Financial Services & Support

The Church Treasurer’s Role is an excerpt from the Church Management Guidebook, a publication of the Support Ministries Team at the Baptist General Association of Virginia. Please Note: This publication is intended to provide a timely, accurate, and authoritative discussion of the position of Church Treasurer. It is not intended to be an exhaustive discussion of all items relating to the position of the church treasurer. It is also not intended as a substitute for legal, accounting, or other professional advice. If legal, tax or other expert assistance is required the services of a competent professional should be sought. Although we believe this document provides accurate information, there may be changes resulting from IRS or judicial interpretations of the Tax Code, new tax regulations, or technical corrections that occurred after the printing of this book that are not reflected in the text.

The 2018 Compensation Study is available for use by churches and church staff in compensation planning. The 2018 study was a joint project of state Baptist conventions, Lifeway Christian Resources and GuideStone Financial Resources.

Compensation and congregational data was collected anonymously from ministers and office/custodial personnel of Southern Baptist churches and church-type missions. Reports are based on compensation for over 12,000 respondents from all 42 state conventions. While this data is made available with respect for the autonomy of each local church, the information can help a church be objective in considering appropriate staff compensation. All amounts are annual amounts based on 2018 compensation. Cost of living adjustments should be made when using the data in subsequent years.   

Providing adequate insurance protection for church employees is a constant challenge for BGAV churches and associations. The primary sources for BGAV church employees insurance needs are GuideStone, SBC and the Church Benefits Board, CBF. Please visit the web sites of these two boards to learn about their insurance plans. Occasionally, church employees are unable to use the services of either GuideStone or Church Benefits Board medical insurance plans. For alternative sources of medical coverage or help with other insurance questions contact us!

Using a comprehensive approach to compensation planning will insure that the church’s financial support resources are maximized and that church employees have the support they need to be freed for empowered ministry. One of the best tools for compensation planning for church employees is available on the GuideStone Financial Resources, SBC web site. This booklet can be viewed online, printed, or downloaded in pdf format. The booklet may also be requested by mail by calling GuideStone at 1-888-984-8433.

The Compensation Planning Specialist can provide information, consultations, and resources on church retirement plans and compensation planning using GuideStone Financial Resources, SBC; the Church Benefits Board, CBF; or other providers. BGAV church employees typically use one of two providers for their retirement preparation, GuideStone, SBC or the Church Benefits Board, CBF. Information may also be requested by mail by calling GuideStone at 1-888-984-8433. This office can also provide information and referral for those needing the resources of the Church Benefits Board, CBF. Information is also available by visiting the Church Benefits Board web site. Supporting events can be found on our Retirement Planning Seminars and Conferences page.

The Compensation Planning Specialist can provide information, consultations, and resources to assist churches in creating a salary package for church staff.

The Compensation Planning Specialist can provide information, consultations, and resources to help church staff and lay leaders understand and comply with tax laws relating to churches and church staff. Structuring church employee’s compensation properly according to IRS guidelines results in a lower tax liability and compliance with IRS regulations. One of the best resources for handling minister’s taxes and church tax reporting requirements is the annual Minister’s Tax Guide published by GuideStone, SBC. The 2018 version is now available. The guide may also be requested by mail by calling GuideStone at 1-888-984-8433. Our team is available to assist with your tax questions as well. Several C.P.A. consultants around the state who are knowledgeable about church and clergy taxes assist Virginia Baptists as well.

Beginning January 1, 2014, the Affordable Care Act (ACA) mandated new rules around how employers can assist employees with the cost of health care coverage through reimbursement vehicles such as employer payment plans, health reimbursement arrangements (HRAs) and Section 125 plans including premium-only cafeteria plans (POPs) and flexible spending accounts (FSAs).

Information on Healthcare Reform is available at http://www.guidestoneinsurance.org/HealthcareReform2.

Jeff Cranford, BGAV Minister in Residence for Church Finances, can provide information, consultations, and resources to help church staff and lay leaders understand and comply with the provisions of Healthcare Reform.