While the long-term goal for nonprofits is not to return profits to shareholders, we all know that nonprofits are business entities that need to maintain
More informationCHARITABLE CONTRIBUTIONS AND FUND MANAGEMENT
CHARITABLE CONTRIBUTIONS AND FUND MANAGEMENT TREASURER BUDGET/FINANCE COMMITTEE STEWARDSHIP MINISTRY TEAM For more information contact: Leadership & Worship Team, Arkansas Baptist State Convention In State:
More informationFIRST UNITED METHODIST CHURCH OF AUSTIN, TEXAS, INC. CONSOLIDATED FINANCIAL STATEMENTS, SUPPLEMENTARY INFORMATION, AND INDEPENDENT AUDITORS' REPORT
FIRST UNITED METHODIST CHURCH OF AUSTIN, TEXAS, INC. CONSOLIDATED FINANCIAL STATEMENTS, SUPPLEMENTARY INFORMATION, AND INDEPENDENT AUDITORS' REPORT FIRST UNITED METHODIST CHURCH OF AUSTIN, TEXAS, INC.
More informationARM IN ARM, INC. FINANCIAL STATEMENTS SIX MONTHS ENDED JUNE 30, 2017
FINANCIAL STATEMENTS SIX MONTHS ENDED JUNE 30, 2017 SIX MONTHS ENDED JUNE 30, 2017 I N D E X Independent Auditors' Report 1-2 Financial Statements: Statement of Financial Position 3 Statement of Activities
More informationNORTHWEST HAITI CHRISTIAN MISSION, INC. Financial Statements
Financial Statements Years Ended December 31, 2015 and 2014 CONTENTS Page Independent Auditor s Report 1 2 Statements of Financial Position 3 Statements of Activities 4 Statements of Functional Expenses
More informationThe Case for Choosing the Correct Software
The Case for Choosing the Correct Software James B. Jordan, CPA, CFE, CGMA A diocese or parish cannot successfully manage their activities without timely, accurate financial information properly represented
More informationPLEDGE MAKE YOUR PLEDGE LAST FOR ETERNITY
Endow Your Pledge Donor Program Guide E N D OW YO U R PLEDGE MAKE YOUR PLEDGE LAST FOR ETERNITY THANK YOU FOR YOUR GENEROSITY Your gifts to our church have long sustained our congregation. All of us here
More information#7: Financial Projections
Food Business Entrepreneurial Training Academy #7: Financial Projections Alameda County SBDC Alameda County Conference Center February 15, 2017 Thank you to Our Sponsor Financial Projections Start-up Budgeting-or
More informationAs Our Own Compiled Financial Statements
Compiled Financial Statements For the Year Ended December 31, 2010 Page 1 of 9 Compiled Financial Statements Table of Contents Compilation Report 3 Financial Statements: Statement of Financial Position
More informationA SIMPLE GESTURE C H U R C H E S E N D I N G H U N G E R I N G R E E N S B O R O
A SIMPLE GESTURE C H U R C H E S E N D I N G H U N G E R I N G R E E N S B O R O ENGAGE YOUR CHURCH TO END HUNGER Thank you so much for partnering with A Simple Gesture! Your help will ensure that local
More informationTable of Contents Reporting to MCC. 002 Monthly Ministry Report Form 003 The Report Forms. 003 Calculating the Reports Tithable Income 004
1 Reporting to MCC 2 Table of Contents Reporting to MCC. 002 Monthly Ministry Report Form 003 The Report Forms. 003 Calculating the Reports.. 003 Tithable Income 004 Non-tithable Income 004 Building Fund..
