The Saint Paul’s Baptist has always been committed to financial transparency and accountability. That’s why we have always gone above and beyond what is required of us as a ministry:
FINANCIAL INTEGRITY AND TRANSPARENCY:
Annually, external audits are performed by a certified public accounting firm. For the past three years, Keiter CPA (Glen Allen, Virginia) has performed the church’s audits. To date, we have received unqualified audit reports which indicate that financial statements present fairly, in all material respects, the financial position of the church. Collaborative decision-making is strongly encouraged in all financial transactions among senior staff. The governing council of the church has controls in place to ensure that there are adequate checks and balances with regards to spending and borrowing funds.
All financial support is used to achieve the vision of the church through its five core strategies: celebrate in worship, connect with each other in groups, cultivate our spiritual formation through study and discipline, care for each other and the world, and contribute our money and minutes to the work of the ministry. Our top donors every year include our Senior Pastor, Dr. Lance Watson and our First Lady, Rose Watson.
Using donated resources and bank financing, we have constructed a 125,000 square foot state-of-the art campus, and acquired 330+ acres of land for additional ministry use. In addition, we have been given two additional campuses, both of which are being renovated.
Pastoral compensation is derived using comparative reviews and data derived from published reports and other churches of similar size, structure and complexity. The church strictly adheres to IRS codes and regulations regarding reasonable compensation. Our executive employees are experienced, multi-degreed professionals with an average of 15 to 20 years of experience in their areas of expertise. Our human resource policies and practices are reviewed annually. Administrative salaries and benefits programs are derived using a host of credible professional sources and consultants. The Compensation Review Committee remits salary and benefit recommendations to the Executive Council, the church’s governing board. Approved recommendations are administered by the church’s Human Resources department.