Has Your Church Completed a Personal Property Inventory?

Completing a personal property inventory of your church or ministry could be one of the wisest activities you can pursue. Could you list and value the major items in your sanctuary or office from memory? What about the personal property of others stored at your ministry facilities?

If disaster strikes and you file an insurance claim, you may need an inventory highlighting damaged items. Having a detailed inventory not only helps you determine adequate insurance coverage for personal property before a loss, but it also speeds the claim process if you suffer a loss.

An ideal inventory is a written one, supported with pictures

  • Written inventory: Your insurance agent can give you a personal property inventory form, or you can construct your own. An inventory should include:
  • Description of property or item (type, model number, serial number)
    • Quantity
    • Purchase information (where, when, how much)
    • Cost to replace new today
  • Pictorial inventory: When photographing or videotaping your contents, strive for quality reproduction. Sharp pictures and close-up shots are the best. They reveal more, particularly when you’re trying to identify and assess value.

No matter which method of inventory you choose, attach or store proof of purchases with it. These include invoices, cancelled checks, bills of sale, credit card receipts, or gift records. Update your inventory annually and keep two copies of it in separate locations and one with your insurance agent.

What should you record?

First, begin by identifying the big-ticket items:

  • Sound equipment (microphones, speakers, sound board)
  • Office equipment (computer, copier, fax, telephone system)
  • Musical equipment (organ, piano, keyboard)
  • Kitchen equipment (microwave, stoves, industrial-sized mixer)
  • Audio-visual equipment (projector, television, DVD player)

Document specialty items like unusual communion sets, candleholders, crosses, or artworks that are not part of your building. Art objects with a value greater than the item’s functional value may need special fine arts coverage. Be sure to inventory smaller items that add up when you have them in quantity; i.e. hymnals, folding chairs and tables, library materials, etc.

Continue your inventory on a room-by-room basis, and remember to itemize the personal property of others stored at your facility. If it were stolen, the owner needs to notify his personal homeowner’s insurer (his primary insurer) and know how the ministry’s insurance applies after his own insurance.

Call your agent before starting your inventory. Your agent can give you tips pertaining to your situation, answer questions about your present coverage, and help you evaluate whether you need additional insurance coverage.

June 25, 2018
Celebrate July 4 Safely
Celebrate July 4 Safely

Will your ministry be hosting a Fourth of July celebration this year? You may be planning a spectacular firework show as part of your festivities. Read this post before hosting an event at your ministry.

Tags: liability, damages, protect, directors and officers, coverage
June 1, 2018
June Is National Safety Month - Week 1: Emergency Preparedness
June Is National Safety Month - Week 1: Emergency Preparedness

The National Safety Council has designated June as National Safety Month, so we want to make sure your ministry is doing everything it can to protect its people, property, and programs. Each week in June, we’ll tackle a different topic. Up this week: Emergency Preparedness.

Tags: disaster prep, fire prevention, lightning, medical emergency, medical team, storms, weather emergency
April 18, 2018
Collect Online Donations? This New Scam Targets You
Collect Online Donations? This New Scam Targets You

There’s a new scam in town, and ministries and other organizations collecting donations are the primary target. If your ministry collects tithes or donations, you could be targeted by scammers practicing donation overpayment fraud.

Tags: finance, donations, cyber security, fraud
February 21, 2018
Remembering Billy Graham
Remembering Billy Graham

Beloved evangelist Billy Graham was called to his heavenly home on Wednesday, February 21, 2018, at the age of 99.

Tags: billy graham
February 9, 2018
Flu Is Widespread: Protect Your Congregation
Flu Is Widespread: Protect Your Congregation

For the first time in its 13 years of influenza monitoring, the U.S. Centers for Disease Control and Prevention is reporting that every state in the continental U.S. is seeing widespread flu activity. Get tips on how to keep your congregation healthy this flu season.

 

Tags: protect, risk, health safety, health, flu
June 19, 2017
Off-Site Youth Activities
Off-Site Youth Activities

Snow skiing. Camping. Whitewater rafting. A youth group trip can give students an exciting diversion from their weekly routines, as well as an opportunity to strengthen healthy friendships. Off-site activities may challenge your students to step outside of their comfort zones a bit, but this can bring about a positive result.

Tags: youth, insurance, safety
June 7, 2017
Insurance Protection Should Accompany Every Mission Trip
Insurance Protection Should Accompany Every Mission Trip

If you are in the process of planning a mission trip for your church group, make sure to think carefully about insurance, safety, and security as you hammer out the details. Extra preparation could minimize headaches when your group arrives on the mission field.

Tags: mission insurance, foreign travel, liability, coverage
May 24, 2017
Think Before You Loan Your Ministry's Vehicles
Think Before You Loan Your Ministry's Vehicles

Has your church or school ever been asked to loan one of your vans or buses to another? Before you decide to loan your ministry vehicles to another organization, seriously consider the potential risks associated with such a decision.