More informationFreeChurchAccounting.com
FreeChurchAccounting.com Presents Basic Fund Accounting SOLD TO THE FINE sobaokokoromo1@aol.com Basic Fund Accounting By Vickey Boatright Ver. 4.2 Copyright 2015 Free Church Accounting www.freechurchaccounting.com
More informationHEARTLAND PRESBYTERY, INC. AND AFFILIATE. CONSOLIDATED FINANCIAL STATEMENTS (Modified Cash Basis) with INDEPENDENT AUDITORS REPORT
HEARTLAND PRESBYTERY, INC. AND AFFILIATE CONSOLIDATED FINANCIAL STATEMENTS (Modified Cash Basis) with INDEPENDENT AUDITORS REPORT TABLE OF CONTENTS Page INDEPENDENT AUDITORS REPORT...1-2 FINANCIAL STATEMENTS:
More informationNew Life Evangelistic Center 2007 Independent Financial Audit
New Life Evangelistic Center 2007 Independent Financial Audit Audited Financial Statements for the Year Ended December 31, 2007* In our opinion, the financial statements referred to [below] present fairly,
More informationCOMPENSATION GUIDELINES FOR AUTHORIZED MINISTERS
Southwest Conference United Church of Christ COMPENSATION GUIDELINES FOR AUTHORIZED MINISTERS Recommendations by the Southwest Conference UCC Figures as of 12/31/2016 Salary/housing guidelines to be up-dated
More informationRequest to Encumber. Guidelines
Request to Encumber Guidelines Statement of Process The Book of Order of the Presbyterian Church, USA, requires that the Pittsburgh Presbytery receive and review for approval all proposals for the mortgage
More informationProgram Evaluation and Audit COUNTY CONTRACTOR ADA COST REVIEW DARTS AND SCOTT COUNTY
Program Evaluation and Audit COUNTY CONTRACTOR ADA COST REVIEW DARTS AND SCOTT COUNTY October 27, 2006 Background INTRODUCTION The Metropolitan Council contracts with four County governments (Anoka, Dakota,
More informationCAPITAL FAITH, LLC CHURCH LOANS
CAPITAL FAITH, LLC CHURCH LOANS Mortgage Loan Application TEL: (203) 975-8552 * FAX: (203) 353-1162 Contact: Pierre R. Lubin capitalfaith@capitalfaith.com Name of Church: Church Mailing Address: Church
More informationPALM HEALTHCARE FOUNDATION, INC. AND SUBSIDIARY REPORT ON AUDIT OF CONSOLIDATED FINANCIAL STATEMENTS
REPORT ON AUDIT OF CONSOLIDATED (with comparable totals for 2016) TABLE OF CONTENTS PAGE INDEPENDENT AUDITOR'S REPORT 1-2 CONSOLIDATED Consolidated Statement of Financial Position 3 Consolidated Statement
More informationCHRONIC DISEASE FUND, INC. FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT DECEMBER 31, 2012
CHRONIC DISEASE FUND, INC. FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT DECEMBER 31, 2012 SALMON SIMS THOMAS Accountants and Consultants To the Board of Trustees of Chronic Disease Fund, Inc. INDEPENI)ENT
More informationLIQUIDITY A measure of the company's ability to meet obligations as they come due. Financial Score for Restaurant
Dear Client: In an effort to bring you more value as a financial management advisor, we have initiated a program to present your financial statements in an easier-to-read and more useful format. We are
More informationPolicy on Restricted and Designated Funds
Policy on Restricted and Designated Funds The Right Reverend Scott B. Hayashi, Eleventh Bishop of Utah Policy Number: B004 Revision Number: 1 Approved by the Bishop and Diocesan Council: November 2009
More informationEvangelical Lutheran Church in Canada
Financial statements Evangelical Lutheran Church in Canada Independent auditors report To the National Church Council of the Evangelical Lutheran Church in Canada We have audited the accompanying financial
More informationNONPROFIT AGENDAS: STRATEGIES AND SOLUTIONS FOR CONTINUING TO GROW YOUR NONPROFIT ORGANIZATION
NONPROFIT AGENDAS: STRATEGIES AND SOLUTIONS FOR CONTINUING TO GROW YOUR NONPROFIT ORGANIZATION NOVEMBER 2010 THE WORLD OF QUID PRO QUO: WHEN A DONATION ISN T SIMPLY A DONATION A contribution to a charity
More informationFRESH START WOMEN S FOUNDATION
FINANCIAL STATEMENTS FINANCIAL STATEMENTS CONTENTS INDEPENDENT AUDITORS' REPORT 1 Pages FINANCIAL STATEMENTS Statement of Financial Position 2 Statement of Activities 3 Statement of Functional Expenses
More informationButler County United Way. Report on Financial Statements. Years Ended June 30, 2018 and 2017
Report on Financial Statements Table of Contents Page Independent Auditor's Report... 1-2 Financial Statements Statements of Financial Position... 3 Statements of Activities... 4-5 Statements of Functional
More informationCLERK S ANNUAL QUESTIONNAIRE FOR YEAR ENDING DECEMBER 31, Survey Questions and Responses
CLERK S ANNUAL QUESTIONNAIRE FOR YEAR ENDING DECEMBER 31, 2012 Survey Questions and Responses Clerks of Session May Find it Necessary to Consult with Pastors, Treasurers, or Other Leaders on Some Questions.
