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Housing Allowance for Ministers

Housing Allowance is a substantial tax benefit provided by Section 107 of the Internal Revenue Code to qualifying ministers.  Ministers can exclude the fair market rental value of their home from gross income for income tax purposes.  This includes furnishings, utilities, and other items needed to maintain the home. This privilege has been challenged a [...]

By |2019-11-08T17:14:36+00:00November 8th, 2019|Church Finance, Church Governance|0 Comments

Your Church Council Can’t Delegate Away Your Preschool

I have performed many Financial Policies and Procedure Audits over the past three years and a subject that always seems to be a sore spot is the preschool. Some of the people I interview see the preschool as a ministry outreach to the community. Others see it as an income source and good use of [...]

By |2018-09-25T01:14:26+00:00September 25th, 2018|Church Governance|2 Comments

Prudent Management of Endowments

A far-to-underutilized-resource in churches and nonprofits is the building of a strong endowment.  Some of our organizations have them, some don’t and, sadly, some really don’t know.  As I performed an audit on a local church recently, I came across several investment accounts that had not been touched for several years.  As I inquired about them [...]

By |2018-03-29T00:55:05+00:00March 12th, 2017|Church Finance, Church Governance|0 Comments