Faith Presbyterian Church
FAITH PRESBYTERIAN CHURCH
Gift Policy Questions
01. Why is it important to have an account number and include it with ALL of your gifts to the Church?
Doing so saves your volunteer recording secretary a lot of time.
It greatly improves accuracy (handwriting is difficult to read, people have similar names, etc).
Even if you do not use the account information for your personal taxes, the Church may need the information in the unlikely event of a Church audit, to prove
your gift intention.
02. Is there any obligation involved in having an account number or church envelopes
None whatsoever except that you include it with ALL of your gifts given to the Church.
You do not need to be a member or have pledged to have an account with Faith Church. However, if you have pledged, it is important that you meet your pledge
obligation so that the Church can meet its obligations.
03. Is my account information private?
Only two current members of the Financial Committee may review account information for the purpose of monitoring cash flow. Committee family members are
NOT permitted to see account information.
NO ONE may monitor your account for the purpose of comparing who is giving the most or least, etc.
NO ONE may monitor your account to see if you are meeting your pledge obligation (although the Church hopes that you will). Faith Presbyterian Church is
committed to the highest standards with regard to your account privacy.
04. If I give a “Material Gift” to the Church such as food, flowers, furniture, etc., can I receive credit for the gift?
Yes. If you include your account number with the gift, credit will be given as “Other Contributions” on your statement.
If possible, turn in a receipt with your gift, otherwise you must declare the value of your gift.
You are given credit for the gift and its fair value based on good faith.
05. When are contributions credited to my account?
Contributions are recorded on the current Sunday, regardless of the date indicated on your envelope or check.
Contributions received during the week will be credited on the following Sunday.
See the special situations below for gifts given at the end of the year.
06. What happens if my last gifts for this year are received late?
You will receive credit for the current year up until the FIRST Sunday of the new year. After that, it becomes impractical to keep a double set of books open for
07. Can I pay all or part of my pledge for NEXT year and receive tax credit for THIS year? NO!
Credit MUST be given for the tax year in which the funds are received.
08. Can I receive back credit for gifts given to the Church before I had my account number?
No. It is very difficult to track gifts without an account number.
It is important to establish an account number as soon as possible. Again, there is no obligation for having an account with Faith Church.
09. What are the “Other Contributions” shown on my statement?
These are contributions that are NOT part of your pledge to the monetary operating budget of the Church. Examples include: material gifts, flowers, charitable
contributions, food pantry, special funds, etc.
10. May I use ALL of my contributions for tax purposes?
In general, yes. The total of your PLEDGE + OTHER CONTRIBUTIONS may be used.
There are always special situations such as the value of books or flowers, etc., that you may have received back from the Church.
The Church cannot take on the role of Tax Attorney for each and every contributor, so if you have any doubts or questions, it is best to consult your own tax
attorney concerning your special situation.
11. What are the general responsibilities of the Recording Secretary
To count the money and gifts as they are received each week.
To maintain records for all of the categories of income and gifts given to the Church.
To provide a statement of income to the Church staff each week.
To provide individual account totals to the general membership twice a year.
To provide individual account information to account holder upon request, at any time.
REV 1/13/2011 pg