CARE Initiative seeks to address economic issues facing pastoral leaders and to advocate for pastors and church boards in pastor financial planning and compensation.
Addressing Economic Challenges Facing Pastoral leaders in the Church of God, Anderson, IN
If you are credentialed by a USA-based credentialing committee of the Church of God…
If you are a governing board member of a Church of God congregation…
Then CARE can bless you with important resources and assistance.
CARE blesses pastors and congregations by:
- Hosting Regional Seminars addressing healthy practices for pastors and board members in pastor compensation and family finance planning.
- Offering no-cost financial planning for pastors and their families
- Matching contributions for pastors and congregations that enroll in retirement planning through Servant Solutions
- Develops strategies that help young pastors pay down educational debt
- Assists new pastors to establish healthy financial plans as they transition into the first years of congregational ministry
- Provides opportunities for established pastors to renew and sustain their commitments to healthy financial practices
Ultimately, CARE works to inform and challenge the ways congregations bless their pastors and encourage pastors in their long arc of ministry.
PASTORAL COMPENSATION: A MANUAL FOR CHURCH BOARDS
A Church of God-branded rationale and guidelines for pastors and church boards on pastoral compensation. A collection of pastoral compensation topics authored by knowledgeable persons in the Church of God.
Order by contacting Patti Williams at PWilliams@chog.org or call 800-848-2464.
CARE Financial Planning—FREE
A CARE Financial Planner is available to confer with pastors and church boards and offer direct financial consultation related to pastoral compensation. These consultations offer a variety of services to pastors and church boards through a variety of contact options: telephone, on-site, and virtual. All financial planning consultations are offered to pastors and boards—absolutely free.
For information and appointments, complete the Inquiry Page.
These six-hour on-site training events offer pastors and church board members practical information for understanding the nuances of pastoral compensation. Expert and engaging facilitators will initiate round-table discussion in an interactive and enjoyable environment. Discussion titles include: Pastoral Compensation is Complicated, The Cost of Ministry vs. the Cost of the Minister, Pastoral Compensation and the IRS, and How Do I Talk With My Board About Pastoral Compensation.
Registration: FREE to pastors, spouses, and church board members.
Information: Contact Patti Williams at PWilliams@chog.org or 800-848-2464.
ECFA resources to help you effectively structure a compensation package, set up a healthy church budget, and keep up with the current tax laws and regulations. http://www.churchexcel.org/chogresources
16 VIDEOS PASTORAL COMPENSATION: QUESTIONS AND ANSWERS
The videos below are designed for use in church board meetings for training with members. Each five-minute video answers one question related to pastoral compensation and support. Click on the desired video below.
CARE Initiative addresses the critical economic issues facing pastoral leaders in two sequential ways: Financial Education and Financial Assistance.
Financial Educational Participation
CARE begins with a directed educational effort with pastors and congregational financial decision makers.
CARE offers free financial counsel to pastors through the CARE Financial Planner.
CARE sponsors Seminars. These 6-hours highlight expert presenters in clergy compensation, round-table pastor discussions, and opportunity for Q & A.
CARE makes provides training resources.
- Book—Pastoral Compensation: A Manual for Church Boards
- Video series—Pastoral Compensation: Questions and Answers
- ChurchExcel Resources—The best in information and training resources from ECFA (Evangelical Council for Financial Accountability) in personal and congregational finance issues
Financial Assistance – Ministry Excellence Funds
Once pastors and board members have participated in educational and planning venues, pastors may make application for Ministry Excellence Funds.
Ministry Excellence Funds address three particular pastoral issues: (1) educational debt relief, (2) retirement planning assistance, and (3) transition assistance.
1) Educational Debt Relief – These funds are limited to young-in-ministry pastors: < 40 years old OR < 10 years in credentialed ministry in the Church of God.
Process: After one year of pastoral service in a Church of God congregation, a pastor may apply for ministry educational assistance. Eligibility will be determined through an application process with the CARE Financial Planner. Grant funds will award $3,000 per year and make direct deposit annually to institutions holding the student loans.
2) Retirement Planning Assistance – Retirement seed funds will assist pastors either to enter or to re-engage a retirement fund through Servant Solutions. This assistance is limited to young-in-ministry pastors who are < 40 years old OR < 10 years in credentialed ministry in the Church of God.
Process: Eligibility will be determined through an application process with the CARE financial Planner. Once pastors and church treasurers have completed the application, a plan to augment the pastor’s retirement fund will follow the annual formula:
$600 (minimum church contribution) + $120 (minimum pastor contribution) + $3,000 (CARE Contribution) = $3,720 annual deposit in pastor Servant Solution retirement account.
3) Transition Assistance – During extended search processes, pastoral candidates have limited income and, many times, find times of transition to be financially challenging.
Process: Eligibility will be determined through an application process led by the CARE Financial Planner. Upon recommendation from the regional pastor of the state or region in which the exiting congregation is located, a one-time award of $500 per-month with a cap of three months will be granted to the pastor in transition. Assistance funds will be limited to pastors experiencing 1) involuntary transitions and 2) with no immediate relocation plan. Transition assistance is non-renewable.
Click on the link below to register your inquiry into the benefits of the CARE Initiative.
The CARE Financial Planner, Ryan Harter, will respond to your inquiry. The purpose of this first conversation is to establish an encouraging connection regarding your particular concerns and requests.
Step 2—Registrations and Applications
After the initial conversation with a CARE representative, you will receive links to the appropriate services, registrations, and applications.