RDA assists churches with long-term financial planning and reserve budgeting.
All nonprofit organizations can benefit from reserve studies, including churches and worship facilities. Many churches tend to have older structures that are more prone to breakdowns and declining conditions. But even institutions with more modern facilities are vulnerable to deterioration.
Most churches have their routine maintenance schedules and operating procedures down pat, but it is easy to miss major replacements and repairs that may come up in the future. Even with daily maintenance, for instance, a building’s roof will eventually need to be replaced.
Faced with an unbudgeted cost like this, a church may not have enough funding to cover the expense. With proper capital planning for churches, though, there would be no need to turn to expensive loans or delay the project. This is where a reserve study comes into play.
A reserve study is an analysis of an organization’s assets and components, including its current funding balance, to determine how much it needs in its reserve account to meet future financial demands.
It lays down a schedule that indicates the remaining lifespan of components, the expected cost to repair or replace those components, and the amount the organization must set aside each year to be financially prepared for such replacements or repairs.
Reserve Data Analysis provides each client with an RDA report as part of our reserve study for worship facilities.
Our report includes the following:
We generate all of our reports using localized cost guides and economic and investment parameters. Our clients can expect our full dedication and care throughout the generation process. We also provide support and guidance throughout the entire year, allowing you to get in touch with us for any questions regarding budgeting and long-term planning.
Reserve Data Analysis offers four levels of service for reserve study for churches. All levels come with the following:
This level of service comes with a physical on-site walkthrough of your church to determine the condition of your components and to take precise measurements.
This level of service comes with a physical on-site walkthrough of your church to determine the condition of your components, but there are no measurements taken.
This level of service does not include a site visit or inspection but comes with a readjustment of your funding plan using your prior church reserve fund study calculations to compensate for such things as inflation, price hikes on materials, investments, and yields on your investments.
This level of service does not include a site visit or inspection. Instead, you can save money and learn about your church by conducting the inspection yourself. It includes a step-by-step guide through the collection process of components and measurements. Using the data you’ve collected, our corporate office compiles your measurements and validates your information to ensure no costly mistakes.
RDA’s self-made and self-contained software is a fully integrated management, computational, and projection tool. Our software allows for greater detail, more accurate projections, and more intricate computations without the limitation of a 20- to 30-year window.
Using this software, our report also comes with a 3D MODEL of your facilities with a detailed breakdown of square footage.