Clergy Compensation: Speaking the same language
Clergy compensation comprises the major portion of any congregation’s budget. Often when clergy refer to “Clergy Compensation,” they mean something different from lay leaders who often don’t ask questions to fully understand. We will explore the difference between clergy compensation and a clergy package. Understanding the components is very important in preparing an accurate budget.
Specifically, we will look at the composition of “wages”, housing (both housing allowance and church provided housing), SECA reimbursements, 403(b) contributions, pension assessments, health insurance, and other non-cash benefits. We will talk about reporting requirements and where to find helpful resources. We will discuss the different tax structure for clergy and how that impacts their bottom line. This will be an interactive webinar to provide plenty of time for Q & A.
Presented by Nancy N. Fritschner, CPA, and On-Call Tax Consultant for the Church Pension Group, and the Rev. John Fritschner.