The money that supports your church’s ministry comes from faithful people who give because they believe in the mission. For that reason alone, there is a responsibility to manage wisely how the funds are used. The church Budget Committee has the task of oversight. One of their primary duties is to create an annual budget.

Will churches experience a decline in giving because of the newly signed Tax Cuts and Jobs Act? Some fear that the doubling of the standard deduction will result in fewer parishioners who will itemize their deductions. Charitable donations to churches are itemized expenses.

In the world of non-profits, including churches, end of the year donations are critical to the financial well-being of the organization. Why? Many individuals and companies wait till year-end to take advantage of tax advantages. By year end they know where they stand financially, how much they can afford to donate and how a donation could actually help them save money in other areas of their finances.