Finance Team

• The finance team monitors the finances by tracking expenses, income and giving trends, and assess our ability to meet budget goals.  They are responsible for making recommendations to the church board about current financial issues and proposing the annual budget.

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Tracking Your Contribution

• Receiving: After receiving your offerings two ushers count it and secure it in the church safe. 

• Recording: At the first of the week the financial secretary recounts the offerings and enters the appropriate information on the church computer and makes the deposit.

• Reporting: The pastors and elders receive a general financial accounting weekly. Each month the Church Board receives a detailed treasurer’s report. The Annual Church Report contains an itemized statement of income, expenses and budget projections.

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Church Treasurer

• The job of the church treasurer is to manage the financial transactions. of the church.  The treasurer writes checks, advises the pastoral staff and the church board, does tax payments, oversees the end of the year donor receipts, and provides monthly and yearly financial reports.

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Church Funds

• General: This fund covers such things as ministry, staff, office, programming, and benevolence expenses.

• Mission: Foreign missions, home missions, and Christian organizations are included in this category.

• Building: The church mortgage and capital improvements are paid through this fund.

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Mortgage

• Because of the wisdom and the sacrifices of many throughout its 40 year history,  Berean is in a solid financial situation.  We currently have a about a $230,000 mortgage on properties that are valued at about 1.5 million. 

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Designated Giving

• Some people prefer to designate giving to special projects or individuals.  For example each year extra funds are directed to assist our young people going on a summer missions trip. To comply with IRS rulings it is important for you to know that to provide tax-deductible receipts, a not-for-profit organization has to demonstrate control of the funds that they receive and receipt. One way this is done is to regularly  authorize a list of eligible recipients for funds. Another demonstration of control is involved in the timing of when funds will be dispersed.  Our  goal is to do it in a timely fashion, usually at the first of the month after the gift was received. If a person who designates a gift to an individual receives a tax deductible receipt then the recipient of the gift has to pay taxes on the gift.  If the giver does not receive a tax deduction then the recipient doesn’t pay taxes.

• When you want to designate to a special fund, project, or person it is your responsibility to clearly attach a notation to your gift.  This can be done on a separate piece of paper, on your check, or on your offering envelope.  Always clearly indicate your desire for your gift.  Include specifics such as your name, the project name, the amount designated to the project, the amount that is for your general giving, etc. Never assume that because you have given in a certain pattern that the office personnel can remember your habits.  Every gift has to be clearly marked.  If you have questions about a specific designated gift or your giving in general please feel free to contact the church office.

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Donated Items

• When a tax receipt is desired for a donated item a reputable authority must assess the real value of the item. Based on this assessment a tax receipt is then issued.

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Year End Giving

• End of the year giving is an important element in our church finances. Remember that these gifts have to be postmarked or received in the office by December 31st to be receipted for that year's giving.

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