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Listen "CFTROU 0081: The Business on Church Business: Be Prepared to Manage Risk"
Episode Synopsis
CFTROU 0081: The Business on Church Business: Be Prepared to Manage Risk
Most everything in life involves some element of risk. Risk is an inevitable consequence of running a church. For example, there is the risk of someone getting physically injured, while participating in an activity that is hosted by your church. The bigger your congregation and the more activities and ministries you have, the greater your exposure to risk will be. Our Family Church Business Administrator and CFO, Scott Crawford, educates us on taking calculated risks. This process includes performing a risk assessment, determining your risk tolerance, and creating a plan to mitigate risk. We discuss when it makes sense to take a risk and what to do when something goes wrong. We also talk about the role insurance plays in the comprehensive plan a church should create that balances risk and cost.
Key Points:
The different types of risk involved with running a church.
How intentionality as the forefront when it comes to risk management.
What calculated risk looks like.
Aspects to consider when assessing risk and who should perform it.
What risk tolerance is and how to determine this at your church.
The role an attorney and insurance agent can play in reducing risk.
Examples of how internal controls mitigate risk when handling church finances.
The importance of oversight in finances and why multiple people should be included.
What to consider when figuring out how much insurance you need.
Life with no risk is no fun.Click To TweetEverything you do in life includes some element of risk. There is no way to avoid that.Click To TweetWe encourage that you insure as much as you can afford. Click To Tweet
Links Mentioned in Today’s Episode:
George Patton
Brotherhood Mutual
GuideOne
Church Law & Tax
Scott Crawford on Twitter
Leslee Bennett on Twitter
Jimmy on Twitter
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If you like us, rate us or leave a comment below.
Hopefully, this episode has given you principles, strategies, and ideas that you can implement right now with the resources you have. If so, can you let others know?
The best way to do that is to rate the podcast on iTunes or Stitcher and leave us a brief positive review!
This will help us place the podcast in front of more pastors and ministry leaders. It also lets us learn from you. Thank you for taking the time to get the word out about Church for the Rest of Us.
Most everything in life involves some element of risk. Risk is an inevitable consequence of running a church. For example, there is the risk of someone getting physically injured, while participating in an activity that is hosted by your church. The bigger your congregation and the more activities and ministries you have, the greater your exposure to risk will be. Our Family Church Business Administrator and CFO, Scott Crawford, educates us on taking calculated risks. This process includes performing a risk assessment, determining your risk tolerance, and creating a plan to mitigate risk. We discuss when it makes sense to take a risk and what to do when something goes wrong. We also talk about the role insurance plays in the comprehensive plan a church should create that balances risk and cost.
Key Points:
The different types of risk involved with running a church.
How intentionality as the forefront when it comes to risk management.
What calculated risk looks like.
Aspects to consider when assessing risk and who should perform it.
What risk tolerance is and how to determine this at your church.
The role an attorney and insurance agent can play in reducing risk.
Examples of how internal controls mitigate risk when handling church finances.
The importance of oversight in finances and why multiple people should be included.
What to consider when figuring out how much insurance you need.
Life with no risk is no fun.Click To TweetEverything you do in life includes some element of risk. There is no way to avoid that.Click To TweetWe encourage that you insure as much as you can afford. Click To Tweet
Links Mentioned in Today’s Episode:
George Patton
Brotherhood Mutual
GuideOne
Church Law & Tax
Scott Crawford on Twitter
Leslee Bennett on Twitter
Jimmy on Twitter
Get podcast updates delivered to your inbox.
Subscribe for free and never miss out on an episode of Church for the Rest of Us.
Subscribe via
iTunes
Google Play
Stitcher
RSS
If you like us, rate us or leave a comment below.
Hopefully, this episode has given you principles, strategies, and ideas that you can implement right now with the resources you have. If so, can you let others know?
The best way to do that is to rate the podcast on iTunes or Stitcher and leave us a brief positive review!
This will help us place the podcast in front of more pastors and ministry leaders. It also lets us learn from you. Thank you for taking the time to get the word out about Church for the Rest of Us.
In God we trust