Our clients benefit from our in-depth knowledge of the unique challenges faced by religious organizations. Each year, we spend hours researching the latest tax laws and regulations that will impact our non-profit clients, including churches, synagogues and mosques, church schools and church daycares, and other religious-based organisations.
Most labor and employment laws apply to churches just as they do to other non-profit organizations. This includes guidelines for classifying employees and independent contractors as workers.
Laying all that aside....another important reason for keeping books...is to make good financial decisions. You need to be able to pull up a report and see that you are spending more on expenses than you were in prior years.
Many churches and charities are struggling to get by on limited funds. Nonprofits will save valuable time, stress, resources, and money by outsourcing their financial operations. Spending time on finances as the head of your non-profit is time that could have been spent helping others, growing your donor base and expanding your organization.
We know. You didn’t enter ministry to become an accounting professional. You are a church leader because you want to make disciples and share Jesus Christ's good news.
Our experts will ensure all information is accurate and up-to-date. Let us do the heavy lifting so you can get on with your mission.
Our experienced not-for-profit tax advisers have many years of experience working with churches, synagogues, church schools and other faith-based organizations to help minimized their taxes and protect their tax exempt status.
Diocesan Canons state that treasurers and other officers of a church parish, mission or other institution be “bonded” according to Episcopal Church Canons. Episcopal Church Canons require that treasurers be “adequately bonded.”
Churches call the traditional balance sheet a statement of financial position. It uses the accounting equation “Assets = Liabilities + Equity” to show a snapshot of your organization's financial health. It also shows the current balance of each of your funds if you've been implementing fund accounting for your church.
The IRS may begin a church tax inquiry only if an appropriate high-level Treasury official reasonably believes, based on a written statement of the facts and circumstances, that the organization: (a) may not qualify for the exemption; or (b) may not be paying tax on unrelated business or other taxable activity.
Working in church accounting, you share the same responsibilities as an accountant in any other organization. You record expenses, track contributions made by the congregation, and monitor spending on various programs. Your duties center around bookkeeping, documenting and controlling finances for a church.