I’m going to give you this really simple – well kinda simple checklist to get your 501c3. It’s not all inclusive, but its here just to give you an overview of the process assuming you’re starting from scratch. 1. Get Incorporated – Visit the Secretary of State (SOS) website for your state to incorporate your [...]
2011 Ministers and Missions Conference
March 26, 2011 By 4 Comments
Were you at the conference? I had an awesome time at the M&M conference! hosted at Living Word Christian Center. On Friday, I was privileged to speak to Pastors and ministry leaders in one dynamic session. And later to church bookkeepers and finance administrators. Each session was packed with information. The session for Pastors was [...]
Can We Refinance Our Car Loan?
September 14, 2010 By Leave a Comment
How much ministerial debt is too much debt?
July 10, 2010 By Leave a Comment
Lenders use a formula called the Debt Coverage Ratio to determine whether a ministry’s debt is reasonable or too high. The Debt Coverage Ratio compares the borrower’s annual net income (excluding mortgage interest and depreciation) to the annual debt payments. Basically, lenders like to see the ministry’s annual net income be anywhere from 10% to [...]
