Issue 68 of Administration Matters
Credit union offers valuable financial resources for ministries
The ELCA Federal Credit Union now offers a corporate credit card program and a small-loan program specifically suited to the unique needs of ELCA ministries. The ELCA Federal Credit Union World Mastercard for Ministry is a cost-effective alternative to standard corporate credit card programs, with flexible terms that include a shared/deposit-secured option. For ELCA congregations and related ministries looking to fund small projects or make purchases, the credit union extends loans of up to $50,000 at favorable rates. >More
It’s time to submit the annual congregational reports! Data from these reports is used in the ELCA Digital Directory. It also assists synods and the churchwide organization in monitoring trends and planning for ministry. Easy online filing is available at elca.org/congregationreport
. If you did not receive your password in the mail, you can retrieve it by calling your synod. Thank you for your participation!
2020 IRS mileage allowance
The Internal Revenue Service has issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business and charitable, medical or moving purposes. Beginning Jan. 1, the standard mileage rates for the use of a car (also vans, pickup trucks or panel trucks) is:
• 57.5 cents per mile driven for business use, down one-half cent from 2019.
• 17 cents per mile driven for medical or moving purposes, down 3 cents from 2019.
• 14 cents per mile driven in service of charitable organizations.
The business mileage rate decreased one-half cent for business travel and 3 cents for medical and certain moving expenses from 2019. The charitable rate is set by statute and remains unchanged. For more information, visit the IRS
Do not abbreviate 2020 when dating documents
When the year 2020 is abbreviated on official forms and documents, those looking to exploit unsuspecting people can easily manipulate those numbers and leave people potentially vulnerable to fraud. >More
Tax reporting can be complicated
Portico offers the set of annually updated Richard R. Hammar tax guides at no cost to pastors or congregations participating in the ELCA benefit program. Federal Reporting Requirements for Churches helps congregations understand federal reporting requirements. The Clergy Tax Return Preparation Guide gives special attention to tax-related topics relevant to ministers.
Annual report covers
Report covers for 2020 are available now as a free download from the elca.org
website and can printed as needed for meetings, devotions or other events. >More