| This multiple case study investigated the impact of financial literacy competencies on faith-based organizations (five independent religious organizations in a major metropolitan city in the Midwestern USA were selected for the study) using four research instruments---assessment, interviews, observations and archival records---for data gathering and study analysis. Financial literacy competencies serve as financial foundation for pastors and financial managers in both for-profit and nonprofit organizations. Research work has identified five financial literacy competencies; they served as the basic theoretical construct for the study. Research work has shown that the study enabled the researcher to explore differences within and between cases, as well as replicated findings across cases, while contrasting results based on a theory. Further research work revealed that the roles of faith-based financial managers were performed by pastors and financial managers who were untrained in financial areas, and thereby lacked financial literacy competencies. The results obtained from the financial assessment revealed that 55% of the participants scored poorly in the assessment testing. 45% of the participants scored well. It was concluded that 11 of the participants did not have finance literacy based on their nonfinancial background and the scores attained during the assessment, as well as inadequate training in financial matters. These assertions were supported by the findings from the interview and observation sessions, as well as a lack of evidential record from the archival records testing. |