More informationPerformance Planning and Review Process Workbook
2011 Performance Planning and Review Process Workbook Southwest California Synod Evangelical Lutheran Church in America [This page intentionally left blank] 2011 Performance Planning and Review Process
More informationThomas Jefferson Memorial Church Unitarian Universalist
Thomas Jefferson Memorial Church Unitarian Universalist Coming together in love; reaching out in service. TJMC-UU 2017-2018 Proposed Budget What s New This Year Your Board of Trustees is excited to present
More informationFIRST BAPTIST CHURCH OF FRISCO
FIRST BAPTIST CHURCH OF FRISCO Financial Statements (With Auditor s Report Thereon) Year Ended June 30, 2014 TABLE OF CONTENTS INDEPENDENT AUDITOR S REPORT..............................................
More informationWestheights Community Church Unaudited Statement of Receipts and Disbursements for the year ended December 31st, 2016
Unaudited Statement of Receipts and Disbursements for the year ended December 31st, 2016 2015 Budget 2015 Actual 2016 Budget 2016 Actual 2017 Budget General Fund Regular Giving - Receiptable 379,775 394,340
More informationDonald and Virginia Sherwood Trust Financial Statement Guidelines for Applicants
Donald and Virginia Sherwood Trust Financial Statement Guidelines for Applicants In an effort to make financial reporting more transparent and understandable, the Sherwood Trust has worked closely with
More informationFRIST CENTER FOR THE VISUAL ARTS, INC.
FRIST CENTER FOR THE VISUAL ARTS, INC. AUDITED FINANCIAL STATEMENTS TABLE OF CONTENTS Page Independent Auditor's Report... 1 Financial Statements Statements of Financial Position... 3 Statements of Activities...
More informationLANSING ART GALLERY, INC. (A NON-PROFIT CORPORATION) FINANCIAL STATEMENTS AND INDEPENDENT ACCOUNTANTS REVIEW REPORT
(A NON-PROFIT CORPORATION) FINANCIAL STATEMENTS AND INDEPENDENT ACCOUNTANTS REVIEW REPORT FOR THE YEARS ENDED JUNE 30, 2015 AND 2014 CONTENTS INDEPENDENT ACCOUNTANTS REVIEW REPORT 1 STATEMENTS OF FINANCIAL
More informationUnderstanding Financial Statements: The Basics
Coaching Program Understanding Financial Statements: The Basics 2010-18 As business owners or investors, most of us are at least familiar with the concept of financial statements. We understand that we
More informationAn Example. Document. St Jagielka. Walton. Giving in Grace
An Example Document St Jagielka Walton Giving in Grace 2015 www.givingingrace.org 1 Section 1: strengths, weaknesses & plans This section of the case statement offers reflection on maintenance, mission
More informationINDEPENDENT AUDITOR S REPORT
INDEPENDENT AUDITOR S REPORT To the Board of Directors of Christian Legal Society We have audited the accompanying financial statements of Christian Legal Society (a nonprofit organization), which comprise
More informationWoods Memorial Presbyterian Church. Lasting Legacies Policy. February 19, 2014
Woods Memorial Presbyterian Church Lasting Legacies Policy TABLE OF CONTENTS Section Heading Page SECTION 1 Establishment and Purpose of The Woods Church Lasting Legacies 2 SECTION 2 Definitions 2 SECTION
More informationINDOOR AQUATICS CENTER
INDOOR AQUATICS CENTER FEASIBILITY & ANALYSIS PRESENTATION City of Cambridge, MN Aquatics Task Force ORB Management Corporation November 16, 2015 AGENDA Topics 1. Task Force Purpose 2. Project Parameters
More informationLiving Water Ministries, a Shared Ministry of the Lower Michigan Synods of the ELCA
FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT January 31, 2015 and 2014 C O N T E N T S INDEPENDENT AUDITORS' REPORT... 1 FINANCIAL STATEMENTS STATEMENT OF FINANCIAL POSITION... 3 STATEMENT OF
