Questions:
A missionary is going to be serving with a recognized U.S. missions organization. His home church is willing to receive funds from donors and then disburse them to him. What is the best way for the missionary’s home church to do this?
Answer:
Once the church has communicated its endorsement of a missionary, it will naturally encourage donors to contribute to his support. The checks to support him need to be made payable to the church and accountable to its control. The church then will disburse the funds. It is strongly recommended that the church dispense the funds directly to the missionary’s mission agency. The agency will handle all tax related issues and the church will have no further reporting requirements.
The members of my Federal Taxation I class at Maranatha Baptist Bible College in Watertown, Wisconsin have taken on the challenge of study and research to answer posted questions. Mariya Bondarenko of Minnesota gets credit for this one.
A missionary is going to be serving with a recognized U.S. missions organization. His home church is willing to receive funds from donors and then disburse them to him. What is the best way for the missionary’s home church to do this?
Answer:
Once the church has communicated its endorsement of a missionary, it will naturally encourage donors to contribute to his support. The checks to support him need to be made payable to the church and accountable to its control. The church then will disburse the funds. It is strongly recommended that the church dispense the funds directly to the missionary’s mission agency. The agency will handle all tax related issues and the church will have no further reporting requirements.
The members of my Federal Taxation I class at Maranatha Baptist Bible College in Watertown, Wisconsin have taken on the challenge of study and research to answer posted questions. Mariya Bondarenko of Minnesota gets credit for this one.
Comments
Post a Comment