CPE CREDIT FOR THIS COURSE

There are three things needed in order for you to receive CPE credit for the course you are attending:

1. Sign the sign-in sheet for each course.2. Fill out the survey that is handed to you. Please don’t forget to add your name

so we know who to give the credit to.3. Check whether or not you would like to receive a PDF of your certificate at the

bottom of the survey.

Without these items we are not properly able to credit you for this course.

Glenn WoodAdministrator for Seacoast Church in Charleston, SCOversee all the glamorous parts of church

administration: legal & contracts, construction, property & casualty insurance, politics, campus upfits, and the list is almost endless!

Been on staff for 20+ yearsWork with The Church Network and connect with

administrators and Executive Pastors of larger churches

AGENDA

• Explaining financials to Board Members• Reporting ideas and options• Construction budgeting – what often gets

missed• Guns in a Non Profits Organization –• Non Profits Insurance – what are you missing?

SEACOAST CHURCH- Started in 1988- Currently have 14 campuses in both SC & NC,

opening our newest one in Conway SC at Easter

- Average weekend attendance of 15,000- Largest campus – 5,800- Smallest campus – 80

- Church administrator- Served in this position since 1995

SEACOAST SOFTWARE WE USE

- Software

- Accounting – Intacct

- Church Management – Ministry Platform

- Data Visualization – Intacct, MartusSolutions, & internal charts

- Budgeting tool – Martus Solutions

- Credit card and accounts payable processing - Nexonia

- Email & file access – Office 365

EXPLAINING FINANCIALS TO BOARD MEMBERS

• We have all been there, you get a new Board member and how do you bring them “up to speed”?

• What do they know/don’t know about your organization?

• How to educate them?

NEW BOARD MEMBERS – WHAT TO REVIEW?

• Don’t assume they know anything about your organization

• Start with the basics • For Seacoast we produce a notebook that

contains:•Bylaws•Budget•Duties•Several resource books•Minutes from last 4 meetings•How we operate & why (the why is often more important than the how)

DIFFERENCES BETWEEN FOR PROFIT AND NFP

• While we assume they know we have to discuss how FP & NFP are different from a financials standpoint

• Fund accounting vs Profit & Loss statements• What to look for on the Balance Sheet• Unique rules that apply to your NFP they may

not be familiar with

RESOURCES

RESOURCES – WWW.ECFA.ORG

REPORTING THAT MATTERS

WHAT DOES SEACOAST REPORT?

Financial numbersWe track financials by campus and roll into a single P&L

at month endTrack on a detail level but generally report on a summary

level

Non financial numbersAverage weekend attendanceAverage adult weekend attendanceAverage giving per person - annual basisNumber of baptisms by campusNumber of first time giversAbove average donationsNumber of attenders engaged in a small group

HOW ARE THEY REPORTED?

• INTACCT DASHBOARDS & REPORTS• MARTUS DASHBOARDS• EXCEL CHARTS

WHEN ARE THEY REPORTED?

• EXECUTIVE TEAM MEETINGS

• STAFF MEETINGS

• BOARD OF TRUSTEE MEETINGS

• WEBSITE & PUBLICATIONS

INTACCT DASHBOARDS -

MARTUS SOLUTIONSWWW.MARTUSSOLUTIONS.COM

• Seacoast utilizes the Martus Solutions dashboard for our campuses to manage their financial data

• Uses API to link to Intacct data

• Prebuilt graphs – less work to setup for our acct staff

• Great budgeting tools

• Lower cost than Intacct licenses

• Martus can connect to other financial systems

MEASURING WHAT MATTERS

WHAT ARE THE “RIGHT” THINGS TO MEASURE?

They are organization specific –• What is right for our church may not be relevant

for you• Items have to be actionable• Have to be real• The numbers have to be based on something

we can consistently measure with reasonable certainty they are the same

WHAT IS “IT” FOR YOUR ORGANIZATION?

• Number of missions trips?• Feeding “x” number of people in a

day/week/month/season• Passing out “y” number of book bags prior to

the new school year• Increase number of first time givers by “x”

percent• Number of households impacted? • Youth signed up for summer sports programs?

