Finances at IMC - Ivybridge Methodist Church1 Finances at IMC As a church, for a number of years,...
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1 Finances at IMC As a church, for a number of years, IMC has been in the comfortable position of being able to afford what we reasonably need without stressing too much about where the money is coming from. Sure, we have had appeals for certain things (such as the recent LED Lighting Appeal), but generally the money has looked after itself and we haven’t had to openly worry about it too much. Unfortunately that has now changed. For two or three years our income has fluctuated, but on average has declined by approximately 10%, whilst our bills have on average crept up (despite us reigning in on the amount we spend on building maintenance – a chicken that is surely going to come home to roost). We are now in a position where we cannot afford to “coast” any longer, and we must face up to the situation. The objective of this leaflet is to: • try to explain to you the financial situation we as a church are in, • ask you to prayerfully consider how you as an individual/family should respond, • provide you with the forms to record that response. We ask that you do not necessarily make an immediate response, but that you spend time with God (and your other family members, if appropriate) over the next few weeks, and then make a considered response. We therefore ask you complete the response forms found in the back of this leaflet, and have them available in an envelope for your Pastoral Visitor to collect when they deliver your next IMC Newsletter (the April edition – which should be around the end of March). We would ask that you complete and return the responses, whether you already give to IMC, or not; and whether you decide to change the amount you give, or not. We thank you for taking the time to read this brochure and considering your response. We are sure that, led by God, we will collectively rise to this financial challenge. Yours in Christ, Dave Rowe, Steward Rev Mark Lawrence, Minister On behalf of the IMC Finance Action Team
Transcript of Finances at IMC - Ivybridge Methodist Church1 Finances at IMC As a church, for a number of years,...
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FinancesatIMC
Asachurch,foranumberofyears,IMChasbeeninthecomfortablepositionofbeingabletoaffordwhatwereasonablyneedwithoutstressingtoomuchaboutwherethemoneyiscomingfrom.Sure,wehavehadappealsforcertainthings(suchastherecentLEDLightingAppeal),butgenerallythemoneyhaslookedafteritselfandwehaven’thadtoopenlyworryaboutittoomuch.
Unfortunatelythathasnowchanged.Fortwoorthreeyearsourincomehasfluctuated,butonaveragehasdeclinedbyapproximately10%,whilstourbillshaveonaveragecreptup(despiteusreigninginontheamountwespendonbuildingmaintenance–achickenthatissurelygoingtocomehometoroost).
Wearenowinapositionwherewecannotaffordto“coast”anylonger,andwemustfaceuptothesituation.
Theobjectiveofthisleafletisto:• trytoexplaintoyouthefinancialsituationweasachurcharein,• askyoutoprayerfullyconsiderhowyouasanindividual/familyshouldrespond,• provideyouwiththeformstorecordthatresponse.
Weaskthatyoudonotnecessarilymakeanimmediateresponse,butthatyouspendtimewithGod(andyourotherfamilymembers,ifappropriate)overthenextfewweeks,andthenmakeaconsideredresponse.Wethereforeaskyoucompletetheresponseformsfoundinthebackofthisleaflet,andhavethemavailableinanenvelopeforyourPastoralVisitortocollectwhentheydeliveryournextIMCNewsletter(theApriledition–whichshouldbearoundtheendofMarch).
Wewouldaskthatyoucompleteandreturntheresponses,whetheryoualreadygivetoIMC,ornot;andwhetheryoudecidetochangetheamountyougive,ornot.
Wethankyoufortakingthetimetoreadthisbrochureandconsideringyourresponse.Wearesurethat,ledbyGod,wewillcollectivelyrisetothisfinancialchallenge.
YoursinChrist,
DaveRowe,Steward RevMarkLawrence,MinisterOnbehalfoftheIMCFinanceActionTeam
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TheCurrentFinancialsituation
ThefinancesofIMCbreakdownintotwomajorareas:
GeneralFund
Thisfundpaysforallournormalrunningcosts,including:thepaymentsthatwemaketotheMethodistchurchtohelppayforourminister;propertymaintenanceandrepair;utilitybills;insurance;cleaning;outreachactivities;andtheconsumablesweusetohelpdeliverourservicesetc.
