The action of reinvesting is to invest again or anew. Reinvestment, from a financial viewpoint, is the practice of using dividends, interest, or any other form of income distribution earned in investment to purchase additional shares or units, rather than receiving the distribution in cash.
The Reinvest Conference is based on the idea of reinvesting into the future of our denomination. In 2019, the Board of Retirement hosted its first educational training conference, the Reinvest Conference. The purpose of the meeting was to help train new and young leaders in the areas of finance and leadership. We were planning to continue this conference in 2020, but COVID-19 affected the abilities of the world to meet together in person, especially when travel is required.
Financial issues can cause significant trouble for ministers in addition to the challenges of ministry. Finances affect our daily lives, but very few people believe they have a firm grasp on the best way to handle finances. When it comes to ministry, like other non-profits, leaders trained in areas other than finance are often required to wear the “financial hat” for the church or organization because there is no one else. The Reinvest Conference was created to provide some of the training these leaders would need to give them the confidence to manage not only their personal finances but the finances of the ministries they oversee.
Since we had to readjust to the new normal in 2020, we are switching gears and creating online resources and podcasts for our denomination through reinvestfwb.com, so more of our denominational leaders can have access to this information and training from Reinvest. The online resources will cover a variety of topics ranging from personal finance to the business side of running a fruitful ministry. The aim is to provide information that not only ensures your ministry fulfills legal requirements but also can thrive in the future, with proper planning and risk management. We are also launching a podcast for accessible education on the go. These conversations will include topics that a lot of people have questions about, but don’t know who or exactly how to ask. These include financial issues like:
- Things to know if/when your parents pass away.
- Is it better to purchase or rent a home?
- What does “financial stability” actually look like?
The majority of Americans live paycheck to paycheck, which leads to a lot of misinformation when it comes to finances. As stewards of our God-entrusted resources, we want to help teach our denomination to be the servants who received five talents and returned ten, or the servant who received three and returned six. Exposure and training in financial principles is the only way to help young leaders build the confidence needed to move forward and develop for the future.
Our goal through all of this is to help our denomination grow and fulfill the mission the Lord has for each of us. Finance is a tool each of us must master to help our de-nomination reach full potential. Whether personal finances or financial planning for an individual ministry, being prepared for the opportunities in the future will allow us to meet God where He is already working and join Him.