I’ve blogged in the past about the tension that can develop between people who hold differing views about how to manage ministry finances. The topic can spark passionate discussion. It can also spark thoughtful guidance from ministry leaders like Henry Morris III, chief executive officer with the Institute for Creation Research.
I stopped by the ICR website the other day and ran across a piece Morris wrote titled “Ministry Money.” He says that “the principles of money management routinely place ministry leaders in certain tensions regarding wise stewardship. Some insist on debt-free ministry operations. Others see prudent financing for capital projects as wise financial leveraging.” He goes on to offer some “biblical admonitions to help us all make wise financial decisions.”
If you’d like to learn more about ICR’s ministry, check out the video we did last year titled Contending for Creation.
Understanding tax guidelines for nonprofits and faith-based organizations can sometimes be complicated. That’s why we feel it is necessary to provide as many resources as possible.
The California State Board of Equalization and Cal State Fullerton are partnering to host a free tax seminar for nonprofit and faith-based organizations on July 12, 2011.
For more information and to register, click here.
Ministry organizations, including churches as well as missionaries, are required to report foreign accounts with aggregate balances that exceed $10,000 at any time during the calendar year to the Treasury Department by June 30. If you read my post several months ago, I wrote about this reporting requirement in detail.
Churches, which are not required to file IRS Form 990, are even required to report. So don’t think that because they are not required to file a tax return, they are exempt. And even if a ministry or missionary obtains a tax-filing extension, they are still required to file by June 30. The reason is that this reporting is not considered a part of a tax report or return.
For a useful flyer for missionary staff, see Publication 4261. Treasury Department Form TD F 90-22.1 is used for filing. For complete information on this topic, visit the IRS website.
If your ministry is sending and supporting missionaries on the field, check out this upcoming webinar presented by the Evangelical Council for Financial Accountability (ECFA) and Church Executive. 7 Key Issues to Properly Handle Missions Finances will cover topics like how to clearly communicate missions needs to givers, how to measure and fulfill the expectations of people who support missions, and how to handle the administrative responsibilities related to missions finances.
Presenters at this June 28, 2011 webinar include Dan Busby, ECFA president, Samantha Cave, McLean Bible Church global impact administrator, Pat Willow-Kulesza, Willow Creek Community Church’s director of international serving, and John Van Drunen, ECFA vice president.
Click here to register.
You’re going to speak to your congregation about money. What do you say and not say? Jamie Munson, lead pastor at Mars Hill Church in Seattle, wrestles through this question and more in a recent XPastor article, How to Talk about Money in Church. “The ultimate goal is not to make budget, save for a new building, or employ staff,” Munson says. “We want our church to give because we want our church to worship Jesus. Therefore, the gospel must precede the ask. Preach the grace, goodness, and generosity of God in Jesus Christ, and then explain how the Bible instructs us to respond in part through giving.” He goes on to discuss “some of the most frequent questions and arguments about giving I’ve encountered as a pastor, along with how I might respond.”
What’s your experience? How do you talk about money with your congregation or donors?