TheGeneralFunddoeshavesourcesofincomeotherthanourownpersonalgiving,suchasHallrent,andtakingsfromWesley’sandChewsdays.Theseotheritemsareforecasttototalapproximately£18,000in2018/19(thechurchfinancialyearrunsfromSeptembertoAugust).
However,ouroverallminimumrunningcoststhisyearareforecasttobe£81,000-thisiswithconstraintsonourmaintenanceandrepairs.Ontopofthisweneedtostartreplenishingthereserveswehold(astheyhavebeendangerouslydepleted,andasacharityweareexpectedtomaintainreservesinlinewithourformallypublishedReservesPolicy).Wealsoneedtobeabletobudgetforasensiblelevelofrepairstothefabricandsystemsofourbuilding.Reallywecoulddowithanannualincomecloserto£90,000.
IhavealreadyspokenaboutthesituationinchurchandwritteninthemonthlyNewsletter(twice),andasaresultanumberofyouhaverespondedandincreasedyourgivingand/orhaveputyourgivingonaregularfooting–thankyouall,thisimmediateresponseismuchappreciated.
However,evenallowingforthisincreasedgiving,ourcurrentgiving(includingthetaxwecanreclaimfromGiftAid)isforecasttobe£67,000.Thisleavesagapof£5,000–ashortfallofcloseto6%;i.e.givingof£67,000+otherincomesourcesof£18,000,comparedtoarealisticoverallincomerequirementof£90,000.
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YouthVisionFund(YVF)
YVFhashistoricallybeentherouteforfundingtheyouthministersthatIMChaveemployedatvariouspointsinthepast.
TheYVFdoesbenefitfromsomeincomeoutsideofourgiving.Inthecomingyearwecanexpectapproximately£2,750fromotherchurchesforservicesthatPhilprovidestothem.
Ourgivingtothisfundhasdroppedoffoverthepastfewyears,andwearenowrapidlyeatingintothereservesthatwehadpreviouslybuiltup.
AtcurrentratesthefundwillrunoutmoneyinFebruarynextyear(note:thishasalreadyimprovedfromNovemberofthisyearsinceanumberofyouhaverespondedtothecurrentsituationbeinghighlightedinchurchandtheNewsletterrecently).
WehavecommittedtoPhiltocontinuehisemploymentuntilJuly2021(whenhewillmoveontoanotherappointment),butunlessthefundingsituationchangeswewillnotbeabletomeetthisobligation.
Inordertobeself-sustainingoverthelongterm(whichisessentialifwewanttomeetourcommitmenttoPhil,andthenreplacehimwhenheleavesus),weneedtomorethandoubleourYVFgivingfrom£8,300p.a.to£18,500p.a.
Whyhavethingschanged?
Youmaywellaskwhythecurrentsituationislikeitis,wheninrecentyearsthefinanceshaveappearedtobemore,orless,solid.Ibelieveitisattributabletotwomainfactors:
i. Duringthelastfewyearswehavespentconsiderablesumsonabacklogofessentialrepairsincludingforexamplealeakingtowerandre-plastering.Thishasdepletedourreservesandabuildingsuchaswehavecontinuestoneedsignificanton-goingspending.
ii. Anumberofthehighergiversinthecongregationhaveeithermovedoutofthearea,movedtohelpestablishnewchurchplantselsewhere,or(moresadly)havedied.Theyhavenotbeenreplacedgiving-wise.
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Whyshouldwegive?Jesussays,"Freelyyouhavereceived,freelygive",(Matthew10v8),andinDeuteronomychapter26wearecalledtosetasidethe“firstfruitsofallyouproduce”andofferitbacktoGodinworship.
Giving,firstandforemostisaresponsetotheamazinggenerosityofAlmightyGod.
HeisaGodwhofreelygives,wholovestogiveandgivesbecauseHeloves.
AsfollowersofChristsurelywearetogivefreelyandgenerouslybacktoGod,becauseHehasgivensomuchtous.WereceivefromGodthatwhichwedonotdeserve,andwepartlyshowourgratitudetoHimandourloveforHiminandbygiving.
