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AcctTwo Blog

8 Ways to Utilize Technology to Be a Good Steward of Church Finance

People of faith believe in the importance of stewardship. The word steward refers to a person who manages—but does not own—a household. In ancient times, a good steward was trustworthy and accountable for everything from a household’s finances and property to its reputation. Today, we see it as taking good care of the things that God entrusts to us.

Often, there is a church finances committee, council, or board of trustees. To fully engage all these stakeholders and religious donors, faith-based nonprofits are under increasing pressure to demonstrate the impact of tithes, offerings, bequests and endowments on the dual missions of helping people and supporting the congregation. Precise accounting and complete, transparent reporting of church finance are the hallmarks of stewardship.

Topics: church accounting KPI Not-for-Profit and Faith-Based

Using Outcome Metrics to Measure Nonprofit Impact

After six blog posts going in-depth on the subject of using outcome metrics to measure nonprofit impact - why they’re important, why they’re elusive, what metrics they involve, and what it takes to track them - we hope that two things are clear:

  • Nonprofits need to monitor their finances and program performance carefully, and then report on the outcomes extensively. Building trust with funders – donors, granters, members etc. – depends on being a transparent and accountable organization that turns investment into impact.
  • Tracking outcome metrics takes data from all parts of the nonprofit integrated together and analyzed to understand how inputs (money, time, staff) translate into outputs (meals served, classes offered, members gained etc.).
Topics: church accounting KPI General Not-for-Profit and Faith-Based

Putting Outcome Metrics Into Action With Nonprofit Dashboards

Nonprofit outcomes. That’s the subject of this ongoing blog series highlighting why (and how) organizations must prove their mission is working to keep funding streams flowing.

Nonprofit dashboards are the final component of any effort to track outcomes. After identifying what KPIs to track, and how, nonprofit dashboards offer a means to put those outcome metrics to work on behalf of the mission; where the rubber meets the road.

 

Topics: church accounting KPI General Not-for-Profit and Faith-Based

Measuring Impact With Nonprofit Dashboard Indicators

In our previous blog article from AcctTwo’s series about tracking nonprofit outcomes, we highlighted some of the metrics that nonprofits can define their success with. You can use these indicators to assess whether the nonprofit is on the right track, and prove your positive results to donors and grant managers who want to invest in effective nonprofits only.

Knowing what to track is an important start, but the hard part comes next: figuring out how. Nonprofits are in the dark about outcomes because the necessary data is hard to capture, categorize, and quantify in a meaningful sense without the right nonprofit dashboard indicators.

Topics: church accounting KPI General Not-for-Profit and Faith-Based

How to Use a Nonprofit KPI Dashboard To Measure Your Success

Halfway through our six-part blog series on nonprofit outcomes, we have explored why outcomes are so important (funders insist on seeing results) and why they’re so obscure (lack of good data). In this article, we’ll address the most important subject of all: The metrics for your nonprofit KPI dashboard you can use to measure your own success in terms of outputs and outcomes.

The good news is that these metrics exist, and when tracked correctly, they put success in the clear, quantifiable terms that funders insist upon. The bad news is that defining success isn’t simple, and tracking it isn’t either. Think of your own organization: Are you certain you’re fulfilling the core mission and values, and if so, to what extent?

Topics: church accounting KPI General Not-for-Profit and Faith-Based

Are You Overlooking Under-Performance in Your KPIs for Nonprofits?

This is the second blog in our series exploring outcome KPIs for nonprofits. In our previous article, we wrote about how today’s nonprofits need to track the outputs and outcomes of their efforts – the actual impact of their mission in action. Why? To build and maintain the confidence of funding sources that expect transparency and accountability like never before.

Before we address how to measure and track nonprofit outcomes in later posts, we need to debunk a common myth: That most nonprofits understand their performance already. Rather, most organizations make some attempt to understand it but come up shorter than they realize.

Topics: church accounting KPI church ministry General Not-for-Profit and Faith-Based

A New Standard: Tracking Outputs and Nonprofit Outcomes

The status quo is changing in the nonprofit world, and the pandemic only picked up the pace. Every nonprofit, regardless of size, location, or mission, needs to be prepared for a future that looks drastically different than the past – and right now is the inflection point.

This is the first in a six-part blog series from AcctTwo exploring how and why nonprofits are evolving and why reporting your nonprofit outcomes will be necessary to remain relevant. Our partnerships with diverse nonprofits and deep experience within the industry has made us aware of an emerging trend that we believe needs attention, followed by planning and preparation. This blog series is intended to be a call to action.

Topics: church accounting KPI church ministry General Not-for-Profit and Faith-Based

Faith-Based Finance Collaborative 2021 Recap

Last week marked our 6th annual Faith-Based Finance Collaborative. This year due to COVID-19, we went virtual with a record number of registrations! We are blessed with so many amazing clients and partners.

Topics: church accounting church ministry Church Accounting Basics Sage Intacct Church Accounting Software Not-for-Profit and Faith-Based

AcctTwo’s Church Finances Leader Allison Webb Guests on Ministry Architects’ Webinar

AcctTwo’s Head of Nonprofit, Allison Webb, was the latest guest on Ministry Architects’ webinar: “How to Be More Confident in Your Church Finances for 2021”. Allison and Jeff Dunn-Rankin, Ministry Architects’ Executive Vice President, talked about how to make fiscally wise decisions for your church finance digital transformation in 2021.

Topics: church accounting church ministry ministry Digital Transformation Not-for-Profit and Faith-Based

AcctTwo’s Church and Christian Accounting Software Leader: CFO Podcast

AcctTwo’s Head of Nonprofit, Allison Webb, is the latest guest on the Christian Nonprofit CFO’s podcast, hosted by David Beroth.

David’s podcast focuses on enhancing the stewardship of church finances with increased CFO insight and expanding ministry impact. Church financial software for financial leaders in ministry are often ill-equipped to address, let alone overcome, the many challenges they face. Too often they pivot from crisis to crisis. In this mode they run on the tactical treadmill instead of proactively contributing strategic value to their nonprofits. Unfortunately, the full impact of their ministry suffers without the right Christian accounting software. Proverbs 19:20: “Listen to advice and accept instruction, that you may gain wisdom in the future.”

Topics: church accounting church ministry Sage Intacct Church Accounting Software Not-for-Profit and Faith-Based