Ep 28 ~ Helping Those in Need with Intentional Benevolence Giving

Benevolence Funds, specifically, how do you handle them when
collecting for a specific person in need will be discussed in
today's episode.


The IRS has set guidelines regarding this situation and we will
cover those today including Revenue Ruling 62-113.


We discussed the IRS cap on benevolence being given before it
becomes taxable to the receiver in 2023.


We also touched upon the fact that ANY benevolence given to
employees or members of the employees family is not considered
true benevolence and IS reported as taxable income.


Another point we covered was making sure that your benevolence
procedures are followed in compliance with your official
Benevolence policy.


Additionally, we verified that donations earmarked for an
individual are NOT tax deductible to the donor UNLESS there is an
understanding that all donations received will be used by the
church in a manner that is consistent with their purpose and
mission and may be used for a different purpose should the church
decide. The church must retain total control of how the funds are
spent, regardless of the donor's request.
Take a listen to learn all the details! xo, Michelle Next
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