Givingispartofourdiscipleship.TheLordshipofJesusextendseventoourfinances.Doweshowthisinourgiving?Spurgeon'swordsaresurelytrue,"Thelastpartofamantobeconvertedishiswallet".
InChristwehavefreelyreceived,letusfreelygive.
Howmuchshouldwegive?
UltimatelythisisamatterforyouandGodtoresolveinprayer.
Thereisastrongbiblicalcasefortithing(giving10%ofyourincome),butyoucandebatewhetherthisincludesallyourgiving,orjustyourgivingtothechurch.
Ourfounder,JohnWesley,said,“Earnallyoucan,saveallyoucan,giveallyoucan”.
Wedon’tintendtobeprescriptivehere;youmustconsiderthispersonallyinprayerwithGod,buttohelpyouhereareafewquestionsyoumaywishtoconsiderwhenyoudopray:
• WhatisGodcallingmetogive?
• Ismygivingsacrificial?GodcallsustosacrificialgivingtofurtherHiskingdomonEarth;afterallHemadetheultimatesacrificeforus.
• HowdoesmygivingtoGod’sworkcomparetohowmuchIspendonvariousaspectsofmylifestyle;suchas:holidays,TVsubscriptions,goingout,myhobbies,etc.
• HowmuchamIwillingtospendtofeedmyselfphysically?HowdoesthiscomparetowhatIgivetofeedmyselfspiritually?
• HowmuchhasGoddoneformeinmylife?
• AmIgivingasanindividual,oramIgivingonbehalfofotherfamilymemberstoo?
Itmaybethatweaspiretogiveatasignificantlyhigherlevelthanwedotoday,butcircumstanceandthecommitmentsthatwehavealreadymadedonotmakethispossible
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rightnow.However,weshouldstillchallengeourselvestomakesignificantstepstowardsthelevelwehaveagreedwithGod,andthencontinuetakingstepstowardsituntilwegetthere.Godwillnotaskustodoanythingthatwe(withHishelp)arenotcapableof.
WedorecognisethatnotallofyourgivingtowardsGod’sworkwillbedirectedthroughthechurch–againthebalancetobestruckhereisbetweenyouandGod.
Wealsoacknowledgethatpeople’spersonalfinancialsituationcanchangedramaticallyatthetimeofcertainlifeevents,andthatsomeofthesechangesarefinanciallyfortheworse.Atthesetimesitisappropriatethat(aftercarefulprayerfulconsideration)youandGodmaycometotheconclusionthatyoushouldactuallygiveless.
Thekeytogivingisprayerandawillingnesstogivesacrificially:
“Rememberthis:Whoeversowssparinglywillalsoreapsparingly,andwhoeversowsgenerouslywillalsoreapgenerously.Eachpersonshouldgivewhatheorshehasdecidedintheirhearttogive,notreluctantlyorundercompulsion,forGodlovesacheerfulgiver.AndGodisabletomakeallgraceaboundtoyou,sothatinallthingsatalltimes,havingallthatyouneed,youwillaboundineverygoodwork.”
(2Corinthians9:6-8NIV)
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TheMechanicsofGivingRegularGiving
Firstly,wewouldencourageyouinthestrongesttermstoensurethatyouputyourgivingontoaregularfooting,ratherthanjustputmoneyinthecollectionbagwhenyouhappentobeinchurch.Thisenablesustoplanourexpenditurethroughouttheyear,safeintheknowledgethatweknowhowmuchincomewecanexpect,andwhenwewillreceiveit.ItalsoenablesyoutomoreeasilycommittogivingatthelevelthatyouhaveagreedwithGod.
StandingOrder
Ourmostpreferredmethodforyourgiving(byalongway)isviastandingorder.Thisiseasyforyoutoset-up,meansthatyoudon’thavetothinkaboutfindingyourgifteachweek,andminimisestheamountofadministrationtimeandeffortthechurchneedsasiteliminatesthetasksofcollating,counting,andthenbankingyourgiving;italsoreducesthesecurityissuesaroundhavingtohandle,store,andtransportlargeamountsofcash.
Theeasiestwayformostofustosetupastandingorderisviainternetbanking.However,ifthisisnotappropriateforyou,thenecessarypaperformsareincludedaspartoftheresponseformsatthebackofthisleaflet.
