Financial Resources

 

Budget Planning in Your Faith Community

2015 Mission and Ministry Support (MMS) formula: Faith communities with Line A Revenue from their 2013 Parochial Report of $300,000 or more will be assessed at the rate of 13.0% of Line A. Faith communities with Line A Revenue from their 2013 Parochial Report of less than $300,000 will be assessed at the rate of 11.0% of Line A. 

MMS Calculator
Automatic Payment Request Form
Compensation and Benefits Guidelines for Clergy and Lay Employees 

Self-Employment Tax Allowance: Priests are self-employed for Social Security tax purposes. This means the priest is responsible for paying self-employment tax, which is assessed at 15.3% rate. Minnesota Canon 612(a) passed by the Convention in October 2000 requires each church to pay a self-employment tax allowance of at least half (50%) of the priest’s self-employment tax. This is calculated by multiplying total compensation by 1.0765and then multiplying the result by the Social Security allowance percentage of .0765.

For self-employment (a.k.a. social security) tax purposes, total wages includes: the salary, housing, utility, and/or rectory allowances, the social security allowance, and any travel, education or other allowances paid to the priest under a non-accountable plan; a priest must also add in the fair market value of a rectory provided, if any, to the total salary amount.

[Example: Salary ($50,000) plus Housing ($10,000) = Subtotal Wages ($60,000) x .0765 = Self-employment taxes paid by church to clergy ($4,590).

In this example, actual payroll would read as follows: Gross Wages of $50,000, Housing Allowance of $10,000 and SECA Allowance (self-employment tax) of $4,590]

Note: Episcopal priests do not qualify for an exemption from Social Security taxes. The Episcopal Church has determined that there is no theological basis to support a priest’s election to opt out of the Social Security System. A decision to opt out of Social Security is generally irrevocable and signing a Form 4361 may be deemed an act of perjury.

Funds Accounting Form
ECMN Reimbursement Request

Financial Resources for Clergy

Clergy Housing Allowance Worksheet
Clergy Compensation Calculator
Financial Planning and Tax Information for Clergy and Lay Employees

Audit Information

ECMN Audit/Financial Review Program (PDF)
ECMN Audit/Financial Review Program (Excel)
Manual of Business Methods in Church Affairs
Audits – Canon 702.4

2016 Council Audit
2016 Trustee Audit 
2015 Council Audit
2015 Trustee Audit 
2014 Council Audit
2014 Trustee Audit 
2013 Council Audit 
2013 Trustee Audit 
2012 Council Audit
2012 Trustee Audit 

 

Financial Statements of Mission

2017 Triennial Financial Statement of Mission - OPERATIONS ROLL UP
2017 Financial Statement of Mission - OPERATIONS NARRATIVE
2017 Financial Statement of Mission - OPERATIONS DETAIL
2017 Financial Statement of Mission - TRUSTEE DETAIL

2016 ECMN DRAFT Triennial Financial Statement of Mission Roll Up for Operations
2016 Financial Statement of Mission - Operations Detail
2016 Financial Statement of Mission - Trustees
2016 Financial Statement of Mission - Operations Narrative

Pooled Investment Fund

The Pooled Investment Fund (PIF) is your Episcopal vehicle for enhancing the power of your church’s assets. Established and managed by the Trustees, this fund can provide a faith community, mission or organization with low-cost, reasonably safe, competitive returns on your investments.