Strategies Church Financial Leaders Use for Financial Sustainability During Economic Crises

• Main Author: Jackson, Jessie Hyman
• Format: Others
• Language: en
• Published: ScholarWorks 2018
• Subjects: Church Financial Leaders; Economic Crises; Financial Management; Financial Sustainability; Resource Dependence Theory; Strategic Leadership in Churches; Finance and Financial Management; Organizational Behavior and Theory; Sustainability
• Online Access: https://scholarworks.waldenu.edu/dissertations/6220; https://scholarworks.waldenu.edu/cgi/viewcontent.cgi?article=7499&context=dissertations

Church financial leaders were affected by the economic crisis after the 2008 recession. In a 2009 group study conducted nationwide with church financial leaders, 57% stated that the economy had a negative effect on their church budgets. The purpose of this qualitative multiple case study was to explore successful strategies that some church financial leaders used to ensure financial sustainability during economic crises. Resource dependence theory was the conceptual framework. Data were collected from 6 church financial leaders at 4 churches in the northeastern region in the United States; church financial leaders were selected through purposeful sampling to participate in semistructured interviews. Data were also collected from church documents, such as financial records and budget statements. These data were analyzed to identify emerging themes using Yin's 5-phase process: compiling, disassembling, reassembling (and arraying), interpreting, and concluding. The 3 themes that emerged from the data analysis were (a) provide strategies to acquire external resources, (b) specify plans to establish internal strategic factors, and (c) provide strategies to improve financial and strategic management. Findings and recommendations of the study could contribute to positive social change by providing church financial leaders with successful strategies to ensure financial sustainability during economic crises and by increasing church revenue and improving social programs, which help improve the needs of staff, members, and people in the community.