Envelopes
Ifastandingorderreallyisnotpracticalforyou,thenwecanprovideasetofgivingenvelopes(oneforeachweek)thatyoucanthenputinthecollectionbag.Ifyoumissaweek,thentheideaisthatyousimplybringtwoenvelopesthefollowingweek.Ifthisisthemethodyouchoose,thenpleaseindicatethisbytickingtheappropriateboxontheGeneralFundresponseformatthebackofthisleaflet.
Somepeopleinthepasthavebeenreluctanttomovetostandingordergivingasitdoesn’tleavethemanythingtoputinthecollectionbageachweek,andtheywereconcernedthatotherswouldthinkthattheywerenotgiving.Thisisnolongerthecase,themajorityofpeoplenowgiveusingstandingorder;soweshouldallassumethatthisisthecaseifsomeonepassesthecollectionbagwithoutputtinganythinginit(andthinkbetterofthemforthereasonsgivenabove).
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GiftAid
Anothermessagethatwecannotemphasiseenoughisthat(ifyoupayUKIncomeTax)please,please,pleasecompleteaGiftAidform(thesearebuiltintotheresponseformsatthebackofthisleaflet).
ThiswillallowIMCtoreclaimanadditional25%ofthevalueofyourgiftbackfromtheGovernment;ortoputitanotherway,every£1yougiveuswouldthenbeworth£1.25!!!!Tobefair,alotofpeoplethatcan,alreadymakeuseofGiftAid;butitisimportantthatwemaximisetheuptakeinordertomaximiseourincome.Evenifyouthink/knowthatyouhavepreviouslyfilledoutaGiftAidform,pleasetakethisopportunitytocompleteanotherone–thiswillminimisethechancesofushavingmisplacedyourform.
SomepeopleworrythatiftheycompleteaGiftAidformthenofficerswithinthechurchwouldsomehowbeabletoaccessinformationabouttheirprivatefinancialmatters.Thisissimplynottrue.ThetaxofficedoesNOTrevealANYinformationtothechurchaboutpeopleGiftAiding.
Itcostsyounothingandifyouareahigherratetaxpayer,thenitmaybeadditionallyadvantageousforyou,asyoucanoffsetyourgivingagainstyourhighesttaxrate.
Forgivingtobegiftaidedyoudoneedtouseeitherastandingorderorenvelopesowecanrecordtheindividualamountsgiven,justincaseHMRCneedtoauditourrecords.
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Thankyouforreadingthisleaflet.
Pleasenow:
• Prayaboutyourresponse
• Completetheattachedforms(evenifyougivealready,andevenifyoudonotintendtochangeyourlevelofgiving).
• Placetheformsintoanenvelope(toprotectyourprivacy)
• HandtheenvelopetoyourPastoralVisitor–ifthisprovesimpossibleforwhateverreason,pleasepassyourenvelopetoamemberoftheFinancialActionTeam(DaveRowe,AndrewLawrie,SandraDudley,DavidBithell,MadelineAllen,AndyPhillips,orSteveGill)–pleasenotethatitwillonlyeverbetheTreasurer(AndrewLawrie)and,whereappropriate,theGiftAidSecretary(StewartEdward)whowillactuallygettoseethecontentsofanyone’senvelopes–everybodyelsewillonlybebriefedatananonymousrolled-uplevel
WewouldappreciateitifyoucouldensurethatyoureturnyourresponseformsbeforetheendofMarch
ResponseForm–GeneralFunds
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I/we……………………………………………………………………………………committogive£……………………..perweek/month/year(deleteasappropriate)toIvybridgeMethodistChurchGeneralfund.
! I/wewillgiveusingaStandingOrder,andhavealreadypassedmy/ourinstructiontomy/ourbank (Note:apaperStandingOrderformisprovidedbelowshouldoneberequired)
! I/wewouldprefertouseweeklygivingenvelopes! I/wewantIMCtotreatmy/ourgivingasGiftAiddonations,andhavethereforecompleted
thedeclarationbelowPleasetickalloftheabovethatapply
------------------------------------------------------------------------------------------------------GIFTAIDDECLARATION
Title …… ….Forename(s) ……………………………… Surname ……………………………..…………………..
