Financial Policies (original) (raw)

It is our policy at IncandEssence to be completely open about the usage of all funds donated to the ministry. The allocation of donations is simple, and is described below.

Half of each donation will go to funding our community programs for the celebration and empowerment of diversity. A donor can request that these funds be donated to particular programs, or the funds may be split equally between all current programs at the time of the donation.

The other half of each donation will be allocated to covering the expenses of operating the ministry, including the expenses associated with the process of growing the ministry into a church. No more than half of this expense budget (and thus no more than one quarter of all donations) may be allocated for the compensation of clergy, staff, and/or board members for their work with the ministry. At present, I am the only staff member, and initially my maximum compensation per month shall be no more than 2000,andthatonlywhenthebudgetpermits.Forthefirstfullcalendarmonthofoperations,Ipledgetoacceptnomorethan2000, and that only when the budget permits. For the first full calendar month of operations, I pledge to accept no more than 2000,andthatonlywhenthebudgetpermits.Forthefirstfullcalendarmonthofoperations,Ipledgetoacceptnomorethan750 in personal compensation for my ministry work, in the interest of promoting the swift growth of this organization.

Regular weekly, monthly, quarterly and annual financial reports will be posted for full public review, and all church income and expenditures will be documented.

It is important to note that the ministry has not yet received tax-exempt status, and so at this time donations to the ministry are not yet tax-deductible. One of our first priorities is to attain official tax-exempt status.

Any changes in tax status and donation policies will be immediately announced, and we will always be happy to answer any question you may have about these issues.

Together, we can help every light shine. Thank you for your interest in supporting IncandEssence.