{ inumc year end information published december 19, 2014 (this is an auto-run presentation)
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{
INUMC Year End
InformationPublished December 19, 2014
(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
Calculating Tithe
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. Income from identified and unidentified contributors. 2. Pledged or unpledged income. 3. Undesignated interest and dividend income. 4. Income received from building use fees. 5. 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.
2015 District Percentages
North District 1%
Northeast District 1%
Northwest District 1%
North Central District 1%
Central District 1.5%
East District 1.15%
South District 1.5%
Southeast District 1.25%
Southwest District 1.2%
West District 1.45%
Preparing W2s
In box 1 put Gross cash salary – Less Personal portion of health insuranceFlex Spending withholdingPre-tax UMPIP contributions withheldHousing 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
Box 12b is where pretax UMPIPcontributions go with code E
Also check thebox for Retirement plan
Preparing W2s
"Housing Exclusion" or "Parsonage Exclusion" amount is reported in Box 14 for informational purpose
Quarterly 941 Filing
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
Important Dates – 1st Qtr
Deadline for prioryear tithe payments
4th Quarter Form 941W-2’s to employees 1099’s to independent contractors
W-3’s, W-2’s to IRS WH-3’s to IN Dept of Revenue
Important Dates – 2nd Qtr
1st Qtr 941 Form
Form NP20 to IN Dept of Revenue, Property Tax Exemptions to local Assessor's office (if changes) Personal Property Tax Forms to Local Assessor’s office
Local Church Audit form to Conference Center
Important Dates – 3rd/4th Qtrs
2nd Qtr 941 Form
3rd Qtr 941 Form
Useful Websites
www.gcfa.orgwww.inumc.org
www.irs.gov www.gbophb.org
www.in.gov/dor
www.bcbsil.com
www.umcmission.org
www.umcgiving.org
Jennifer Gallagher, Director of Financial ServicesTax questions, Church financial visits
Heidi Harding, ControllerYear End Reporting, 941 & W2 questions, ROG
Elsie Miller, Database AdministratorAddress changes
Anne Hayton, Financial Services/Pension ClerkPension questions
Jonathan Gerber, Financial Services Clerk Accounts Payable
Emily Burkhart, Financial Services Clerk/Camp Registrar
Camp registrations, Deposits Jenni Walker, Financial Services Clerk
Moving informationFinancial Services Contacts
Email first name .
last [email protected]
For questions, comments, or suggestions on this presentation please contact Heidi Harding at the Conference Center.
You can also download a hard copy on the INUMC website under the Finance section.