Religious Organizations

BKD Not-for-Profit & Government Group works with many different types of religious organizations, including the management and national offices of several denominations, churches and synagogues, deposit and loan funds, diocese and regional conferences, foreign missions and foundations.

Our participation in national religious councils and associations helps keep us abreast of issues and trends affecting religious organizations like yours.

Solutions like the following can help your religious organization enhance your financial management.

Financial Accountability

Sound financial management requires strategic planning to set priorities and goals, budget for fiscal discipline and prepare meaningful financial statements and reports that demonstrate accountability. BKD’s accounting expertise can provide solutions to these needs. We can help:

BKD is a trusted firm that not only advises Cook on issues we raise, but proactively advises us on changes in the financial environment.

— Scott Miller, Senior Vice President of Finance
Cook Communications Ministries
Colorado Springs, Colorado

Develop policies and procedures to demonstrate corporate responsibility and accountability
Produce meaningful financial statements and management reports
Assist with internal audits
Implement best practices resulting from Sarbanes-Oxley
Strengthen internal controls
Improve utilization and tracking of restricted resources
Develop strategies for improving profitability of various programs and cost allocation plans to measure their profitability
Analyze and forecast cash flows
Perform feasibility studies, financial projections and operational reviews
Develop budgets and business plans aligned with strategic priorities
Provide benchmarking comparison
Explore financing alternatives
Assist with lending activities

Stewardship of Gifts & Income

Contributions, tithes and offerings and investment income fund your organization’s operating budget and can bring long-term financial security to your religious organization. Effective management of these resources will build trust and accountability, demonstrate stewardship and encourage additional giving. We can help:

Manage endowment and gift assets and develop investment policies, including goals assessment and asset allocations, through BKD Wealth Advisors, LLC
Administer gifts to comply with donor restrictions
Structure a comprehensive development plan, gift acceptance policies and deferred-giving arrangements
Implement policies and procedures to protect you and your donors
Evaluate investment policies and spending rates

Tax Planning & Compliance

Even tax-exempt religious organizations and their clergy have tax issues to deal with. BKD Not-for-Profit & Government Group’s tax advisors can help protect your organization from noncompliance penalties and help your members, missionaries and donors with planning strategies aimed at reducing their tax burden. We can:

Assist with clergy and missionary tax issues
Help with obtaining and maintaining tax-exempt status
Advise and structure donor giving arrangements, including trusts and deferred-giving
Assist with donor acknowledgement statements

Technology

BKD Technologies helps religious organizations make the most of their technology investment. As licensed resellers of Microsoft Dynamic GP® and Sage Software® financial applications software, both industry specific and general business, we can help you:

Select, implement and support new systems and software
Control and track project and campaign budgets
Coordinate grant and project information
Customize fund accounting, including tracking restricted contributions
Assess your IT security risks and implement improvements
Increase operational efficiency

For More Information

Contact your BKD advisor or:

Debi Ladyman
BKD Not-for-Profit & Government Group Leader
888.476.7258