Quote:
Originally Posted by deltaguitar
Can someone give me information on church financial disclosure?
Does a church have to have business meetings or financial statements presented?
If not required by law, do UPCI affiliated churches fall under a minimum requirement to disclose financial activity to members of a church.
|
If the church is incorporated, most states require that the church hold a meeting with the corporate board once a year and have that board review the financials. That is what we do.
Outside of that, it is governed by the church by-laws. I'm not sure what the IRS requires about an annual meeting...we do it so I've never checked that out. I would assume they require an annual business meeting as well. If you have a corporate board, or a church board, that meeting would be sufficient. Many non-profit organizations are far too big to have an annual business meeting of all members. The representatives would be sufficient.
We don't do a full financial disclosure to the whole church...that is for our corporate board to handle. If anyone has any questions, they are free to ask. We have an accountant that prepares our financials for official review for our bank, etc. That is what the members would see if they ask.