Episode 6

Making Specific Project Finances Work for Charities and Churches

In Episode 6 of this season on ‘Making Things Happen: Churches, Charities and Money’, Simon and Bex discuss how charities and churches can make finances work for specific projects.

Some key points of interest covered in this episode include the following:

  • Simon starts off the discussion by mentioning a number of different types of projects – including special events, new initiatives and building projects – that can require a specific financial response from a church or charity. [01:49]
  • In response to a question from Bex, Simon suggests that the first priority should be to establish the timescale of the project as that will determine how best to manage and schedule the communication and financial elements of the venture. Simon notes that it is important to keep the timescale under review and to be willing to make adjustments to it under certain circumstances. [05:23]
  • Simon identifies the cost of a project as being another important priority when undertaking a special project. He explains that it is important to undertake a ‘scaling’ process to establish the implications for a charity or church of taking on this new commitment, especially if the target amount is equivalent to a high proportion of the expected annual income. [09:33]
  • When asked about how best to predict and control project expenditure, Simon highlights the following points: include some contingency costs in the budget; if possible, increase financial commitments gradually; be realistic and pragmatic when communicating to donors and supporters about money matters. [12:05]
  • Simon outlines some people-related considerations that need to be taken into account when planning a project. [13:48]
  • Simon explains the issues that can arise from donations that fall into the category of ‘restricted giving’ (ie gifts that have been targeted at a specific outcome or purpose). [16:34] Clear communication is the best way for a charity to avoid unwelcome outcomes in this context while for donors, the answer is to state that their gifts can be used for general purposes / in any way that the charity feels is appropriate. [21:03]
  • Simon concludes by referring listeners to Season 5 of this podcast for further content on the topic of ‘Giving’ and also encourages those working in charities to be encouraged and to keep making a difference. [22:38]
  • The next episode in this season will focus on approaches that charities and churches can take to dealing with staffing and other business factors. [23:46]

Suggestions or feedback arising from this episode can be sent via email to whereyourtreasureis@freerangepodcasting.co.uk while messages via Instagram should be directed to @whereyourtreasureispodcast.

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About the Podcast

Show artwork for 'Where Your Treasure Is...': The Podcast where Faith and Finance Meet
'Where Your Treasure Is...': The Podcast where Faith and Finance Meet
Conversations about faith and finance with Chartered Financial Planner of the Year, Simon Glazier

About your hosts

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Simon Glazier

Simon is a forty(something), average height, mostly bald, Christian, husband, father of three, bad taste in fashion, movie-loving, not-very-musical-but-likes-to-sing, outdoor type, board-game playing, dancing, acting (would love to get back into amateur dramatics), kind of guy.

He also happens to be a very experienced, qualified and award-winning Financial Planner (and not just any award - the UK Chartered Financial Planner of the Year Award!).

After 20+ years in the finance profession and having worked for one of Aberdeen and the UK’s best financial planning firms (they also won awards...) he started Stewardship Wealth on the 1st April 2018. His goal is to build a business that would delight clients, gather a team of fun to work with people, and raise money for charity, in particular the Church he is a part of. He has committed to giving away at least 10% of all the income of the business to charity, even before he pays himself!

He's been part of a growing Aberdeenshire church for 25+ years, during which time he as acted, sung, played the tambourine (sad, but true), served in and helped lead the children's ministry, helped run several Marriage Courses, Parenting Courses and Money Courses, been a Treasurer and Trustee for over 13 years and has helped lead a small group based bible study for as long as he can remember.

If you’re ever up for a deep and meaningful conversation about faith and finance...or a strategy based board game...then he’s your man.

P.S. He also has a collection of over 60 Monopoly Board Games, owns a Bowler Hat and once represented England in the World Folkdance Festival as a Morris Dancer...!
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Bex Elder

Bex Elder is a freelance translator and writer based in the North East of Scotland. While Bex is by no means a financial expert (unlike her more knowledgeable co-host), her love of a good chat, and sometimes debate, led her into podcasting. Bex splits her working hours between her own business and working a day a week for her local church as the Assistant Youth Pastor. Bex loves running, getting lost in a good book, drinking copious amounts of tea and never says no to a macaron.