Transparency Equals Longevity
Four Steps to Earning Long-Term Financial Trust
We know you are making every dollar given to your church stretch to reach as many people as possible, but does your church know this? We no longer live in a day and age where people donate and assume the best. You need transparency if you want longevity with giving. Your church members want to know where their money is going. So how do you build trust with those giving to your ministry so you can earn their long-term trust?
Budget
Can you imagine taking a cross-country road trip with a broken fuel gauge? You would never know how far you can go before you end up stranded on the side of the road. It is the same with your ministry. Your budget lets you know how far your vision can go before it needs to be “refueled.” Your budget is the first step of financial transparency. A well-planned budget is foundational for everything else you do to achieve financial accountability.
Keep Records
Do not toss out the receipt or put off entering in your expenses. Keep good records is the only way you can make sure you stay on track with your budget. Most financial goals fail, not because of not enough income but because of spending. One way to make sure you are not outspending your budget is to update your balance regularly. Did you know when you use Deka as your giving solution, we automatically track each person’s financial gifts to your church? This makes it easier for you to track and to keep them informed as well.
Audit
If you have done the first two steps well, then this one will be so much easier. Having outside eyes on your finances brings increased trust with givers. An audit can seem like a painful thing, but in fact, it is something that generates future income because it lets your church members know where their money is going. Deka can help make your next audit much easier through our portfolio of financial tools. Click here to learn more about our digital giving solution.
Report
You are required by law to give a yearly report of financial support to those who donate to your ministry. Deka makes this easy by creating automatic reporting sent to each person who gives to your church each year. We take care of the reporting to focus on the ministry that your givers are supporting. We also think it is good to send out a letter each year reporting how donations to the church have been used to minister to church members and your community.
Financial transparency equals longevity when it comes to building trust with givers. If you have questions about how your church can do a better job in one of these four steps, then we’d like to help. Click here to schedule a free personal coaching session with one of our knowledgeable team members.
