COVID-19 Financial Guidance
NYAC Finance and Administration: Your Church Partner for Economic Understanding, Development and Viability
It will inevitably take time to assess the financial impact that COVID-19 has on the financial well-being and long term viability of New York Annual Conference local churches and ministries. Please know, however, that in spite of this uncertain atmosphere, the NYAC finance and administration staff are all working diligently to assess, address and manage the impact of the Pandemic.
Like all NYAC ministries, we are regularly tracking reliable sources for news and updates about the impact of COVID-19 in order to better tailor answers the many questions local churches have. Please click here to visit our general page containing other "Critical Information, Resources, Tools and Tips on COVID-19.”
The resources noted on this page will continue to grow as we uncover additional ways to help church leaders understand matters ranging from:
Recently passed legislation (the Family First Coronavirus Response Act (FFCRA) and Coronavirus Aid
Relief, and Economic Security (CARES Act)
Employee-focused issues and more
Meetings and Seminars
Church Finance Web Seminar (May 7, 2020)
Is your church struggling to handle its finances during this COVID-19 crisis? We want to help. Ross Williams, New York
Annual Conference CEO and Director of Administrative Services, recently held a webinar for church Finance Chairs, Treasurers and Pastors. You can watch the video below.
Staying Afloat: Completing the Paycheck Protection Program (PPP) Loan Forgiveness Application
The Small Business Administration (SBA) will host its fourth webinar, in its Staying Afloat series: Completing the Paycheck Protection Program (PPP) Loan Forgiveness Application on Thursday, May 21 at 1pm EDT.
Go here to register and for more information.
Vanco, a UMC partner, currently serves approximately 25,000 churches and faith-based organizations. They are the nation’s largest on-line giving provider in the faith-based community. Vanco does not work in a contracted manner so churches are under no long-term obligation and will not incur a cancellation fee should they choose to terminate services.
Within the faith-based industry, roughly 60+% of all donations are received through ACH (checking or savings account withdrawals) with the remainder being received through credit/debit cards. Because of the variance in processing fees for these two options, churches can expect a cost rate of about 2.0-2.2%. These costs can be further reduced through the use of an offset on credit/debit donations allowing donors to cover the costs of the transactions.
Go here to learn more about Vanco. You can also email Peter Johnson or call him at or 952-352-8136.
There are many other ways to help your church set up on-line giving; do your research. Below are resources to get you started:
How to Use the New York Annual Conference Online Giving Platform.
We shared information on how to establish online giving programs, but we know that it takes time and effort to set up. So, we are offering churches the ability to use OUR online giving platform for those that have not already created one.
- Electronic Giving Increases Offerings.
This piece from United Methodist Communications outlines seven reasons why your church should offer online giving options.
- Online Giving Options.
There are many ways to help your church set up online giving. Do your research about which will work best for your setting. Some additional options of varying scope and price structure are:
Tithe.ly Pushpay Continue to Give Easy Tithe Kindrid Secure give
- A Guide to Understanding eGiving
UMC agencies offer resources to local churches and church leadership on a range of issues, including giving at the local church level during these times of quarantine and confinement:
- Non-Traditional Revenue ToolKit - Think Beyond the Offering Plate
- Coronavirus Aid, Relief, and Economic Security (CARES) Act
- PAYCHECK PROTECTION PROGRAM GUIDANCE FROM GCFA & WESPATH
- Paycheck Protection Program Information from LBMC
- Information for Churches that Did Not Receive a Loan Through PPP