One of the sacred trusts we have at GuideStone is to stand as an advocate for the participants we serve. We do this in a variety of ways, of course. Whether you are a pastor, missionary, hospital employee, university staff member or other person we are privileged to serve, GuideStone remains vigilant to make sure your best interests are kept in mind.
Housing allowance
In 2009, the Freedom From Religion Foundation filed a federal lawsuit in the Eastern District of California in Sacramento to have the minister’s housing allowance exclusion declared unconstitutional. The exclusion — originally passed in 1954 — allows Ministers for Tax Purposes to exclude some or all of their ministerial income — as designated by their church or church-related employer — as a housing allowance from income for federal income tax purposes. (We cover the rules and limits in a special Q&A, as well as in our annual Ministers Tax Guide).
GuideStone has been closely monitoring this case, as we did when another housing allowance case was working through the courts almost a decade ago.
Fortunately, the plaintiffs in the most recent case agreed to a dismissal, but we are ever aware of challenges to this important tax benefit for ministers. We can expect more challenges, either through other court cases or through the legislative process, to the housing allowance exclusion. Acting as your advocate in the corridors of power in Washington is just one way we serve you.
Compensation planning
Few pastors would ever broach the subject of their salaries or related compensation. Yet the subject of the pastor and his compensation is a legitimate item of discussion and one that the local church has a stewardship responsibility to address and to address adequately.
But what is the best way to structure compensation? GuideStone has assembled several resources to help churches as they seek to provide financially for their pastors and other church staff members. Our Budget Resources page offers links to an informative and handy workbook to help churches get a solid budget plan on paper, a sign-up to attend a free webinar, and links to 403b regulations and the bi-annual SBC Church Compensation Survey. We also make available resources on this page so you can determine if you are in compliance with federal reporting requirements at tax time.
Your advocate, for more than 90 years
At the recent annual meeting of the Southern Baptist Convention in Phoenix, we heard story after story from participants and messengers about how GuideStone has helped them, whether it was in helping them become more active and focus on their wellness, or thanks to services like GPS: Guided Planning Services* how they are now more ready for retirement. We heard about how our insurance products and services have helped families deal with unforeseen medical or disability needs.
All of that comes back to the heart of the ministry that is GuideStone Financial Resources. We appreciate the daily opportunity to serve each and every one of our 200,000 participants. On each desk at GuideStone is a small placard with the words of our mission: “Serving those who serve the Lord… with the integrity of our hearts and skillfulness of our hands.” (Ps. 78:72). Those words guide our mission and our ministry.
*Financial advice provided by GuideStone Advisors, a controlled-affiliate of GuideStone Financial Resources.