Planting Churches Among the City's Poor - Volume 2

356 • P LANTING C HURCHES AMONG THE C ITY ’ S P OOR : V OLUME 2

Church Plant Financial Policies World Impact

The following policies will encourage the financial integrity of World Impact, its church plants and its missionaries. In addition, they have been designed to allow for as much flexibility as possible, given that all church plants develop and mature differently.

I. Policies

A. Checking Accounts: Once a church plant grows to the size where regular services are held and offerings are received, a checking account should be opened at a local bank. World Impact missionaries leading the church plant and/or members of the church will be signers on the account. (Note: in order to open such an account, the church plant will need to acquire a federal tax identification number. See Legal Form of Organization below.) B. Financial Reporting: Each month a detailed ledger of expenses paid from the account is to be sent to the Accounting Manager at the National Office. The ledger should include check number, amount paid, date paid, payee (the person or entity to whom the check was made payable) and a detailed description of what was paid. C. Outside Funding: Only monies received from members of the church plant will be deposited to and disbursed from the checking account. All monies raised by missionaries from sources outside the church plant will be turned into National and deposited to an ATR or special operational fund for the church plant. World Impact will release funds to the church plant when authorized by the Board and as appropriate. D. Other Ministry Programs: While under the leadership of World Impact missionaries, the church plant will not independently conduct any formal ministry programs, such as men’s/women’s homes, thrift stores, job training programs, etc.; or will not start other organizations, non-profit or otherwise. If the church plant considers such programs necessary, they will be operated under the local World Impact ministry as an approved ATR. Once the church plant has formally developed leadership independent from World Impact, it is free to operate such ministries or launch new non-profit organizations.