Finances 2017-02-20T16:09:13+00:00

Finances

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Partnership Development Bible Study

Explore your beliefs and see what the Bible says about how ministry is financed. 250 KB
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Ministry Budget

Your ministry budget, which determines the amount of support you must raise, is based on an estimate of all your basic living and ministry expenses. This detailed calculation takes into consideration:

  • location
  • housing
  • food
  • transportation
  • organizational assessment
  • number of children
  • children’s education
  • social security and taxes
  • medical and life insurance and expenses
  • retirement savings
  • evacuation insurance
  • communication and travel to see partners
  • other factors

Budget Details

You will also need one-time support for expenses that occur occasionally, such as travel expenses, housing setup, a vehicle, language or professional training, and other special expenses.

The ministry budget is not an upper limit on what you can receive from your financial partners. Rather, it represents the amount required for you to be considered fully supported. Permission to proceed to your assignment will not be granted until you reach 100% support and can cover one-time expenses, in either pledges or income.

Remember that the ministry budget does not guarantee the amount you will actually receive. You will live off the amount your donors send each month, less deductions (insurance, retirement, organizational assessment). Each career staff person is responsible for building relationships by communicating with partners, trusting God to work through them to provide full support.

Receiving Support

When partners send gifts to your designated organization, they receive a receipt, which in many countries is tax-deductible. A printed form and envelope accompany the receipt encourages further giving and save everyone time. Partners may also be able to give via bank transfer, automatic credit card deduction or check.

Once a month you will receive a detailed statement that shows:

  • Gift income—donor’s name, address, date, and amount received
  • Tax deductions—amount required for your working location
  • Fixed deductions—medical and life insurance, retirement, social security, workman’s compensation
  • Giving—gifts given to or from other members (yes, members can be a financial partners)