We recommend that every parish obtain and maintain a copy of its tax exemption, also known as 501c(3) letter, in its permanent files. The Diocese, as well as each parish, is covered under a group exemption letter from the IRS. The Episcopal Church Center office in New York maintains a list of the organizations covered by the exemption. In order to obtain a copy, please call June Victor at 1-800-334-7626 and ask for a copy of the letter. Pleae have the following information when you call: Parish name, city, and Federal Tax ID number.
The letter is useful for sales tax exemption purposes, or grant applications.
Later this year, the Finance Office will be updating our list with the Episcopal Church Center. More details about this process will be forthcoming.
This is an excerpt from the IRS website about deductions for donations for Haiti earthquake relief.
New Tax Break for Contributions to Haiti Earthquake Relief
A new tax relief law allows people who contributed in 2010 to charities providing earthquake relief in Haiti to take a tax deduction for the contribution on their 2009 tax return instead of their 2010 return. This means you can receive an immediate tax benefit, rather than having to wait until you file next year’s return. Certain requirements apply:
Only cash contributions made to these charities after Jan. 11, 2010, and before March 1, 2010, are eligible. This includes contributions made by text message, check, credit card or debit card.
The contributions must be made specifically for the relief of victims in areas affected by the Jan. 12 earthquake in Haiti.
You may deduct these contributions on either your 2009 or 2010 returns, but not both.
In addition, the general rules about tax deductions for charitable donations apply:
You must itemize your deductions on Schedule A; those claiming the standard deduction, including all short-form filers, are not eligible.
You must keep a record of any deductible donations you make.
For donations by text message, a telephone bill will meet the requirement if it shows the name of the donee organization and the date and amount of the contribution.
For cash contributions made by other means, be sure to keep a bank record, such as a cancelled check, or a receipt from the charity showing the name of the charity and the date and amount of the contribution.
Contributions to foreign organizations generally are not deductible.
Make sure your contribution goes to a qualified charity. Most organizations eligible to receive tax-deductible donations are listed in a searchable, online database available under Search for Charities. Some organizations, such as churches or governments, may be qualified even though they’re not listed on IRS.gov.
The above links are from the IRS website, http://www.irs.gov/ Please check there for further information.
The link below shows the mailing dates and due dates of reports parishes are required to submit to the Diocesan Finance Office. Please print and review the form so that you are aware of these important dates. Please contact us if you have any questions. Thanks in advance for your assistance.
The Finance Office has received the 2009 parochial report forms from the Episcopal Church Center in New York. We will be mailing these forms to parishes later this month. The only change in the report from 2008 is the addition of a mailing address line on page 1. There are no changes in pages 2 or 3.
Today, 1/11/2010, we mailed the 2010 Annual Estimate Form and January 2010 monthly report. Both of these reports were substantially reformatted for the new assessment canon, which was passed at last November's Convention. Parishes will now report Normal Operating Expenses (Total operating - Diocesan Aid - less Assessment to Diocese - Outreach from operating budget). Definitions of operating expenses can be found in the Instructions for page 3 of the Parochial Report.
If you want to work on the calculations, use the Excel forms. You only need to enter numbers in the shaded areas, and the remaining numbers will be calculated by formula.
Please mail both the Annual Estimated and January Monthly Form together, along with the Reconciliation of Diocesan Support for 2009. All these forms are due to the finance office no later than February 20, 2010.
Parish compliance with the assessment canon can be found in an Excel spreadsheet in the download center, under the category of Legal and Administrative documents. Please use the link below for easy access.
If your parish would like to participate in the Diocesan Audit Team program, review your eligibility for the program by referencing the Diocesan Business Practices. If you are eligible and want to participate, download the form and return it to the Finance Office no later than January 15, 2010 We are expanding our audit team for 2009 audits and want to able to serve as many interested parishes as possible.
Contact Sue Leishman, Chief Financial Officer, if you have any questions on the audit team program, or would like to volunteer as an auditor!!
Links to Diocesan Business Practices and Request to Participate in the Audit Team program:
The Episcopal Diocese of Ohio
