Brook Maturo on Mission Minded Money Management
How can churches and nonprofit organizations make the most of their resources while living in faith?
Brook Maturo, executive director of The Admin Hub, is our guest as we discuss Missions Minded Money Management. Drawing from her extensive experience serving churches and nonprofits, Brook explains approaches churches can take to manage finances creatively, transparently and flexibly. Our conversation includes:
An overview of Ministry Pacific and The Admin Hub
Ministry Pacific is a property and liability insurance broker exclusively serving churches, ministries and nonprofit organizations. Brook Maturo is the founder and executive director of The Admin Hub, which was started in 2009 to provide administrative support and expertise to ministries, especially smaller ones that can't afford a full-time executive pastor or CFO.
Challenges Ministries Face with Finances
Money management is inevitably stressful for ministries, especially new ones that are stretched thin. They often lack the information and resources to make critical financial decisions. Many rely on volunteers or spouses who are willing but often lack the proper support and expertise to do a good job with finances. Ministries need help navigating issues such as donor systems, budgeting, cash flow, and finding the right financial model to be sustainable.
Telling a Financial Story
Rather than just presenting numbers, ministries should use their financial reports to tell a story about the health and priorities of the organization. This involves looking at patterns and trends in the data, not just a balanced budget. Organizations need to help members understanding what the numbers say about things like cash reserves, debt, and alignment with the ministry's vision. Brook recommends integrating financial updates with stories about ministry impact because it helps engage people and show how their giving is making a difference.
The Ministry of Church Finances
Financial roles, whether staff or volunteer, can feel unrewarding because people only notice when something goes wrong. It's important to create a culture of appreciation, transparency, and empowerment. This means valuing the administrative team, listening to their insights, and providing training.
Principles for Healthy Church Finances
These start with keeping it simple by avoiding overly complex financial reports and systems. It means developing concise, easy-to-understand summaries. It also means:
Involving multiple people – both staff and volunteers.
Having checks and balances, with more than one person overseeing finances, in order to prevent misconduct of even allegations of wrongdoing.
Telling a story: Attach narratives to the numbers to help people understand the context and significance.
Common Pitfalls to Avoid
Avoid isolation and secrecy around finances, such as when only one person has full access and knowledge. Avoid unnecessary complexity in financial systems and processes that become unwieldy.
Characteristics of a Healthy Church Financial System
Organizations need to dedicate the appropriate level of attention to finances. Money should support the mission, not dominate it. Other must-haves include:
Broad accountability and transparency.
Multiple people involved, with clear processes and documentation.
Simplicity and manageability.Systems and procedures that are doable for the ministry's size and staff.
Inspiring Examples of Financial Transformation
Brook shares highlights from her work, including a pastor who left a traditional church role to start his own ministry, using creative funding and an independent 501(c)(3) structure. She also discusses a construction ministry in Haiti that empowered local Haitian staff to handle their own bookkeeping and accounting. In addition, a cafe ministry that employed at-risk youth, paid off their building and expanded their impact through careful financial management.
