On 5/16 Thousands of Non-Profits Will Lose Their 501c3 Status

That's right, many organizations will get their 501c3 status revoked by the IRS with an effective date of 5/16. Why? Because of they did not file a 990 return for three years straight. Let's face it. Whether you put your 501c3 package together on your own, or worked with a professional, there was quite a…

Continue Reading →

5 Steps to Get Your 501c3

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…

Continue Reading →

2011 Ministers and Missions Conference

Ministers and Missions

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…

Continue Reading →

Can We Refinance Our Car Loan?

When buying a new car, we get so excited about selecting the right car and getting a loan based on the monthly payment we can afford.  We may ponder on the how long its going to take to pay it off, glance at the interest rate and move on.  As long as the payments are…

Continue Reading →

How much ministerial debt is too much debt?

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…

Continue Reading →