The Church Planter's Guide to Finance Course

In this first video, we introduce you to the Church Plant Finance Course. This is a course designed to support church planters in understanding and managing church finances effectively. It emphasizes the importance of financial stewardship and administration for the long-term health of a church, providing a structured approach to learning through an e-book, video lessons, summaries, and recommended resources.

This lesson provides a guide for church planters on the essential financial and administrative steps required to establish a church. It emphasizes the importance of legal entity setup, the process of registration with state and federal authorities, and the significance of obtaining tax exemptions. The discussion also covers best practices for navigating these processes effectively.

This lesson focuses on the critical role of bylaws in establishing and governing a church. It outlines the process of creating bylaws, emphasizing the importance of clarity, legal requirements, and conflict resolution. Chris provides practical steps for drafting bylaws, including gathering samples, internal reviews, and seeking external feedback. The lesson also highlights best practices for ensuring bylaws are effective and adaptable for future leadership.

In this lesson, Josh Reeves discusses the essential steps for setting up a bank account for a church plant. He emphasizes the importance of choosing the right bank, understanding the necessary documentation, and ensuring accountability and transparency in financial management. Best practices for maintaining financial integrity and donor confidence are also highlighted.

In this lesson, we discuss selecting and implementing an online giving platform. This service enables your members and supporters to make financial contributions to the church through your website or mobile app, using a credit card, debit card, or bank transfer (ACH). Once you've completed the first three steps (entity, bylaws, and bank account), you have everything you need to set this up.

In this lesson, we discuss the administrative process of tracking every donation, linking it to the correct donor, and generating official year-end giving statements. This involves not only tracking online gifts but also manually entering offline gifts (cash and checks). The key is to have a single, unified system that houses all giving records for your church.

This lesson focuses on the complexities of minister tax compliance and compensation within church finance. It highlights the unique tax status of ministers, the importance of legal compliance, and best practices for setting fair compensation. The discussion also emphasizes the need for proper planning regarding Social Security and Medicare taxes, as well as the benefits of a housing allowance for ministers. Resources for further understanding minister tax and compensation are also provided.

This lesson focuses on the essential steps and best practices for setting up a payroll system in a church context. It emphasizes the importance of legal compliance, employee care, and the benefits of outsourcing payroll management. The discussion includes practical steps for establishing payroll, understanding tax obligations, and maintaining records, as well as navigating the complexities of employee versus contractor classifications.

This discussion builds on lesson 6 as our team delves into the complexities of minister pay and tax, particularly focusing on the dual tax status of ministers, the importance of understanding self-employment tax, and the critical role of housing allowance. ChurchBiz Tax expert Kevin Aderholt offers insights on how church planters can navigate these challenges effectively, emphasizing the importance of sound financial planning and compliance with IRS regulations.

This lesson focuses on the essential aspects of budgeting for church planting, emphasizing that a budget is not merely a financial tool but a theological document that reflects the church's mission and values. It outlines the steps to create an effective budget, including defining the church's mission, gathering input from leaders, estimating income and expenses, and the importance of contingency funds.

In this lesson, we talk through the expense tracking process. Expense tracking is the careful recording and categorizing of every single financial expenditure the church makes. The goal is to ensure that every expense is accounted for and coded to the correct line item in your budget. This practice enables you to track your expenses in real-time and make informed financial decisions.

In this lesson, Chris discusses the importance of understanding financial reports for churches, with a specific focus on the profit and loss statement and the balance sheet. He emphasizes the need for church leaders to regularly review these reports to make informed financial decisions, ensure accountability, and maintain good governance.

In the final lesson of the Church Plant Finance Course, Josh Reeves highlights the importance of stewardship and teaching about giving within church planting. The lesson emphasizes the importance of teaching about giving, how giving should be integrated into worship, and the significance of cultivating a culture of generosity. We close by urging leaders to model generosity and celebrate how giving advances the church's mission.

In this conversation, Chris and Kevin discuss the importance of understanding financial statements for church planners, emphasizing the need for simplicity in financial reporting. They explore the significance of budgeting, the management of restricted funds, and the strategic use of financial reports for forecasting and decision-making.