Church Growth & Leadership

Don’t Overspend This 4th Of July

There are many ways to save money for this Independence Day. By switching payment processors, a nonprofit organization could save thousands in fees and serve an entire community.

My Well Team

Every 4th of July we get together to celebrate the signing of the Declaration of Independence. I’m not a real history buff, but I do remember one of the big reasons that our founding fathers wanted independence was because they felt they were being treated unjustly by England. They were paying fees without having a voice in the court that determined where the money goes. “No taxation without representation” was one of their main slogans.

It occurred to me that churches often find themselves in a similar situation. They can pay two or three times the amount a secular business pays in processing fees. This is because their donation management system wants to increase its own revenue. The church gets nothing in return for these higher rates. Donations are processed at the same speed and accuracy as payments are for for-profit businesses.

At My Well Ministry, we don’t think that is right. Our systems are just as accurate and just as timely, but organizations using My Well pay half the processing fees. They are able to do this since we only charge them what it costs us to process the donations. 

These savings benefit more than the church though. Our partners are able to put more money into their ministries which serve the community. When someone tithes to a church or donates to a ministry, that donation needs to go to where it was intended, not to a bank, processor, or software company.

So this year as you are shooting off fireworks and enjoying a nice cookout, don’t forget the founding fathers and their dislike of tyranny. If you feel like your organization is being cheated, remember there are other options. We would love to connect with you to see how we can best serve you.

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