
TRANSITION TO THE NEW SYSTEM BEGINS JUNE 6 2010!
- World Evangelism Fund: 5.5%
- Pensions and Benefits: 2%
- Education (MidAmerica Nazarene University): 2.5%
- Iowa District: 5%
As noted in the previous memo, The Iowa District 5% figure is only our best estimate at this time. The final percentage will be determined at the meeting of the District Finance Committee. It will definitely not be more than 5% and could be less. You can adjust the amount based on the final recommendation of the Finance Committee to the District Assembly.
http://www.nazarene.org/ministries/NFS/gts/authorization/display.aspx
What the Calculator is For
Pastors, church boards, treasurers, district officers, and other record keepers will be a able to log into a “Reporting Calculator” enter a few line items, match up previous contributions, check progress toward Ten Percent recognition, and safely and securely transfer funds for World Evangelism.
Greetings! In this memo you will receive important information to help you make the transition to the new “Funding the Mission” system supporting the mission of the Church of the Nazarene through the World Evangelism Fund, Pensions and Benefits, Education Fund and the Iowa District. All of the information in this memo and more is available at www.fundingthemission.org. I urge you to take some time to go to the site and familiarize yourself with all the content. I would also recommend that you print out all the documents you will find on this site and build a notebook which would be easily accessible to both you and your board. I would especially suggest you and your treasurer work through the material together to thoroughly familiarize yourself with the information!
The contributions you will make to the four major funding areas will be based on current income instead of previous year’s income. The percentages are as follows:
- World Evangelism Fund: 5.5%
- Pensions and Benefits: 2%
- Education (MidAmerica Nazarene University): 2.5%
- Iowa District: 5%
PLEASE NOTE: The Iowa District 5% figure is only our best estimate at this time. There are several variables which have yet to be determined before we can confirm the final figure for the district. The final percentage will be determined at the meeting of the District Finance Committee. The District Treasurer, Tina Goetzinger and I recommend you use the 5% figure at this time to assist in building your budget for the coming year.
At the end of this memo there will be additional information with hyperlinks that will take you directly to information that will be very helpful in orienting you to the new system. Some of those links will take you to a list of PDF Documents that can be accessed to be viewed as a group at http://www.fundingthemission.org/Connect/PDF-Documents.aspx
Where Fund Payments are to be sent
There is no change in the locations Fund payments are to be sent:
- World Evangelism Fund: General Treasurer
- Pensions and Benefits: General Treasurer
- Education: MidAmerica Nazarene University
- District Budget: District Treasurer
Timing of Payments
I strongly encourage you to be prepared to implement the new system on the first Sunday of June, which is the first Sunday of our new assembly year. I also strongly encourage you to make your payments on a weekly basis. Getting into the discipline of weekly payments will make the process simpler for the local church.
It is possible to set up an Electronic Transfer of Funds (ETF) for payments sent to the General Treasurer. Authorization forms are available for ETF’s by going to:
http://www.nazarene.org/ministries/NFS/gts/authorization/display.aspx
Calculator is available
Pastors, church boards, treasurers, district officers, and other record keepers will be a able to log into a “Reporting Calculator” enter a few line items, match up previous contributions, check progress toward Ten Percent recognition, and safely and securely transfer funds for World Evangelism. The calculator is currently available on the Funding the Mission Website.
As with any major change in a system that has been used for as long as our previous system has been, there will be a time of adjustment and “working out the kinks. We will do everything possible to assist the local church in making the transition as smoothly as possible. Please feel free to contact the district office with questions!!
Access the following links for helpful information regarding “Funding the Mission.”
Ø Implementing the Plan from Receipt to Payment: Nuts and bolts implementation information, including 10% giving information.
http://www.fundingthemission.org/Track-Giving/Implementing-the-Plan.aspx
Ø What Does it Mean? Clarification of Terms Regarding “What is Income?” Pay special attention to the third item, “Missions Exclusions.”
http://www.fundingthemission.org/Discover/What-Does-It-Mean-.aspx
Ø Definition of Income: A new plan includes new terms and definitions. Click on the link below and access the 2nd document on the list.
Church of the Nazarene - Funding The Mission - PDF Documents
Ø Designated Gift Policy: How is designated giving to be handled in the new system? This document provides vital information. Click on: Church of the Nazarene - Funding The Mission - PDF Documents and go the 4th document on the list.
Ø Updated Terminology: These are the terms and definition of terms that will be used to describe the Funding the Mission plan in all resources and on Web sites. Click on
Church of the Nazarene - Funding The Mission - PDF Documents and go to the last document on the list.
Ø Rare Circumstances: There is an appeal process for the church that, under the new Funding system, finds it’s allocations have significantly increased. Click on this link for helpful information:
http://www.fundingthemission.org/Discover/Rare-Circumstances.aspx
Ø General Questions and Examples: Great information on many questions you are asking and some you wouldn’t know to ask!
http://www.fundingthemission.org/Discover/FAQs-and-Examples.aspx