Building Financial Strength

The 2010 CLA National Conference offers insights on ministry financial management.

Christian Leadership Alliance | posted 12/04/2009

Michael Lowstetter's article explores a critical area for ministry finances: cash flow management. Christian Leadership Alliance (CLA) seeks to ensure wise financial management for Christian nonprofit ministries, and is offering numerous courses on critical issues like this one at its upcoming national conference in San Diego, April 19-21, 2010. Here are some examples:

Two all-day Intensive Training Institutes (ITIs) will focus on financial management. The first, titled Money and the Church, will explore stewardship ministry, finance office operations, legal issues, capital campaigns, creating a culture of generosity, relations with financial institutions, deferred giving strategies, and the senior pastor's role in financial matters. Faculty: Dick Towner, executive director of the Good Sense Movement; Frank Borst, executive vice president of the Evangelical Christian Credit Union; Dan Busby, president of the Evangelical Council for Financial Accountability (ECFA); Brian Kluth, founder of Maximum Generosity; Greg Ring, co-founder and CEO of Philanthrocorp; and Jim Sheppard, CEO and principal of Generis.

The second ITI is titled The Steward Leaders Game. This is a fun simulation of managing church or ministry fiscal affairs over the course of a year, and is designed to help attendees increase cash flow, strengthen balance sheets, and learn how to manage money according to mission. Faculty: Randall Dick, senior design consultant with Design Group International.

Financial management workshops at the 2010 CLA National Conference will include the following:

Managing from Income. This workshop will help ministry leaders to become more effective, accurate, and mission-centered by managing from income rather than expense. Faculty: Mark Vincent, CEO of Design Group International.

Cost Control for Health Benefits. This workshop is designed to help better control health care costs and review performance compared with peers. Faculty: Geoff Marsh, president of Marsh Consulting, and Forrest Flaniken, vice president of operations for Wycliffe Bible Translators.

Investment Strategy for Economic Recovery. This workshop will examine the economic outlook, interest rates, and current investment opportunities. It will examine the safest income ideas and the best total return ideas, and explore how to effectively evaluate current ministry portfolios and determine where and when changes are needed. Faculty: George Cook (page 4), institutional consulting director of Graystone Consulting, a division of Morgan Stanley Smith Barney, LLC, and Don Thornton, senior vice president of World Venture.

Accounting and Auditing Update. This workshop will explore developments and changes that every CFO, controller, and financial manager should know, including a to-the-minute update on regulator activities affecting nonprofits. Faculty: William Haller, managing partner with Capin and Crouse, and Stephen Kennedy, CFO of Los Angeles Mission, Inc.

12 Things to Make Your Ministry Stronger. In this session, attendees will discuss the new IRS Form 990, board governance, fundraising events, audit optimization, website structure, and more. Faculty: Dave Moja (page 30), tax director and CPA with McGladrey.

Retirement Plan Administration under New IRS Regulations. This interactive workshop will teach participants to understand Form 5500 data and how to collect them. It will examine new plan oversight, involvement rules, and the meaning of universal availability. Faculty: Bruce Bruinsma, CEO and Bethany Palmer, executive director, co-founders of Envoy Financial (page 34).

21st Century Financial Management. In this popular expert-led session, attendees will receive an overview of the latest issues affecting churches and nonprofits relating to legislation, IRS oversight, tax and legal issues, and accounting standard changes. Faculty: Dan Busby, president of ECFA, Greg Capin, partner with Capin and Crouse (page 20), and Stuart Lark, partner with Holmes Roberts.

What the Current Economy Means for You. Hear an up-to-the-minute review of the economy and its effect on nonprofits. This session with help attendees to identify the structural issues that led to the credit crunch, learn about its effect on global markets, and understand the impact of the liquidity crunch and economic downturn on portfolios. Faculty: Bryan C. Taylor (page 44), CFA and CEO of Cornerstone Management, Inc.

Best Practices in Month-End Closing and Reporting. Many ministry accountants and controllers juggle multiple priorities as well as month-end work. This session will demonstrate how to speed up the monthly closing and reporting process. Faculty: Jeffrey Roberts and Timothy Murphy, CPAs with Nonprofit Financial Solutions.

Liquidity Management Workshop. If your ministry is like many others, resources are limited—especially now. This session will offer best practices for stewarding financial resources. Faculty: Mark Jones, Senior Banking Consultant and David VanWinkle, Vice President for Ministry Development, Evangelical Christian Credit Union.

These and other courses at the upcoming CLA national conference reflect CLA's commitment to helping your ministry achieve the highest financial management standards while building long-term financial strength. Many of these faculty members are also contributors to this edition of Outcomes.