More informationRedeemer Presbyterian Church of New York City and Affiliate. Consolidated Financial Statements. December 31, 2009
Redeemer Presbyterian Church of New York City and Affiliate Consolidated Financial Statements December 31, 2009 Independent Auditors' Report To The Trustees and the Session Redeemer Presbyterian Church
More information2016 Statement of ROI
2016 Statement of ROI THE RETURN ON INVESTMENT CREATED BY ONLINE GOSPEL PRESENTATIONS, A PROGRAM OF GLOBAL MEDIA OUTREACH, FOR THE FISCAL YEAR ENDING AUGUST 31, 2016 Prepared by: for: ROI Ministry 780
More informationGeneral Information, Expectations, Policies, Terms and Conditions PLEASE READ CAREFULLY
General Information, Expectations, Policies, Terms and Conditions PLEASE READ CAREFULLY Thank you for your interest in the Street Reach Ministries in Memphis, TN! We are now enlisting mission teams for
More informationReligious Organization Issues
Religious Organization Issues Introduction Definition of church Tax-exempt status Payments for Services Employment taxes Required forms Electing out of employment taxes Payments for Services Payments for
More informationSurfside United Methodist Church Policies and Procedures Accounting, Receivables, Payables
These policies and procedures apply to all church members and groups who use the church s Tax Identification Number (TIN), including all church ministries and church-sponsored activities. All Church ministries
More informationThe Church in Wales Membership and Finances
The Church in Wales Membership and Finances 2014 Welcome to the Church in Wales Membership and Finances report for 2014. This year s report is based upon a 94% return from Church in Wales parishes, and
More informationFinance. Training Manual
Finance Training Manual Introduction to Finance Module Shepherd s Staff Finance module lets you keep track of your church s financial information. This manual will walk you through setting up a chart of
More informationRIVERSIDE COVENANT CHURCH, INC. Reviewed Financial Statements June 30, 2016
Reviewed Financial Statements June 30, 2016 JUNE 30, 2016 TABLE OF CONTENTS Independent Accountants Review Report 1 Statement of Financial Position Modified Cash Basis 2 Statement of Activity Modified
More informationLOCAL CHURCH REPORT TO THE ANNUAL CONFERENCE
Instructions for Table 1 1 Enter here the figure reported on Line 9 of last year s Local Church Report. Do not use this line to correct the previous year s report. Corrections, if necessary, may be made
More informationRochester Area Habitat for Humanity Rochester, Minnesota. Financial Statements June 30, 2011 and 2010
Rochester Area Habitat for Humanity Rochester, Minnesota Financial Statements June 30, 2011 and 2010 Rochester Area Habitat for Humanity Table of Contents Independent Auditor's Report 1 Financial Statements
More informationRedeemer Presbyterian Church of New York City and Affiliate. Consolidated Financial Statements. December 31, 2011
Redeemer Presbyterian Church of New York City and Affiliate Consolidated Financial Statements December 31, 2011 Independent Auditors' Report The Trustees and The Session Redeemer Presbyterian Church of
More informationBudgeting and Financial Planning in Uncertain Times NC Center for Nonprofits Embracing Uncertainty Conference
Two Perspectives Mechanics of budgeting and planning Preparing for and responding to funding crises The Budget Process Document the budget Shows spending priorities and revenue expectations Identifies
More informationGreat Plains Conference Local Church Report to the Annual Conference (Statistical Report) FREQUENTLY ASKED QUESTIONS
