News & Stories
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Faith and Money: Online Shopping & The UMC Market
We are nearing time for holiday shopping and we would like to encourage you to check out the UMC Market (umcmarket.org). This is a service available through the General Council on Finance and Administration’s Corporate Sponsorships Office that will partner corporate non-profit support programs with your local church. Online shoppers open an account (it takes… Continue Reading→
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Faith and Money: Proposed Changes to Overtime Regulations
You may have heard on the news recently that the Department of Labor has proposed changes to overtime regulations under the Fair Labor Standards Act. Some of the proposed changes include an increase to the salary limit for being considered an exempt employee and some changes in flexibility allowed with work schedules for many employees.… Continue Reading→
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Faith and Money: 2014 Connectional Giving
We are thankful for the continuing evidence of God’s abundant blessings in the NC Conference. The Conference Treasurer’s Office has closed out the 2014 apportionment year and is happy to report 91.88% of the budget apportioned during 2014 was received from local churches. Out of 788 churches receiving apportionments, 82% of them (648) paid 100%… Continue Reading→
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Faith and Money: Employer Payments for Medical Coverage
The General Board of Pension and Health Benefits has issued guidance for churches concerning the tax consequences of payments for medical coverage for employees that are not part of an employer group plan. Effective January 1, 2014, direct reimbursement or payments made directly to an insurance or medical care provider for an individual health insurance… Continue Reading→
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Faith and Money: Health Care Tax Credit Refunds Still Available
The Affordable Care Act offered non-profits up to a 25% refund of healthcare expenses incurred on behalf of clergy and lay employees. Many of our churches have filed for all of their refunds yet many outstanding claims still exist. Outstanding claims can still be filed and change money from the US Treasury to funds for… Continue Reading→
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Faith and Money: Tax Reminders
It is a busy time for church treasurers in January as you begin preparing for tax reporting this month. This is a reminder of a few helpful hints for you at this time of year: Pastors and employees of churches should receive a W-2 reporting their taxable wages on or before Jan. 31. Pastors receive… Continue Reading→
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Faith and Money: Clergy Housing Allowance Ruling
On November 21, 2013, a federal district court judge in Madison, Wisconsin held that a portion of Section 107 of the tax code is unconstitutional. Specifically, it was the portion of the tax code that allows cash housing allowances paid to clergy to be exempt from federal income tax. This ruling has the potential to… Continue Reading→
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Faith and Money: UMC #GivingTuesday
A great opportunity to support the ministry or mission that God has led you to is coming up on Tuesday, December 3, 2013. On that day, donations given through the UMCmission.org website for general advance specials will be matched dollar for dollar up to $500,000 for the day! This is a great opportunity to generate… Continue Reading→
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Faith and Money: Health Care Reform 101
There is a lot of talk lately about the upcoming implementation of some of the first phases of health care reform. No matter which side of the political spectrum you find yourself, it is important to be informed about the issues. I ran across a video tutorial about health care reform from BCBSNC that I… Continue Reading→

