Budget and Finances

• Board of Elders review financial reports on a regular basis
• Annual Financial Statement audited by an independent CPA firm
• ECFA Accreditation based on the ECFA Seven Standards of Responsible Stewardship (www.ecfa.org)
  
  

Contributions to the Church designated for the use of a specific individual or individuals are to be discouraged. In keeping with Section 170 of the Internal Revenue Tax Code, such gifts cannot be reflected on the donor’s record of contributions; however, gifts designated to the Church benevolence or missions funds, administered by the Church, will be reflected on the donor’s record of contributions if no specific designations are otherwise attached to the gift.

The Church will accept most types of non-cash gifts such as corporate stocks, land, furniture, clothes, books, art, etc. A letter from the Church will be sent to the donor, acknowledging the date of receipt and providing a brief description of the property or items donated; however, the acknowledgment letter will NOT provide an estimated fair market value of the property donated and neither will the donor’s record of contributions reflect receipt of the non-cash gift. Your accountant/tax preparer can assist you with this.

To be included in a given year’s record of contributions, the contributions must be received by December 31, or if mailed, the envelope must reflect a postmark no later than December 31.

The value of time or services contributed by an individual to the Church will not be valued by the Church or posted to the donor’s record of contributions.

Trinity Church, in the exercise of its religious and charitable purposes, has established a benevolence fund to assist persons in financial need and a fund to support missionary efforts. The Church welcomes contributions to the funds. Donors are free to suggest beneficiaries of the fund or of their contributions to the fund; however, such suggestions shall be deemed advisory rather than mandatory in nature.

The administration of the fund, including all disbursements, is subject to the exclusive control and discretion of the Church. The Church committees may consider suggested designations, but in no event is it bound in any way to honor them, since they are accepted only on the condition that they are mere suggestions or recommendations.

Donors wishing to make contributions to the benevolence fund subject to these conditions may be able to deduct their contributions if they itemize their deductions.

Checks should be made payable to the Church, with a notation that the funds are to be placed in the desired fund – Benevolence or Missions. The Church cannot guarantee this result, and recommends that donors who want assurance that their contributions are deductible seek the advice of a tax attorney or CPA.

Adopted by the Board of Elders
April 13, 1999
Trinity Church of Lubbock, Inc.

Barry Harp, CPA 
Chief Financial Officer

Throughout our 40+ year history, Trinity has demonstrated strong stewardship and accountability. One of the ways this has been accomplished is through our annual financial statement audit. This year's audit will be completed in November by the independent CPA firm Carr, Riggs & Ingram, LLC. The complete report is available in the Church Business Office by appointment.