Great Plains Conference Local Church Report to the Annual Conference (Statistical Report) FREQUENTLY ASKED QUESTIONS CATEGORIES A. General Questions B. Membership C. Health Insurance D. Benevolent Giving
More informationMadison Children's Museum, Inc. and Affiliate
Madison Children's Museum, Inc. and Affiliate Consolidated Financial Report C O N T E N T S Page INDEPENDENT AUDITOR'S REPORT 1 FINANCIAL STATEMENTS Consolidated statements of financial position 3 Consolidated
More informationVINCENTIAN GUIDE TO THE CREDIT FOR CONTRIBUTIONS TO QUALIFYING CHARITABLE ORGANIZATIONS
VINCENTIAN GUIDE TO THE CREDIT FOR CONTRIBUTIONS TO QUALIFYING CHARITABLE ORGANIZATIONS (Formerly known as the Working Poor Tax Credit) Utilizing the Tax Credit to Increase Conference Donations to Further
More informationBuilding Budgets SEMINAR LEADER Amanda Schlank, CPA SingerLewak LLP
Building Budgets SEMINAR LEADER Amanda Schlank, CPA SingerLewak LLP 10960 Wilshire Blvd., Suite 700 Los Angeles, CA 90024 (310) 477-3924 aschlank@singerlewak.com SEMINAR LEADER Amanda Schlank, CPA SingerLewak
More informationLondon City Presbyterian Church
Scottish Charity No SC046419 London City Presbyterian Church Trustees Report and Financial Statements Year Ended 31 December 2016 Contents of the Financial Statements for the year ended 31 December 2016
More informationMosaic Baptist Church New Operating Model Version 1.1
New Operating Model Version 1.1 Version Control Sheet Version Author Description Date Reviewed By Date 1.0 MRT First Draft 13.01.15 Mosaic Leaders 07.02.15 1.1 MRT Updated with Leadership feedback 08.02.15
More informationKey Performance Indicators. An Introductory Guide. Stephen Mabey Managing Director
Key Performance Indicators An Introductory Guide Stephen Mabey Managing Director smabey@appliedstrategies.ca 902.472.3032 Key Performance Indicators An Introductory Guide All rights reserved. No part of
More information#7: Financial Projections
Food Business Entrepreneurial Training Academy #7: Financial Projections Alameda County SBDC DUBLIN, CA 11/13/18 Thank you to Our Sponsor Financial Projections Start-up Budgeting-or Start-up Capital Investment
More informationFRIST CENTER FOR THE VISUAL ARTS, INC.
FRIST CENTER FOR THE VISUAL ARTS, INC. AUDITED FINANCIAL STATEMENTS TABLE OF CONTENTS Page Independent Auditor's Report... 1 Financial Statements Statements of Financial Position... 3 Statements of Activities...
More informationFRIST CENTER FOR THE VISUAL ARTS, INC.
FRIST CENTER FOR THE VISUAL ARTS, INC. AUDITED FINANCIAL STATEMENTS TABLE OF CONTENTS Page Independent Auditor's Report... 1 Financial Statements Statements of Financial Position... 3 Statements of Activities...
More informationPRESBYTERY OF SANTA BARBARA
PRESBYTERY OF SANTA BARBARA FINANCIAL STATEMENTS DECEMBER 31, 2016 AND 2015 PRESBYTERY OF SANTA BARBARA TABLE OF CONTENTS December 31, 2016 and 2015 Independent Auditor's Report.......... 1-2 Statements
More informationMay 2017 Financial Overview
May 2017 Financial Overview 1 Village Bible Church 1 Church: 4 Campuses Contributions Actual $671,870 $789,583 May 2017 YTD Village Bible Church 1 Church: 4 Campuses Expenses Actual $712,076 $729,194 May
More informationJuly 2017 Financial Overview
July 2017 Financial Overview 1 Village Bible Church 1 Church: 4 Campuses Contributions Actual $934,503 $1,105,417 July 2017 YTD Village Bible Church 1 Church: 4 Campuses Expenses Actual $989,135 $1,019,420
More informationFRESH START WOMEN S FOUNDATION
FINANCIAL STATEMENTS FINANCIAL STATEMENTS CONTENTS INDEPENDENT AUDITORS' REPORT 1 Pages FINANCIAL STATEMENTS Statement of Financial Position 2 Statement of Activities 3 Statement of Functional Expenses
More informationFinancial Statements Years Ended December 31, 2015 and Christ United Methodist Church, Inc.
