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Even if one of your members is a professional accountant or bookkeeper for nonprofits, it will still be an investment to hire a specialist to handle your church's books. This is why we encourage you to make it a priority. Your church can reap the benefits of this investment in three ways.
FT Walton Church Bookkeeping LLC provides assistance to clients in understanding the complexities of clergy tax law, church pay & human resources. Our specialists are committed to keeping our clients abreast of tax news, developments, and trends in various specialties.
Your church's leadership and administrative team will be able focus on the mission of the church, not its bookkeeping.
It is important to remember that costs increase as your church expands. There are additional costs for many features, including accounting and church management. FT Walton Church Bookkeeping LLC offers growth opportunities for those who want to grow.
Many of the same labor laws and employment rules apply to churches as to non-profit organizations. This includes guidelines on classifying your workers either as employees, or independent contractors.
These responsibilities may vary from church-to-church depending on the job description or according to their bylaws.
The IRS may begin a church tax inquiry only if an appropriate high-level Treasury official reasonably believes, based on a written statement of the facts and circumstances, that the organization: (a) may not qualify for the exemption; or (b) may not be paying tax on unrelated business or other taxable activity.
81% of church revenue came from individual donations. 34% of congregations have endowments, which constituted on average 4% of their revenue. Only 2% of churches received revenue from government grants; 12% received finance from non-government grants.
Churches And Transparency
The standards of the Evangelical Council on Financial Accountability require that member organizations provide audited financial statements on request.
The biblical pattern shows without question that the pastor should be involved in the oversight of the church's finances, however, Scripture also prescribes the attitude and actions of the pastor to avoid disqualification of influence and trust.