Tags: auto insurance, loaning vehicles
March 29, 2017
Has Your Church Completed a Personal Property Inventory?
Has Your Church Completed a Personal Property Inventory?

Completing a personal property inventory of your church or ministry could be one of the wisest activities you can pursue. If disaster strikes and you file an insurance claim, you may need an inventory highlighting damaged items.

Tags: claims, coverage, insurance, property
March 15, 2017
Is Your Ministry as Safe as It Could Be?
Is Your Ministry as Safe as It Could Be?

Have you thought through potential dangers that may confront your ministry? Taking steps to consider and address these risks provides important protection from injuries, lawsuits, fires, and dozens of other hazards that may affect your ministry, especially your employees and those you serve.

Tags: safety, security, security team, protecting staff members, risk management
February 22, 2017
Health Care Reimbursement Option Now Available
Health Care Reimbursement Option Now Available

Small businesses—including churches and related ministries—can once again pay premiums for their employees’ health insurance. Previously known as an Employer Payment Plan (EPP) or Health Reimbursement Account (HRA), these arrangements violated the Affordable Care Act (ACA). However, due to a recently passed law, ministries that are not part of a group health plan now have another option to help employees with health care costs.

Tags: church staff, health insurance
February 15, 2017
IRS Warns of Dangerous W-2 Email Scam
IRS Warns of Dangerous W-2 Email Scam

Ministries beware: An email scheme, designed to coincide with tax season, asks payroll and human resource professionals to disclose employees’ personal information. Think you wouldn’t fall for such a scam? You might, if the email looks as if it came from someone in your ministry.

Tags: paying employees, cyber security, church staff, security, damages, digital, IRS regulations
February 1, 2017
Dual Tax Status: What Does It Mean for Your Pastor?
Dual Tax Status: What Does It Mean for Your Pastor?

Under federal law, most ministers have dual tax status. Dual tax status means a minister is an employee of the church for federal income tax purposes, and self-employed for Social Security and Medicare taxes. Here’s what you need to know.

Tags: church payroll, finance, IRS regulations, paying employees, tax code
January 18, 2017
Protect Your Board Against Lawsuits
Protect Your Board Against Lawsuits

Lawsuits against churches and ministries are on the rise, making their board members especially vulnerable. Sometimes, courts have found directors and officers personally liable when their actions have resulted in financial damages.

Tags: protect, directors and officers, protecting staff members
January 4, 2017
Incorporation Can Protect Church Members
Incorporation Can Protect Church Members

Incorporation takes the weight of responsibility off the shoulders of individuals and instead, places it on the organization. In contrast, a court may find all members of an unincorporated church legally responsible for negligent or criminal actions committed by one church member.

Tags: protect, directors and officers, protecting staff members
December 14, 2016
How Well Does Your Ministry Secure Personal Data?
How Well Does Your Ministry Secure Personal Data?

Ministries commonly store a variety of personal information about their members and the people who support them. Mailing lists and donation records may be the most familiar repositories of personal information; however, the average church database is also likely to include Social Security numbers and payment card information. Unsecured, this data could make church members vulnerable to criminals—putting church and ministry members at risk.

Tags: cyber security, digital, protect, risk, church offerings, financial gifts, liability, security
December 7, 2016
Keep Would-Be Thieves from Curbing your Christmas Joy
Keep Would-Be Thieves from Curbing your Christmas Joy

Large or small, churches and ministries are often easy prey for would-be thieves, especially as church holidays, like Christmas, approach and weekly offerings increase as more people return to worship and other ministry activities. Ministry leaders can boost their ability to keep thieves away from their contributions and property by taking just a few precautions—not only during the holidays, but also throughout the year.

Tags: liability, damages, protect, directors and officers, coverage, liability, protect, risk, safety, church offerings, financial gifts
November 30, 2016
Are Your Church Christmas Decorations a Fire Hazard?
Are Your Church Christmas Decorations a Fire Hazard?

Churches seldom look more beautiful than when they're decorated for the holidays. Candles, lights, and greenery add splendor to the celebration of Christ's birth. Unfortunately, they also contribute to a number of fires each December. As you haul out the decorations, remember to balance beauty with safety.

 

Tags: liability, damages, protect, liability, protect, risk, safety, fire prevention
November 16, 2016
Always Looking for Church Nursery Volunteers?
Always Looking for Church Nursery Volunteers?

Having a hard time finding people to serve in the church nursery? Do new volunteers stop serving, shortly after they begin?  There could be a number of reasons for that.

Tags: liability, protect, risk, safety, youth, volunteers
November 9, 2016
Take Steps to Prevent the Flu
Take Steps to Prevent the Flu

Do you remember the last time you caught the flu? You probably sneezed and coughed and ached all over, resting your stuffy head by a box of tissues and wishing you had the energy to do more than lie there. Well, it’s time to watch out. The flu virus is preparing to pounce again.  

Tags: cyber security, digital, protect, risk, health safety, risk