We help Kentucky Baptists with unique church/minister tax issues, compensation planning and benefit plans available through GuideStone Financial Resources of the Southern Baptist Convention.
These downloads and links will help you navigate common issues related to church finances:
Basic Tax Concepts for Ministry-Related Tax Issues: Who is a minister for tax purposes? Is a minister self-employed? What special tax provisions are provided to ministers? All these important basic questions are addressed in this document.
Basic Internal Controls: This simple worksheet/checklist walks leaders through practical, common-sense practices and procedures to insure money is handled with integrity.
Compensation Study: The Compensation Study was a joint project of state Baptist conventions, GuideStone Financial Resources, and LifeWay Christian Resources. Compensation and congregational data was collected anonymously from ministers and office/custodial personnel of Southern Baptist churches and church-type missions. Reports are based on compensation for nearly 13,000 respondents from all 50 states.
Financial Support Checklist: Use these fifteen questions to evaluate the financial support for ministers serving in your church.
Minister’s Housing Allowance Estimate Worksheet: This worksheet helps minister’s estimate their housing costs for one year.
How Churches Structure Financial Support for Ministers: Lump sum vs. financial support plan — which is best? This document outlines the ways churches structure financial support for ministers.
Insurance: This helpful document will educate churches and leaders on insurance options.
Medical Reimbursement Plans: What is a Medical Reimbursement Plan, and should a church adopt such a plan for employees? This helpful document will tell you more.
Minister’s Financial Support Worksheet: This helpful worksheet will assist leaders in assessing ministers’ pay packages and the cost to the church.
Minister’s Housing: Ministers are able to set aside a portion of their pay as “housing allowance” under IRS rules, reducing their tax burden. Find out more in this helpful document.
Ministry Related Expenses: How should your church account for ministers’ ministry-related expenses? This worksheet will walk you thorugh the options.
Reporting to the Internal Revenue Service: Reporting to the IRS is necessary for churches! This helpful document walks leaders through every step of the process: from obtaining and Employer Identification Number to completing W-2 forms.
Retirement: Get the basics about retirement from this helpful document.
Sample Expense Form: This is a sample for for tracking reimburseable expenses.
Sample Expense Policy: This sample policy helps leaders create a clear, efficient process for documenting ministry-related expenses.
Sample Financial Support Plans for Ministers: These two sample plans — one for a full-time minister, one for bivocational — will help leaders get a real-life picture of support plans.
Social Security: Do ministers need to pay Social Security? Do churches? This helpful document will walk you through the answers.
Structuring a Minister’s Financial Support Plan in 4 Easy Steps: Especially helpful for personnel committees, finance committees and pastor search committees, this document walks leaders through the basics of financial support for ministers.
What Changes Financially When One is Ordained as a Minister? Once one is ordained, licensed or commissioned as a minister, some things change regarding their finances. This chart outlines some of the general differences for employees serving in Southern Baptist churches.
What Does the Bible Say About Financial Support for Ministers: What does the Bible say about financial support for ministers? Explore the Bible’s instruction for churches and ministers.