Finances  FM CHURCH Financial Information & Resources

 

 

MAINTAINING THE CHURCH NON-FOR-PROFIT STATUS

 

FM Guidelines FOR Starting & Maintaining a New Church IN INDIANA OR ILLINOIS

 

TREASURER RESPONSIBILITIES

 

WABASH RELIEF FUND APPLICATION


Year-end Deadlines & Information

 

Guidelines for preparing Required Contribution Statements, 1099 and W-2 forms, 

Preparing Pastor's W-2

 

If filing manually, please see: https://www.ssa.gov/bso/bsowelcome.htm

 

PASTORS VS EMPLOYEE VS SUBCONTRACTOR

 

 

The IRS mileage rate for 2022 business use is 58.5 cents.  The church BOA may elect any amount up to the IRS rate.  Anything over the IRS rate would be taxable to the receipient. The Conference chooses to allow 20 cents less than the IRS rate.  For additional information, click here: IRS Mileage

 

 

POLICY FOR COUNTING CHURCH FUNDS

There must be documentation by the counters of funds for the church treasurer!  There should be at least 2 counters at all times.   If the church doesn't already have 2 counters in place AND a form to document the receipt of funds, this will help you.  This

practice protects the church and everyone involved.

 

Below are samples reports for counters to use each week (an Excel version and a pdf format).  If you don't already have a system in place and a form to use, feel free to use whichever format works best for you and customize it for your church's needs.  In interest of time for the counters, the treasurer may wish to list names of regular givers on a "master" page and save it on a computer.  You may wish to create more than one page if necessary.    Sample Log Sheets for Church Counters (Excel version)

Sample Log Sheets for Church Counters (pdf version)

 

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obligations to FMCUSA and wabash conference ​​
Church obligations (fmcusa e.p.p., wabash apportionment & life, ltd and ad&d insurance) are due MONTHLY to the conference office by the 10th of the month following the month's activity. 

 

FMCUSA EQUAL PARTICIPATION PLAN (E.P.P.)

Equal Participate Plan (E.P.P.) helps pay for FM Communications, Board of Bishops, Administration and World Ministries Center operations, Ministerial Scholarships and Grants, Financial Services for the Home Ministries and World Missions, FM Networks, General Conference, Human Resources, Ministerial Credentialing Services, Marston Memorial Historical Center, Board of Administration & Chaplaincy (just to name a few).

 

E.P.P. is based on each local church's annual report (income from the past 12 months less allowable deductions) and is passed on to each local church.  These dollars are paid to FMCUSA by Wabash and each church is to reimburse the Conference (1/12 of the annual  on a monthly basis).  For more details, click here:   FMCUSA EPP HANDOUT   

 

Wabash apportionment (formerly called wabash Ministries Budget Share) has been lowered to 6.8% effective with the january 2022 report (due february 10)

monthly remittance reports are no longer due ~ please see below for the church amountS due.

 

 

Life, Long Term Disability and AD&D Insurance 

All Wabash full-time pastors are to participate in these benefits.  The current premium is $32 per month and is paid by the church to the Conference office in ADVANCE of the coverage.

 

 

WABASH Apportionment & EPP church obligations are as follows:  2022 Apportionment, EPP & Insurance Amounts 

 

If you wish to have the funds drawn from the church bank account, complete the following and return to the Conference office, click here:  ACH Form

 

Please note: if funds are limited, partial payments are expected.  Remember that the Conference pays all church's E.P.P. obligations and Life Insurance premiums regardless if paid by the church.  If the obligations are a struggle for the church, PLEASE contact Jody at wabashfinance@aol.com

 

 

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fmcusa annual report

Due annually in January of each year.  For more information, click here: http://fmcusa.org/login 

 

 

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Free Methodist World Missions 

Local Church Commitments are to be entered for World Missions each year. Missionaries cannot go into the field until their missions goal is met, so please let the World Missions Department know what your church’s commitment for the year is. For the form Click here or go to http://fmcusa.org/fmmissions/partner-in-ministry-through-commitments/

 

World Missions funds are to be sent directly to Free Methodist World Missions. (This does NOT apply to FMCUSA Home Ministry Obligations/EPP that are to be sent to the Wabash Conference office.)  For additional information, click here:  Missions Connect

Pension 

Updated salary information is needed from each church anytime there is a change in pastor's salary.   Click here for Change of Status form:  https://hr.fmcusa.org/forms

 

The pension rate is currently 13.5%.  Funds are to sent to FMCUSA HR via ACH. There is an additional fee if not paid by ACH. For more information see:

Pastoral Salaries & Benefits


Wabash Conference Check Request Forms & Other Information

Check Request Form - pdf (Manual form for printing)
Check Request Form - Excel(Excel format for typing)
Committee Travel Expense Report (Excel format for typing)

 


For additional forms & information, please see the following: