P.T.H. Ministries OF Jesus Christ inc.
Transparency Of PTH Ministries of Jesus Christ inc.
In the context of P.T.H. Ministries of Jesus Christ inc transparency, there are two important components. The first is that the Ministry’s finances shall be transparent, permitting congregants and Donors to see details about how their donations are spent, and the second is that the Ministry be governed in a transparent fashion such that the congregation and Donor will understand how and why decisions are made.
Financial transparency means more than having an annual meeting where the pastor throws up some power point slides with pie charts. True financial transparency means that the congregation and Donor is provided with meaningful financial information. For instance, the congregation should be given a detailed budget that includes specific expenditures such as salaries, gifts to other organizations, building expenses, etc. Other tax-exempt organizations are required by law to provide this information, and donors access it when making decisions about where to give.
One additional benefit of financial transparency is that it will lead to more conversations about money. As Christians, we tend to treat money as taboo, and the way it is handled in churches only exacerbates this problem. In fact, Christians are less willing to talk about personal finances than they are about sex. As a result, we are unable to ask each other important questions about stewardship or to hold each other accountable for how we spend the money God has entrusted to us. Financial transparency at churches would begin an important dialogue about the role money plays in our lives.
Transparency in governance means that congregations and donors understand how and why decisions are made. It requires clear and open communication.
Anyone who has been attending churches has witnessed the problems that a lack of transparency in governance decisions can cause.
One Sunday morning an announcement is made: “The church has decided that we are going to [fill in the blank].” Many Congregations and Donors seem surprised, glancing at their neighbors with a bewildered look. They had heard some talk about [fill in the blank], but there had been no formal meeting to discuss it, or other attempt at democratic input had been made. How, then, could “the church” have decided on this course of action? The inevitable result of such closed-door decision making is that the Donors and congregations are left feeling slightly resentful rather than on board with the new Ministries initiative.
Financial transparency is an essential component of good stewardship of PTH Ministries of Jesus Christ inc and an effective way to minimize the temptation of greed. We believe PTH Ministries of Jesus Christ inc, must be be Transparent to our congregation and our faithful and loving Donors that fully support this Ministries. Below are a number of specific bylaws for how PTH Ministries of Jesus Christ shell operate and be in compliance at all times for our financial transparency. These principles are based on recommendations by leading advisory organizations, including the Evangelical Council for Financial Accountability, Independent Sector’s Panel on the Nonprofit Sector, and two of the most influential state associations of nonprofits.
1. PTH Ministries of Jesus Christ inc will voluntarily abide by the same laws and IRS rules that govern all other tax-exempt organizations.
a. All other tax-exempt organizations are required to file Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code; and Form 990, Return of Organization Exempt from Income Tax.
b. The law requires that those forms to be made available to the public, which is the most significant element of financial transparency imposed on tax-exempt organizations – an element that, unfortunately, does not apply to churches.
Although churches … aren’t legally required to make financial statements available, they are morally obligated to do so. Private companies have some allowances for being opaque. Nonprofits receiving tax breaks and other public benefits do not.
PTH Ministries of Jesus Christ inc stands for Public disclosure that will protect this Christian ministry from the danger of claiming ownership of God’s gifts. It also will protect our Entrusted leaders from the temptation to acquire assets as their lasting goal. Furthermore, the availability of financial statements promotes responsible Christian stewardship over assets as donors seek to make monetary investments in the work of the Kingdom. Simply put, PTH Ministries of Jesus Christ will provide current financial statements to anyone who submits a written request for them because it is the right thing to do.
2. PTH Ministries of Jesus Christ inc shall provide financial information, including annual financial reports, and answer questions regarding finances asked by any donor or church member.
a. Annual financial reports for PTH Ministries of Jesus Christ inc need not be elaborate but shall provide meaningful insight into the Ministry’s finances so that donors can see how their money was spent.
b. Donors should be encouraged to ask questions and responses will be forthcoming.
3. PTH Ministries of Jesus Christ inc shall explain how compensation is set for the pastor and employees, and it should provide compensation data to the congregation and Donors.
a. PTH Ministries of Jesus Christ inc, like other tax-exempt organizations, are prohibited by law from paying more than reasonable compensation for services. For that reason, PTH Ministries of Jesus Christ inc shall carefully adhere to IRS guidance in setting compensation. Doing so usually requires that the compensation paid be no more than that paid at similar organizations.
b. All other tax-exempt organizations are required to disclose salaries paid to officers on their Forms 990, which is important information for donors evaluating how well a charity stewards its resources. PTH Ministries of Jesus Christ inc see no reason why it should be exempt from this requirement.
3. PTH Ministries of Jesus Christ have written policies and procedures regarding reimbursement of expenses. These procedures should include a sound system of checks and balances to minimize opportunities for theft or embezzlement.
a. Policies are articulate what expenses are reimbursable and will ensure that those policies conform with the law and IRS regulations.
b. Procedures shall include a requirement for receipts and will ensure that the individual requesting reimbursement is separate from the individual approving it.
4. PTH Ministry financial statements shall regularly audited and will make the results of those audits available to the congregation and Donors.
a. annual audits shall be conducted.
5. PTH Ministries of Jesus Christ has adopt a conflict of interest policy..
a. Conflicts of interest occur when a board member or pastor is in a position where his or her ethical duties to PTH Ministries of Jesus Christ inc may be compromised by his or her personal interests. For instance, such a situation may arise when considering whether to hire a relative or contract for services with a company owned by a family member.
b. When conflicts of interest occur, it is important that the conflict—or potential conflict, or the appearance of conflict—be disclosed to the Ministry members and that the conflicted individual recuse himself or herself from all deliberations relating to the conflict.