Richard is an Audit* Manager at CapinCrouse and has managed audit, review*, and compilation engagements for more than 25 years. He is a former member of the firm’s Church and Denominational Team, and helped draft the CapinCrouse Church Financial Health Index™ and CapinCrouse Church Checkup™ and related reports. Richard also provides a variety of services such as local church assessments, organizational governance, audit committee roles and responsibilities, and internal controls. He has organized and overseen many annual events in the Indianapolis office, including the firm’s church and nonprofit seminars and the hosting of church tax update events.
October 28, 2024 - If your church uses a calendar year-end of December 31 as its fiscal year-end, you may want to consider whether you would benefit from changing it. Here’s a look at the potential advantages and disadvantages.
It’s important for every church financial leader to ask these four key questions to understand the new liquidity disclosures under ASU 2016-14.
What Christian schools should consider about the additional qualitative or non-numerical disclosures required by ASU 2016-14, plus best practices for cash and liquidity management.
A look at the additional disclosures related to liquidity and availability under ASU 2016-14, and what Christian schools should consider as they plan for this significant implementation.
Further insight on ASU 2016-14 for churches, with a focus on reconciling liquidity to net assets without donor restrictions.
Even churches that don’t issue external financial statements should have a written cash management policy that could have content and attributes similar to these new qualitative disclosure requirements.
We’ve received a number of questions from church clients about the additional disclosures related to liquidity and availability. Here a look at the requirements and what your church should consider as you plan for this significant implementation.
How does your church compare with similar churches? What financial issues should you monitor, and how? This article explores a few of the measurements and ratios that will help you assess your financial health and identify areas for improvement.