Dates to Know
March 15 – Please submit your Annual Doctrinal Agreement by this date
April 1 – February financial report will be due
June 17-20 – Family Fellowship Week in Edinburg, VA
Microsoft Excel
We request that all missionaries complete their financial report template using Microsoft Excel rather than Apple’s Numbers. Although Apple’s spreadsheet application does export to Excel, doing so removes many key features that our staff relies on to review the reports. If you need to purchase a copy of Microsoft Excel for the Mac, we can obtain this for you at a discounted rate. If switching to Excel creates a hardship for you, please contact us. If you have questions, please let us know. We appreciate your assistance in this area!
Financial Report Checklist
Changes in ministry can affect the typical expenses you list on your reports from month to month. For instance, someone on deputation will primarily have travel expenses, while someone on the field may have more costs related to renting a building or purchasing snacks and Sunday School supplies. Someone coming home on furlough will be dealing with mileage, meal allowances, and lodging costs they don’t usually see when on the field. We suggest that you click here to review our checklist of commonly overlooked expenses, to be sure you are claiming all allowable deductions.
Mileage Tracking and your MFR
There are several good mileage apps available to help you record details for your financial reports. Please keep in mind that all details of the Mileage Log still need to be completed on the template when submitting your MFR. Here are some apps that others have recommended:
Everlance
MileBug
Mile IQ
TripLog
Retirement Accounts and your MFR
The change to 1099’s from W-2’s includes additional options for your retirement planning. Because of this, Line 3 of the report will no longer be used to indicate 403(b) contributions. The staff will utilize that category for internal adjustments as needed. All retirement contributions regardless of the type of account can be included under Line 18 of the report. Please be sure to inform your tax preparer about the type(s) of retirement accounts you have. If you have questions about your retirement accounts, please contact Mrs. Kim O’Malley.