Financial Statements Years Ended December 31, 2015 and 2014 Christ United Methodist Church, Inc. Christ United Methodist Church, Inc. Contents Page Independent Accountants' Review Report 1 Financial Statements
More informationFRESH START WOMEN S FOUNDATION
FINANCIAL STATEMENTS FINANCIAL STATEMENTS CONTENTS INDEPENDENT AUDITORS' REPORT 1 Pages FINANCIAL STATEMENTS Statement of Financial Position 2 Statement of Activities 3 Statement of Functional Expenses
More informationFAQ on Property Tax for Churches and Homeschool Programs
FAQ on Property Tax for Churches and Homeschool Programs By Carol Topp, CPA HomeschoolCPA.com Last update April 5, 2019 Many homeschool groups use churches for their educational programs. These groups
More information2018 Compensation Guidelines for Authorized Ministers in the Indiana-Kentucky Conference -United Church of Christ
2018 Compensation Guidelines for Authorized Ministers in the Indiana-Kentucky Conference -United Church of Christ People who serve as pastors generally do so because they love Christ's Church. Most realize
More informationMountain Sky Conference of The United Methodist Church 2019 Budget Commentary
Mountain Sky Conference of The United Methodist Church 2019 Budget Commentary Our 2019 budget reflects the overarching goal of the Mountain Sky Conference of The United Methodist Church: to live in God's
More informationUnited Way, Inc. Year Ended June 30, 2014, With Summarized Financial Information for the Year Ended June 30, 2013 With Report of Independent Auditors
F INANCIAL S TATEMENTS Year Ended June 30, 2014, With Summarized Financial Information for the Year Ended June 30, 2013 With Report of Independent Auditors Ernst & Young LLP Financial Statements Year Ended
More informationNonprofit Financial Reporting: Implementing the New Standard
Nonprofit Financial Reporting: Implementing the New Standard Presented by Dave Ljung, President and CEO, Bobbie Hales, Director of the Firm s Nonprofit and Association Services and our management team
More informationMARIE WILKINSON FOOD PANTRY, INC.
FINANCIAL STATEMENTS Year Ended December 31, 2017 Year Ended December 31, 2017 TABLE OF CONTENTS Page Number INDEPENDENT AUDITOR S REPORT 1 FINANCIAL STATEMENTS Statements of Financial Position 3 Statements
More informationLighthouse Covenant Church Balance Sheet December 31, 2017 and LESASEHOLD IMPROVEMENTS, EQUIPMENT, FIXTURES, net 1,719,073 -
Balance Sheet December 31, 2017 and 2016 ASSETS 2017 (accrual basis) 2016 (cash basis) CURRENT ASSETS Cash and cash equivalents $ 1,602,401 $ 1,434,586 Cash Letter of Credit 152,159 150,428 Accounts Receivable
More informationALABAMA-WEST FLORIDA UNITED METHODIST DEVELOPMENT FUND, INC. P. O. BOX 8066 DOTHAN, ALABAMA /FAX
ALABAMA-WEST FLORIDA UNITED METHODIST DEVELOPMENT FUND, INC. P. O. BOX 8066 DOTHAN, ALABAMA 36304 334-793-6820/FAX 334-794-6480 APPLICATION FOR LOAN FROM ALABAMA-WEST FLORIDA UNITED METHODIST DEVELOPMENT
More informationWESTSIDE HOMELESS PARTNERSHIP, INC. (A TEXAS NONPROFIT ORGANIZATION) FOR THE YEARS ENDED JUNE 30, 2017 AND 2016 CONTENTS
(A TEXAS NONPROFIT ORGANIZATION) FOR THE YEARS ENDED JUNE 30, 2017 AND 2016 CONTENTS Independent Auditors Report 1 Financial Statements Statements of Assets, Liabilities and Net Assets Modified Cash Basis
More informationCharitable Gift Annuities
Charitable Gift Annuities What is a Charitable Gift Annuity? A charitable gift annuity is a planned giving tool that allows the donor to make a gift while at the same time receiving a constant stream of
More informationRoseville Lutheran Church Annual Financial Report
Roseville Lutheran Church Annual Financial Report 2012-2013 Roseville Lutheran Church has seen significant change between July 2012 and June 2013. We have said goodbye to many staff members, and welcomed
More informationDon t let your development success become an accounting nightmare P R E S E N T E D B Y :
Don t let your development success become an accounting nightmare P R E S E N T E D B Y : Kelli Boyle, CPA kboyle@nathanwechsler.com Jeanine Tousignant jeanine@mcmusicschool.org Welcome! Topics we will
More informationCOMMUNITY OF CHRIST CANADA
FINANCIAL STATEMENTS INDEPENDENT AUDITOR'S REPORT To the Board of Directors of: Community of Christ Canada We have audited the accompanying financial statements of Community of Christ Canada, which comprise
More informationFinancial Statements of. GRAND CANYON SYNOD OF THE EVANGELICAL LUTHERAN CHURCH IN AMERICA (a non-profit religious corporation)
Financial Statements of GRAND CANYON SYNOD OF January 31, 2018 FINANCIAL STATEMENTS Year Ended January 31, 2018 TABLE OF CONTENTS Independent Auditors Report 1 Statement of Financial Position 3 Statement
More information