May 14 2024 24 mins 4
There’s no shortage of economic indicators and reports to read, and as we near the halfway point of 2024, church leaders likely wonder where everything is heading.
Inflation persists and interest rates still hover near recent historic highs. Unemployment remains low, but new jobs reports suggest that may be changing. Many stocks have posted impressive returns while housing prices continue surging in many places.
In this episode, Erika talks about the economy with Rob Eby, a CPA from Aprio who has served churches and nonprofits for more than two decades.
The two review some high-level best practices all churches should remember, regardless of the economic outlook, including staying true to mission and budgeting. They also discuss the power of prayer, the value of reserves, and who should be tapped in a congregation should an economic crisis arise.
- “Managing Tough Financial Times,” from the editors of Church Law & Tax
Church Finance, Second Edition: The Church Leader’s Guide to Financial Operations by Michael E. Batts- “Church Loan Modifications in a Crisis,” by Vonna Laue and Michelle Sanchez
- “Q&A: Adopting a New Budget During Extraordinary Times,” by Michael E. Batts
- Download your FREE copy of The Church Attorney Legal Audit® System document checklist here, and check out Episode 29 (“Using a Legal Audit to Position Your Church for the Long Haul”) to learn about the importance of a legal audit for your church.
Questions? Comments? We welcome them! Please contact Erika Cole at erikacole.com. Erika reads each comment and may answer your question in an upcoming episode.
See all episodes of Church Law.
The Church Law podcast is part of Christianity Today’s ChurchLawAndTax.com, a not-for-profit publishing ministry.
Erika E. Cole, Esq., known as The Church Attorney®, is the creator of The Church Attorney Legal Audit® System, a proprietary legal audit process that helps church leaders be confident they are operating with integrity, and avoiding costly risks. She serves as a senior editorial advisor for Christianity Today’s ChurchLawAndTax.com.
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