INUMC Year End Information
INUMC Year End Information
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Published December 31, 2013
(this is an auto‐run presentation)
Physical Office Address: Indiana Annual Conference 301 Pennsylvania Pkwy, Suite 300 Indianapolis, IN 46280 877‐781‐6706 Office Hours M‐F 8:30‐4:30
Tithe Remittance Address: INUMC Dept. 6089 Carol Stream, IL 60122‐6089 Use this address for ALL Giving!
Address Information
The Conference is asking for a minimum of a 10% tithe of undesignated income and your district support is a % of this same income figure. Specifically, below are the guidelines we passed as an Annual Conference in June, 2011 for what is to be included in that calculation. 1. 2. 3. 4. 5.
Income from identified and unidentified contributors. Pledged or unpledged income. Undesignated interest and dividend income. Income received from building use fees. Income received from fundraisers and programs in support of the operating budget.
Income from capital campaigns, pass‐through giving and tuition‐based ministries is not included in the tithing calculation.
Calculating Tithe
North District
1%
Northeast District
1%
Northwest District
1%
North Central District
1%
Central District
1.5%
East District
1%
South District
1.5%
Southeast District
1.25%
Southwest District
1.2%
West District
1.45%
2014 District Percentages
In box 1 put Gross cash salary – Less Personal portion of health insurance Flex Spending withholding Pre‐tax UMPIP contributions withheld Housing or parsonage exclusion
Preparing W2s
Boxes 3, 4, 5, and 6 should be 0s for clergy
Preparing W2s
Box 12a is where Employer AND Employee portion of health insurance premiums are reported with code DD
Preparing W2s
Also check the box for Retirement plan Box 12b is where pretax UMPIP contributions go with code E
Preparing W2s
ʺHousing Exclusionʺ or ʺParsonage Exclusionʺ amount is reported in Box 14 for informational purpose
Preparing W2s
Include all gross salaries here less: * clergy housing/parsonage exclusion for qtr * flex spending withholding * pre‐tax UMPIP contributions withheld * personal portion of health ins withheld
Quarterly 941 Filing
No clergy wages should appear in #5
Quarterly 941 Filing
Deadline for prior year tithe payments
4th Quarter Form 941 W‐2’s to employees 1099’s to independent contractors
Important Dates –
W‐3’s, W‐2’s to IRS WH‐3’s to IN Dept of Revenue
st 1
Qtr
1st Qtr 941 Form Form NP20 to IN Dept of Revenue, Property Tax Exemptions to local Assessorʹs office (if changes) Personal Property Tax Forms to Local Assessor’s office Local Church Audit form to Conference Center
Important Dates –
nd 2
Qtr
2nd Qtr 941 Form
3rd Qtr 941 Form
Important Dates –
rd th 3 /4
Qtrs
www.inumc.org www.gcfa.org www.bcbsil.com www.umcgiving.org www.umcmission.org www.irs.gov
www.in.gov/dor www.gbophb.org
Useful Websites
Jennifer Gallagher, Director of Financial Services Tax questions, Church financial visits
Heidi Harding, Controller Year End Reporting, 941 & W2 questions, ROG
Elsie Miller, Database Administrator Address changes
Anne Hayton, Financial Services/Pension Clerk Pension questions
Linda Eskew, Insurance Clerk Insurance questions
Diana Barnett, Financial Services Clerk Accounts Payable
Emily Burkhart, Financial Services Clerk/Camp Registrar Camp registrations, Deposits
Jenni Walker, Financial Services Clerk Moving information
Financial Services Contacts
For questions, comments, or suggestions on this presentation please contact Heidi Harding at the Conference Center. [email protected] You can also download a hard copy on the INUMC website under the Finance section.
{
Published December 31, 2013
(this is an auto‐run presentation)
Physical Office Address: Indiana Annual Conference 301 Pennsylvania Pkwy, Suite 300 Indianapolis, IN 46280 877‐781‐6706 Office Hours M‐F 8:30‐4:30
Tithe Remittance Address: INUMC Dept. 6089 Carol Stream, IL 60122‐6089 Use this address for ALL Giving!
Address Information
The Conference is asking for a minimum of a 10% tithe of undesignated income and your district support is a % of this same income figure. Specifically, below are the guidelines we passed as an Annual Conference in June, 2011 for what is to be included in that calculation. 1. 2. 3. 4. 5.
Income from identified and unidentified contributors. Pledged or unpledged income. Undesignated interest and dividend income. Income received from building use fees. Income received from fundraisers and programs in support of the operating budget.
Income from capital campaigns, pass‐through giving and tuition‐based ministries is not included in the tithing calculation.
Calculating Tithe
North District
1%
Northeast District
1%
Northwest District
1%
North Central District
1%
Central District
1.5%
East District
1%
South District
1.5%
Southeast District
1.25%
Southwest District
1.2%
West District
1.45%
2014 District Percentages
In box 1 put Gross cash salary – Less Personal portion of health insurance Flex Spending withholding Pre‐tax UMPIP contributions withheld Housing or parsonage exclusion
Preparing W2s
Boxes 3, 4, 5, and 6 should be 0s for clergy
Preparing W2s
Box 12a is where Employer AND Employee portion of health insurance premiums are reported with code DD
Preparing W2s
Also check the box for Retirement plan Box 12b is where pretax UMPIP contributions go with code E
Preparing W2s
ʺHousing Exclusionʺ or ʺParsonage Exclusionʺ amount is reported in Box 14 for informational purpose
Preparing W2s
Include all gross salaries here less: * clergy housing/parsonage exclusion for qtr * flex spending withholding * pre‐tax UMPIP contributions withheld * personal portion of health ins withheld
Quarterly 941 Filing
No clergy wages should appear in #5
Quarterly 941 Filing
Deadline for prior year tithe payments
4th Quarter Form 941 W‐2’s to employees 1099’s to independent contractors
Important Dates –
W‐3’s, W‐2’s to IRS WH‐3’s to IN Dept of Revenue
st 1
Qtr
1st Qtr 941 Form Form NP20 to IN Dept of Revenue, Property Tax Exemptions to local Assessorʹs office (if changes) Personal Property Tax Forms to Local Assessor’s office Local Church Audit form to Conference Center
Important Dates –
nd 2
Qtr
2nd Qtr 941 Form
3rd Qtr 941 Form
Important Dates –
rd th 3 /4
Qtrs
www.inumc.org www.gcfa.org www.bcbsil.com www.umcgiving.org www.umcmission.org www.irs.gov
www.in.gov/dor www.gbophb.org
Useful Websites
Jennifer Gallagher, Director of Financial Services Tax questions, Church financial visits
Heidi Harding, Controller Year End Reporting, 941 & W2 questions, ROG
Elsie Miller, Database Administrator Address changes
Anne Hayton, Financial Services/Pension Clerk Pension questions
Linda Eskew, Insurance Clerk Insurance questions
Diana Barnett, Financial Services Clerk Accounts Payable
Emily Burkhart, Financial Services Clerk/Camp Registrar Camp registrations, Deposits
Jenni Walker, Financial Services Clerk Moving information
Financial Services Contacts
For questions, comments, or suggestions on this presentation please contact Heidi Harding at the Conference Center. [email protected] You can also download a hard copy on the INUMC website under the Finance section.
