This month, the release of the new book Church Finance: The Church Leader’s Guide to Financial Operations gives church leaders needed information on the best ways to manage church finances and addresses how accounting principles and tax laws that apply to churches are vastly different from that of businesses.
This book helps churches:
• Adapt budgets to mission and purpose
• Reduce and manage expenses wisely
• Use key metrics for financial health that work for almost any church
• Understand and properly administer nontraditional gifts
• Understand the ins and outs of alternative revenue sources
• Properly establish compensation for your leaders and staff
• Use and manage debt, plus negotiate debt terms with a lender
• Maintain sound internal controls
• Understand the fundamentals of federal tax law for churches
• Enhance accountability
• Employ ministry-wide risk management
• Understand and evaluate insurance coverages
The author, Michael E. Batts, is a CPA and is the president and managing partner of Batts Morrison Wales & Lee (nonprofitcpa.com), a CPA firm exclusively serving churches and nonprofit organizations across the United States from multiple offices. Mike is also an editorial advisor for Church Law & Tax. In addition, he has served as chairman of the board of ECFA, an organization that accredits Christian organizations in the areas of board governance and financial integrity, and chairman of the Commission on Accountability and Policy for Religious Organizations advising U.S. Senator (and Senate Finance Committee Chairman) Charles Grassley on federal policy matters affecting religious organizations. Church Finance: The Church Leader’s Guide to Financial Operations is available on ChurchLawAndTaxStore.com.
(SOURCE: Christianity Today via Christian Newswire)