In our litigious society, it seems like people file lawsuits for just about anything, but since when did copyrights and licenses become so sensitive? The old days are gone; the truth is, operating a Church becomes more and more complex every day. So what are a few things an administrator can do to protect their […]
As a nation, uncontrolled spending at the personal level has led us into financial crisis in the past several years. Churches are not immune to detrimental attitudes and practices of the nation. Additionally, churches are particularly vulnerable to potential fraudsters. In his book, Weeds in the Garden, Verne Hargrave discusses the church’s finances, its attitude […]
That’s right! Even though churches normally do not have to file a tax return (most nonprofits have to file an informational return annually – IRS form 990), there is certain information that you must collect and provide to the IRS. And I’m not talking about payroll tax information – 941 and W-2 forms. If you […]
In Chapter six of the book Weeds in the Garden, by Verne Hargrave, he discusses the use and abuse of financial statements. Specifically he discusses how the financial statements can often be produced to “look” a certain way either to improve revenues or reallocate expenses. “…The church should follow a budget. Every church needs to […]
I have a friend who has reminded me to be thankful for annoying things such as the red light I am stopped at, because I am privileged enough to live in a country that has roads, and orderly ones at that. This same attitude can be applied to taxes—thankfulness for them and for the ability […]
In the grand scheme of things – yes, it’s small change, but petty cash accounts are easy to mishandle and manipulate without proper oversight and controls. What controls are currently in place and are they followed? This is the primary focus of an internal audit of the petty cash funds. Review the written policies governing […]
How does one get away with stealing $1.5 million? This Organization’s Financial Officer stole over a period of seven years. Obviously, adequate controls were lacking at some level in this organization. Read the full story here. Is your church or non-profit in need of a check up on internal controls? Let us help you evaluate […]