In 2008 many visions and dreams will be fulfilled and there are some key success factors that should be considered by every non-profit or religious organization.
In its efforts to better serve our community and clients, Rehani Consulting will distribute several research topics in the areas of finance, marketing, consulting, and organizational strategy. Highlighted below is an excerpt of the first Topic that will be distributed via the website beginning January 2, 2008.
Non-Profit Religious Organizations:
The 10 Success Factors for Establishing Fiscal Responsibility
In the last five years, non-profit religious organizations have come under microscopic scrutiny from all levels of government and community. Public exposure of unethical practices from top level religious leaders and church organizations have compelled legislators to re-examine legislation and implement tighter constraints on religious non-profit churches/organizations. My hypothesis is that churches with congregations of more than 1,000 have established fiscal management strategies and are aware of governmental regulations regarding fiscal management.
The role of "mega-churches" in community and business is an integral part of governmental planning and funding. This is evident with the White House push to fund faith-based initiatives. Our communities also depend on "mega-churches" to provide support programming in the areas of education and economic improvement. As a result, churches are managing large amounts of money, loans, and other financial support. It is imperative that non-profit religious organizations view themselves not as self-contained entities but as global corporations.
I used the most confidential method of research, a survey, to gather information about the fiscal management practices of churches and religious organizations throughout the United States. The survey was sent to individuals known to work in a church or religious organization and have some knowledge of fiscal management. The paper is an excerpt of the complete research paper, which contains reference materials from governmental agencies, private corporations, financial institutions, the public media and religious organizations. Many non-profit religious organizations operate like global corporations, with multiple business lines and international product distribution. This research study was done to prove that their management strategies support the complexity of their operations.
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