Here is some of what Ryan Young has to say on the issue...
"1. It is intentional... So you and your buddy are not the church unless you have come together with the intent of exemplifying the kingdom in a unique and powerful way.
2. It is not a building. I know we have heard this before but I wonder how you answer the question “what are you doing thing sunday?” I would bet cash money that in general we would answer “I am going to church.” Now someone might accuse me of playing word games here but the way the body acts today suggests that our poor use of language accurately describes our belief about where it is that we perform the functions of the church.
3. It is a community. This is a literal statement. Unfortunately we have bought into the American/Suburban gospel which has taught us that getting together twice a week was the spiritual equivalent of literal community. The scripture teaches that we (plural) are a city on a hill or the salt of the earth or the light of the world (these are all presented in the singular) meaning that we are not any of these things alone.
4. The church gathers regularly.
5. At these meetings everyone brings something (teaching, gifts, prophecy… “…When you assemble each one has a psalm, has a teaching, has a revelation, has a tongue, has an interpretation.” Additionally if revelation comes to someone other than the guy who is speaking he is supposed to sit down and give way. Hmm…
6. It is powerfully gifted. It is supposed to be the group to whom people come to be healed through prayer (not just a house of prayer) It is a group which exhibits supernatural love, hope, peace and so on.
7. It disciplines its own and does not judge those outside.
8. It meets the needs of 1. the brethren and 2. its local community.
9. It prays
10. It testifies of Christ.
11. It is governed by elders.
12. It is the body of Christ, meaning that it represents [re-presents] Christ in the world.
13. It is a body that worships"
I encourage you to check out Jesse Phillips' blog,where a similar discussion is being held.