Church Accounting Services Now Available
“Curtis and the Foundation team have made a difficult staff transition manageable. Each week, we learn new ways to simplify our processes and get the results we want. The Foundation has been a great partner.”
In a recent survey of over 1,500 domestic companies, 87% of respondents said they find it increasingly hard to secure the talent they need for general accounting, financial reporting, and financial planning and analysis. National trends in the accounting profession reflect increasing levels of retirements and a dramatic fall in college students majoring in the field.
This acute shortage of qualified professionals creates significant wage escalation in an ever-tightening labor market. Starting salaries for entry-level positions rose 13% in 2022 as compared to 4% in 2021 and 2% in 2020. More alarming is the fact that those same entry-level positions experienced an additional 21% wage escalation for the first six months of 2023.
The challenge these trends will likely create in the coming days was the driving motivation of the Foundation’s design and launch of church accounting services. Having onboarded and beta-tested several clients, the Foundation now stands ready to assist churches that desire to redirect resources to other ministry needs through outsourcing their accounting function.
Dr. Curtis Boozer joined the Foundation team in January and was tasked to design platforms and products to meet this growing need. After 25 years of industry experience in CEO/CFO roles and time as a CPA in a regional firm, Boozer spent the last fifteen years in an Executive Pastor role for two mega-churches. At his last assignment, he oversaw the administration of a $10 million budget for a church with three campuses. Through a focus on efficiency, automation, and usage of cloud-based platforms, Curtis provided all administrative and accounting functions with only one full-time employee.
The Foundation’s church accounting services encompass all repetitive bookkeeping functions, including the daily reconciliations of bank accounts, processing of payments to vendors, posting of daily deposits, reimbursements to staff and congregants, the ongoing general journal entries to the church’s general ledger, and the monthly preparation of financial statements. In delivering this service, Boozer has one objective, “I want to help the administrative and accounting process fade into the background so that church staff can focus on ministry.”
Many churches struggle with accounting. The Foundation is here to help. For most, outsourcing accounting to the Foundation can result in cost savings and allow for the redeployment of staff to other critical areas of ministry support. If you would like a free consultation to explore options and possible solutions, please don’t hesitate to contact Curtis Boozer at cboozer@sbtexasfoundation.com or 682-347-4915.
Bart McDonald | SBTF Executive Director