10 Truths About Church Finance
- gcfaumc
- Sep 3, 2024
- 3 min read
Smart Financial Stewardship: Keys for Ministry Success
Church financial management can make or break a ministry, but with the right approach, it can help your church thrive. The finance experts at UMC Support have curated essential tips to help your church achieve effective financial stewardship. Let’s dive in!
Ask and You Shall Receive When it comes to fueling funding your church, don’t be afraid to ask! Organized giving campaigns that clearly communicate how funds will be used can be powerful tools if you’re direct about your needs and goals. To make it easy for people to contribute, offer a variety of giving options. In addition to the traditional offering plate, consider implementing e-giving, text-to-give, and estate planning as ways for members to support your church.
Be Transparent The key to generous giving is trust. The more open you are about your ministry’s finances, the more trust you build, which consequently boosts your members’ confidence in giving. We recommend regular financial updates and reports to provide your members with a comprehensive view of your church’s financial health. Remember, people are more likely to give when they see the impact of their contributions. Share stories of how your church is making a difference, and you’ll motivate even more people to give.
Boost Integrity Internal controls are essential for ensuring that church funds are handled and managed appropriately, from the collection plate to every subsequent stage of the process. These controls are crucial for protecting your ministry’s resources from potential misuse. For more information, check out our Good Internal Controls resource. Additionally, annual audits are vital—not just as a formality, but as a way to A) boost integrity by holding staff accountable and B) build trust with your members and donors. These regular audits demonstrate to your members and donors that your church is managing its finances responsibly, building trust and encouraging support.
Let Ministry Lead, Not the Budget Your ministry’s mission should drive your budget—not the other way around. Focus on your ministry goals first, and use the budget as a tool to help you achieve those goals, rather than a constraint that limits your vision. It’s important to find the right balance between saving for the future and using funds for current ministry needs. While living offering-to-offering isn’t sustainable, hoarding resources can prevent your church from fulfilling its mission. Strive for a balance that supports both present and future needs.
Dream Big, Plan Wisely God’s plans are always bigger than our own. Encourage your congregation to dream big for the Kingdom of God. As Ephesians 3:20 reminds us, God can accomplish more than we can ask or imagine, so don’t be afraid to dream big for your church’s future; however, practical planning is equally crucial. Take the time to develop a solid plan to bring those dreams to life. Ensure your church is prepared to achieve its vision by carefully considering the resources and steps needed for success.
Implementing changes to church finances can be complicated, but you don’t have to go it alone—UMC Support is here to assist you along the way. To help ministries like yours be good stewards of the finances God provides, we offer affordable financial services, including Financial Assessments and Analysis, Payroll Solutions, Corporate Credit Card Programs, and more.
For more information, contact us at ConnectionalRelations@gcfa.org or 615.369.2395. Let’s work together to ensure your ministry’s financial foundation is sustainable and your future is secure.
Learn 10 truths that you will help create healthy church financial practices. These practices will help create legacy donors and give you examples why to be fully transparent with your congregation.