Jan
20
2012

Finance Fridays: Cash Flow in the New Year

An article by Jeremy Moore

It’s late January, and if you’re like me, a few of your New Year’s resolutions are off to a great start while others have already fallen by the wayside. Over the last few months, it would seem that the most common New Year’s resolution from the churches that I been working with has been to improve cash flow.

At first glance this might seem like a selfish goal, but you are not improving your cash in order to get a raise, it is to do more ministry and change more lives. As I have been working with churches, here are some of the ways that I have seen churches improve their cash flow:

Review Recurring Expenses. Almost every church has a few bills that could, and should, be eliminated or reduced. Whether it’s your church insurance, internet, copier leases, or rent, reviewing and renegotiating your recurring charges is a best practice that every church needs to regularly engage in.
Make Giving Easier. This could be as easy as adding a Paypal link to your website; or more involved, like adding giving kiosks in the lobby. There are many creative ways to help your congregation take part in your vision through giving: giving through text, smart phone apps, the possibilities are endless. This is a great way to help your congregation start the journey of generosity.
Outsourcing. If you are paying a full time bookkeeper, web designer, executive assistant, or receptionist you are wasting money! These are roles that can be better filled by professionals who can do more for less. Part of what makes Church Simple unique is that they act as a concierge… connecting churches with service providers that can help a church save money through outsourcing. Check them out!
Get Creative. If you own your building, look into leasing it out to other ministries, partnering with a community organization, or check out Rent My Church… a great organization that helps churches find ministry partners.

How is YOUR church strengthening its cash flow this year?

Jeremy Moore was born in Germany to Missionary Parents and grew up in a Pastor’s home. He is married to the love of his life, Erika. He has two boys, Alexander and Benjamin. He holds a Bachelor of Arts in History with minors in Business and Theology from Lee University. He has done graduate and post graduate work at Auburn University, Northwestern University, and Colorado State University. His background as a Merrill Lynch Certified Financial Manager (CFM) and years as Senior Vice President of Commercial Banking at one of the largest Banks in the nation, have given him the base of knowledge which he uses to now exclusively serve non-profits. He specializes in short and long term asset management and acquisition planning and execution, as well as creation and implementation of ministry strategy. He uses his relationships with hundreds of ministry leaders to discover and disseminate best practices in the areas of church and non-profit growth and management.