Church Financial Leadership Grants available now

If you are a pastor, commissioned ruling elder, a leader of a 1001 New Worshiping Community, or a member of a stewardship team, the Presbyterian Foundation has Church Financial Leadership Grants available for you. The grants will enable you to institute best practices for church financial leadership, introduce you to new models of giving and stewardship, and offer you new ways to talk about money and form generous disciples within your church.

Some of the events for which you can use the funds include Stewardship Kaleidoscope (see item on this year’s event further below), Executive Certificate in Religious Fundraising (ECRF) through the Lake Institute, and other church financial leadership events (subject to approval).

Selecting Board of Pensions benefits for 2024

The Board of Pensions (BOP) has announced the time frame for employers to select benefits offered to employees for next year. The window for creating your employer agreement will be open August 14 through October 6. While full details of 2024 benefit costs will not be available yet, BOP has announced that medical dues for Pastor’s Participation will remain at 29% of effective salary for 2024, and to set the maximum annual dues amount at $36,000 and minimum annual dues amount at $12,500. Total dues for the Pastor’s Participation benefits package will remain at 39 percent. Please go to the BOP website for more information on 2024 benefits offerings and how to create your employer agreement.

Assets and Liabilities: Managing Your Church’s Balance Sheet

Church leaders need an understanding of a church’s debts and assets – two major components of the balance sheet. On May 23, experts with the Presbyterian Foundation, Presbyterian Investment and Loan Program, and New Covenant Trust Company shared their knowledge in a webinar, covering three aspects of church finances: understanding your balance sheet, appropriate levels of debt and the process for acquiring debt, and matching assets with time horizons for optimal investment returns. Click here to watch the recording.

Paying guest speakers

As we are in summer and are making plans for Vacation Bible School and other summertime events, I often get asked: “We had someone in to speak at our (fill in the event). They didn’t ask for any money, but we wanted to thank them for their time. That would be a love gift and not taxable to them, right?” The correct answer is, because they performed a service for the love offering, the IRS requires the church to file and send a 1099-NEC if you gave them $600 or more in a calendar year.

Churches and/or nonprofits are required to obtain a completed and signed W-9 from anyone that they give a love offering, honorarium, gift, etc., if some kind of service was performed. You do not have to report reimbursements for travel expenses if mileage and expense information is submitted and reimbursement is at the IRS standard rate. I am happy to discuss your questions about how to handle guest speaker/musician payments and have resources available.

Stewardship Kaleidoscope: Sept. 25-27

Registration is open for this year’s Stewardship Kaleidoscope, featuring more than 30 workshops spanning theology, practical stewardship planning, creative ventures, and legacy programming. Register and explore stewardship in its many colorful dimensions!

2023 IRS Standard Mileage

On December 29, 2022, the IRS announced the following changes to the standard mileage rates. As of January 1, 2023, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be:

  • 65.5 cents per mile for business miles driven, up 3 cents from 2022
  • 22 cents per mile driven for medical or moving purposes, up from 18 cents for 2022
  • 14 cents per mile driven in service of charitable organizations

2023 Per Capita

The 2023 Per Capita rate will be $30.30 per member, according to the church’s membership in the most recently filed statistical report. The 2023 Per Capita was approved at the August 2022 presbytery meeting. With the total rate at $30.30 per member, the Presbytery of West Virginia will keep $18.05 and sending $9.85 and $2.40 to the General Assembly and Synod of the Trinity, respectively.

Helping us understand the importance of Per Capita to our connectional church is this excellent article from Presbyterians Today, titled (coincidentally enough) “Understanding Per Capita.”

2023 Special Offerings Calendar

Here is this year’s calendar for the four churchwide Special Offerings of the Presbyterian Church (U.S.A.), of which two remain.

PEACE & GLOBAL WITNESS: Sept. 3 to Oct. 1

CHRISTMAS JOY: Dec. 3 to Dec. 24

NOTE: Donations to the four Special Offerings are accepted at any time. The dates above are for times of special emphasis on the offerings. Click here for more information or to order resources, or call the PC(USA) Store at 800-533-4371.