GUIDELINES REGARDING DESIGNATED CONTRIBUTIONS
FOR MISSION PROJECTS OF __________ BAPTIST CHURCH
Effective ____________, the Finance Committee of _________Baptist Church has instituted the following guidelines related to designated gifts for missions trips and projects to comply with current Internal Revenue Service (IRS) directives:
- Designated contributions to support mission trips and projects of ____________________ Baptist Church are welcomed.
- To qualify as a “charitable contribution” for income tax purposes, the funds must be donated “to or for the use of” _____________ Baptist Church, and not to a particular individual. Funds given to benefit an individual, specified by the donor, may be accepted, but will not qualify as a “charitable contribution” for tax purposes, and will not be reflected on periodic and year-end contribution statements.
- Participants in mission trips or other mission projects should maintain a detailed accounting of all expenses incurred that relate to the mission trip or project. The expenses may include transportation, travel, meals, and other related costs. These costs can then be claimed as an itemized deduction as a charitable contribution on Schedule A of IRS Form 1040. If desired, the church can provide a letter of record indicating participation in the mission trip/project by the individual.
- Any mission trip participant, who directly solicits funds from others to support their individual participation, should not indicate to the donor that the gift is tax-deductible.
This policy was adopted at a regularly scheduled meeting of the Finance Committee of _____________ Baptist Church on __________.