THOUGHTS ON REPORT DESIGN

They need to be geared to the audienceHow I show my Senior Pastor financial information

is MUCH different than what I show our TrusteesSP – more graphs and very few numbersTrustees – more numbers

THOUGHTS ON REPORT DESIGN

Is this going to be “reused” regularly or a one time presentation?

• If “reused” then more time will be put into the design

• If “one time” it may be unpolished

ADDITIONAL THOUGHTS FOR CONSIDERATION

What type of graphic will best display the information?What colors should be used? Try and limit the amount of text, let the graphics “tell the

story”Do you need to have a trend line for showing the information

over time?Do you really need to have “all the figures” on the chart? Would a simple “thumbs up/down” graphic work?

DASHBOARDS CAN BE CREATED WITH EXCEL

• You can create a dynamic dashboard where as information is updated in one table the results will drive charts, graphs, and other indicators on linked pages

• That is what Seacoast uses to drive our attendance and tithe charts for our campuses. Takes me about 10 minutes to generate the charts for a month

• There are online courses that will teach you how to create and setup

SEACOAST MONTHLY CAMPUS CHARTS

Annual campus reports

• These are used to provide an overview of the campuses tithe and attendance

• Driven from the same data as the monthly campus charts

• Generally used by our Board of Trustees as an overview of the campuses

DASHBOARDS - SUMMARY

• They are helpful to “tell your story” quickly • They have to be tailored to the audience• What you measure has to be tailored to your

organization• Should be a combination of financial and non-

financial numbers• The measurements have to be actionable• The numbers have to be “real”• Less words, more graphs – great for “non-

financial” staff

CONSTRUCTION PROJECTS FOR NON PROFITS

• Construction in NFP organizations are often lead by someone without construction experience

• What can get missed in the budgets?• Some thoughts to ensure projects come in on

time and budget

EXPERTISE?

• Often people in NFP organizations are asked to lead construction projects that don’t have the expertise to do the job adequately

• Find key volunteers that have expertise in the area and bring them onto the team

• Seek out vendors that are connected through your organization to help with the project

BUDGETS – SOME ITEMS THAT GET MISSED

• FF&E items –• IT equipment & cabling•Security systems – electronic locks including programming and software

•Cleaning/facility equipment•Trash cans •Performance Bonds •Builders Risk Insurance•Additional staffing •Software upgrades•Furniture & artwork•Directional signage

ON TIME AND ON BUDGET

• Someone has to be in charge• Someone has to have the ability to hold

Contractors accountable (and in a church that isn’t the SP!)

• Have a realistic schedule that everyone buys into PRIOR to the start

• Know that the budget is and who is accountable for each area

• Ensure the contractor reviews the construction schedule regularly with the organization. Schedule “creep” is common but if no one holds the contractor accountable you will miss your target

GUNS IN YOUR ORGANIZATION

• Back in the news and needs to be discussed at your organization

• Need to get input from your legal counsel, insurance company, NFP governing board, and local law enforcement

• Not weighing in on whether it is good or bad today but a decision you need to have

GUNS IN YOUR ORGANIZATION

Questions to ask:•Do we want our staff to carry a concealed firearm?

•What does our insurance company have to say?

•What does our insurance policy allow?•What is required by your state?•Are you banning guns in your facilities? If so, what are the reporting requirements in your state? Who has to enforce it?

•Do you have an emergency plan? Has it been tested?

NFP INSURANCE – WHAT ARE YOU MISSING?

• Insurance coverage is becoming a moving target

• How often do you review your coverage in detail?

• Who do you trust to advise you in making changes?

• Do you have the proper coverage?

• What is “enough” insurance?

G LENN WOODS E AC O A ST C H U R C HE M A I L : G L E N N W O O D @ S E A C O A S T . O R GC E L L : 8 4 3 - 2 9 7 - 0 2 6 7

FAITH BASED FINANCE COLLABORATIVE 2018

THANK YOU!