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.
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.
We believe everyone should be empowered to make informed financial decisions. We are proud to share the knowledge we have, even though we don't offer every financial product and company available, but we do provide objective and independent information and tools that are simple and easy to use.
Your church's leadership and administrative team will be able focus on the mission of the church, not its bookkeeping.
You might need more functionality than QuickBooks Premier Plus provides as your church grows. Your church's growing needs will include the ability to manage volunteers, events, allow online giving and run email campaigns.
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Most of the labor and employment laws are applicable to churches as well as "for profit" organizations. These laws include guidelines on how to classify your workers as independent contractors or employees.
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.