Service Provided by:
Don Spencer
(502) 489-3521
(866) 489-3521(toll free in Ky.)
We provide ministers and church leaders with information regarding church finances and benefits, including:
- How to structure financial support for ministers and church employees
- Unique tax issues faced by ministers and churches
- Maximizing the use of products and services available through GuideStone Financial Resources
These documents are not intended to be sufficient for dealing with every specific legal and tax situation, and the reader should not rely upon these documents as a substitute for competent tax or legal professional advice.
Financial Resources
Each link below opens a PDF file or web page that addresses that issue. All documents are current as of January 2015.
Basic Concepts for Ministers
- The Bible and Financial Support for Ministers
- 5 Observations on Pastors’ Salaries by Thom Rainer
- Who is a minister for tax purposes?
- Is a minister a church employee or self-employed?
- What special tax provisions apply to ministers?
- What financial issues change when one is ordained as a minister?
- Is it OK for a minister to opt out of Social Security?
by Russell Moore
Financial Support for Ministers & Church Employees
- Should a church offer a minister a LUMP-SUM PAY PACKAGE?
- How churches typically structure financial support for ministers
- Sample church policy regarding financial support of staff
- How to structure financial support for church employees in 4 steps
- SBC Compensation Study
- Ministers’ Financial Support Worksheet
- HOUSING: Basics of housing for ministers
- HOUSING: Housing Allowance Estimate Form
- HOUSING: Sample Housing Allowance Notification Form
- RETIREMENT: Retirement contributions for church employees
- INSURANCE: Insurance for church employees
- SOCIAL SECURITY: Social Security for ministers & church employees
- EXPENSES: How to cover ministry-related expenses
- EXPENSES: Sample church expense reimbursement policy
- EXPENSES: Ministry-Related Expense Form
- Checklist to evaluate your church’s financial support for ministers
- Sample financial support plans for ministers
- Voluntary tax withholding by ministers
- Educational assistance for ministers & church employees
- Severance pay for ministers and church employees
- MINISTERIAL TAX QUESTIONS: Answers to common questions
IRS Reporting Issues
- Reporting compensation to the IRS: A brief guide for church treasurers
- How to complete a W-2 form for a minister
- Charitable contributions
Providing Medical Coverage Issues
Other Church Financial Issues
- Handling money in the church: Basic internal controls for every church
- The Church Treasurer
- Church Financial Policy Model by Keith Hamilton
- Record Retention: How long should records by retained by the church?
- Workman’s Compensation: Are churches required to have it?
- UBIT: Unrelated Business Income by Churches
Forms
- Financial Support Worksheet for Ministers & Church Employees
- Minister’s Housing Allowance Estimate
- Sample notification of housing allowance from church to minister
- Sample church expense reimbursement policy
- Ministry-Related Expense Form
Other Resources
- SBC Compensation Study
- GuideStone Financial Resources, SBC (for numerous additional resources)
- Tax Guide for Ministers & Churches
- Health Care Reform: How it applies to churches
- IRS Tax Guide for Churches & Religious Organizations
- Evangelical Council for Financial Accountability
- Church Law & Tax
- Employee Benefit Corporation (for FSAs & HRAs)
- GuideStone’s Property & Casualty Insurance (through Brotherhood Mutual)
Training Videos
- Handling Money in the Church
41 minutes – Basic principles and best practices for handling church money including Charitable Contribution issues. It includes 20 basic internal controls churches should apply. - How to Structure Financial Support for Ministers and Church Employees
52 Minutes – A guide for Church Leaders. Includes full details on all the elements that go into a Financial Support package with a sample package to illustrate. - How Churches Should Handle Ministry Related Expenses
11 Minutes – Rules and best practices a church should follow in handling the expenses a pastor and other church employees incur in doing their job. - Social Security for Ministers
11 Minutes – A guide to the unique Social Security rules that apply to ministers and guidance for how a church should handle Social Security for ministers. - Housing for Ministers
12 Minutes – A review of the basic rules, procedures and reporting requirements for Housing provided for ministers. - Charitable Contribution Issues for Churches
20 minutes – Rules and best practices for churches in dealing with Charitable Contributions