Address.…………………………………………………………….…………………………………….………………
…………………………………………………………………………….………………………………………………
Post Code ……………………. Telephone Number…………………………………………………
Email: ……………………………………………………………………………………………………
I want IMC to treat all donations I have made since 6 April 2000 and all donations I make from the date of this declaration until I notify you otherwise as Gift Aid donations.
Signature ……………………………………………………….. Date - - /- - / - - - -Notes
• You must pay an amount of income tax and/or capital gains tax at least equal to the tax that IMC reclaims on your donations in the tax year (currently 25p for each £1 you give). You can cancel your declaration if this ceases to be the case.
• If you pay tax at the higher rate you can claim further tax relief in your Self-Assessment tax return. • Please notify IMC if you change your name or address.
STANDINGORDERTo:(yourbanknameandfulladdress)
………………………………………………………………………………………………………………………………………..
………………………………………………………………………………………………………………………………………..
………………………………………………………………………………………………………………………………………..
YourBANKACCOUNTNo.…………………………………………
YourSORTCODE ……………………………………………..
Pleasepay:NATWESTBANK,CityCentreBranch,Plymouth;SortCodeNo.53-61-57;AccountNo.08262683;AccountName=IvybridgeMethodistChurch
Thisistoreplace/inadditionto*anypreviousinstructionrelatingtothisrecipientaccount
Commencingonthe…………./……………/20………..andmonthly/quarterly/yearly*thereafter,
theSumof£………...……until furthernotice*,oruntil ……../…………/20……*
Signed:………………………………………………Date:……../…………/20……*
*Deleteasappropriate ThisS.O.formtobegiventoyourbankwhencompleted
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ResponseForm–YVF
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I/we……………………………………………………………………………………committogive£……………………..perweek/month/year(deleteasappropriate)toIvybridgeMethodistChurchYouthVisionFund.
! I/wewillgiveusingaStandingOrder,andhavealreadypassedmy/ourinstructiontomy/ourbank (Note:apaperStandingorderformisprovidedbelowshouldoneberequired)
! I/wewantIMCtotreatmy/ourgivingasGiftAiddonations,andhavethereforecompletedthedeclarationbelow
Pleasetickalloftheabovethatapply------------------------------------------------------------------------------------------------------
GIFTAIDDECLARATION
Title …… ….Forename(s) ……………………………… Surname ……………………………..…………………..
Address.…………………………………………………………….…………………………………….………………
…………………………………………………………………………….………………………………………………
Post Code ……………………. Telephone Number…………………………………………………
Email: ……………………………………………………………………………………………………
I want the IMC to treat all donations I have made since 6 April 2000 and all donations I make from the date of this declaration until I notify you otherwise as Gift Aid donations.
Signature ……………………………………………………….. Date - - /- - / - - - -Notes
• You must pay an amount of income tax and/or capital gains tax at least equal to the tax that IMC reclaims on your donations in the tax year (currently 25p for each £1 you give). You can cancel your declaration if this ceases to be the case.
• If you pay tax at the higher rate you can claim further tax relief in your Self- Assessment tax return. • Please notify the IMC if you change your name or address.
STANDINGORDERTo:(yourbanknameandfulladdress)
………………………………………………………………………………………………………………………………………..
………………………………………………………………………………………………………………………………………..
………………………………………………………………………………………………………………………………………..
YourBANKACCOUNTNo.…………………………………………
YourSORTCODE ……………………………………………..PleasepayLloydsBank,Ivybridge;SortCodeNo.30–94–58,AccountNo.02202262,AccountName=IvybridgeMethodistChurchYouthVisionTrust
Thisistoreplace/inadditionto*anypreviousinstructionrelatingtothisrecipientaccount
Commencingonthe…………./……………/20………..andmonthly/quarterly/yearly*thereafter,
theSumof£………...……until furthernotice*,oruntil ……../…………/20……*
Signed:………………………………………………Date:……../…………/20……*
*Deleteasappropriate ThisS.O.formtobegiventoyourbankwhencompleted
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