Financial Policy Compliance • Church Interns • Managing with Compassion: Management Roundup
Original post by Church Law & Tax on September 7, 2015 1. Getting pastors and staff to comply with church financial policies."Know the rule. Identify the specific law or regulation that may be affected by the church or church leader's activity. Is it an internal procedure? Is it an IRS regulation? Be prepared to clearly state the rule that needs to be followed" ("Coaching Up Pastors and Staff," by Samuel Ogles, SkillBuilders). 2. To get more church work done, consider interns
Senate Finance Committee Concludes Investigation on IRS Oversight of Tax-Exempt Organizations
Original post by ECFA on August 6, 2015 The U.S. Senate Finance Committee has just released a report detailing its findings from an extensive investigation involving the IRS Exempt Organizations Division. The committee’s report marks the end of a review process that began over two years ago when leading IRS officials admitted to inappropriate processing of tax-exempt applications based on perceived political affiliation. Read full post here. #IRS
Lack of Staff Could Render Nonprofits Vulnerable to Fraud and Scams
Original post by ECFA on August 18, 2015 While most well-intentioned nonprofits make efforts to prevent financial fraud, each year many of these organizations lose millions of dollars due to inadequate safeguards against scams and crime. A newly released Nonprofit Financial Management Survey, by the Evangelical Council for Financial Accountability (ECFA), found that nearly 40 percent of financial management teams lack annual fraud prevention procedures, checklists and similar
Bishops, agencies to see insurance changes
Original post by UMNS on August 31, 2015 Big changes are coming to the United Methodist health plans offered to bishops and general agency employees, largely in response to the Affordable Care Act. These changes are the first steps in avoiding the 40-percent excise tax, commonly called the “Cadillac tax,” that will apply to “high-cost” employer-sponsored coverage starting in 2018. The levy is the first U.S. tax on health care benefits, and it has the potential to affect the b