His name was James P Drevets and he was the first Chief Financial Officer of Covenant Retirement Communities and my predecessor, mentor, colleague, and trusted friend.

I was the first employee of a central office established by Covenant leadership to serve a loose confederation of retirement communities around the country. At that point in time, there were no formal national policies and procedures. There was no national system for processing financial statements or evaluating results. There was no cash management system. There were no computers. There was no overall budget preparation process and review. The list could go on and on but you get the picture.

I’ll never forget the day I heard that a Chief Financial Officer had been hired. How do you prepare for the new CFO’s first day when there was so much to do and so many items needing attention? I was convinced there would be numerous finance-related questions that I simply would not be able to answer.

I’ll never forget the first time we met. Jim asked me…

“What is the mission statement of Covenant Retirement Communities?”

The question caught me totally off guard. We were in crisis mode seeking to pay bills and to figure out where we had been, where we were at and where we were headed. We were seeking to put reasonable structures, systems, policies, practices, and procedures in place. The idea of a mission statement – to be perfectly honest – had never entered my mind. We had no mission statement.

We quickly changed that!

A Bain and Company study discovered organizations that have clearly defined Vision and Mission statements that are aligned with a strategic plan outperform those who do not.

What is your mission statement? Have you looked at it lately? How does it differ from your vision statement?

At Ministry Ventures, we’ve worked with hundreds of ministries and non-profits to help them clarify their mission and vision. Quite simply, clarifying your mission and vision can help you raise more money, engage more people in your ministry, and help you be more effective.

Schedule a free consultation.

Ric Olson

Certified Coach

MinistryVentures.org