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Ministry donations received by Reliant Mission belong to Reliant and under the control of Reliant. Reliant missionaries may request the Reliant Finance Reliant Finance Department to transfer to transfer MTD funds internally out of the MTD missionary account for which they’re responsible, to another Reliant ministry Reliant ministry account, including another missionary MTD account or Reliant church/project account. Requests come from active missionaries and exiting missionaries. Requests from Active Missionaries and Exiting MissionariesFill out the internal MTD Fund Transfer request form below and email the completed form to finance@reliant.org. The following rules apply:
Automatic Internal Fund Transfer Policy for MTD Accounts of Exiting ReliantStaffMissionariesWhen a Reliant missionary exits with a balance remaining in the MTD account they’re responsible for, the following policy will automatically apply toward the treatment of any remaining funds in the closed MTD account: 1. If at the date of exit the fund balance is $10,000 or more.:
The amount transferred to the Reliant church ministry fund will remain in that account, but can be accessed through the Reliant ministry grant process. If there is no obvious Reliant church or project ministry fund associated with the missionary’s work, Reliant management will determine the Reliant fund that provides the closest reasonable match to the field ministry of the missionary. After the excess balance transfer is applied, of the remaining $10,000 balance, $5,000 is eligible for MTD fund transfer requests. The remaining balance after approved MTD fund transfers have been made will be transferred to the Reliant staff ministry fund Reliant Staff Ministry Fund. Example:
2. If at the date of exit the fund balance is less than $10,00000:
Example:
Other Transfer Policies for MTD Accounts of Exiting Reliant Missionaries
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*Pending Addendum - Transfer policy section #4 (below) has been proposed but has not received Board approval. Therefore, this type of Transfer currently requires an exception process approval until it is officially adopted into policy by the Reliant Board of Directors. |
4. *Fully Funded ("One Check Donor") MissionariesMissionaries
If If a local church or ministry is the single donor to Reliant for the ministry of a missionary and the missionary is exiting Reliant employment, Reliant will generally contribute all remaining funds in the exiting MTD fund to MTD fund to another Reliant Missionary MTD/Dept. Fund(or MTD/Dept Fundss), at the request of the leadership of the local church or ministry. This allows the local church or ministry to give additional donations to Reliant to keep the missionary fully paid funded without experiencing short-checks, and any shortfalls in paying salary, benefits or ministry expenses. It also keeps Reliant from having a negative balance in the missionary MTD account. If the local church or ministry would prefer to have excess donated funds returned back to the church/ministry, they should contact hr@reliant.org to discuss options that may be available.
info5. Reliant Missionaries Transferring to Another 501(c)(3) non-profit ministry
If
athe Reliant missionary is exiting, but will be transferring their ministry employment to another 501(c)(3) non-profit ministry or church and
thinksanticipates that there will be an MTD account balance remaining upon their exit from Reliant, then Reliant will generally allow for the contribution of any remaining MTD funds to be contributed to the new ministry or church. The ministry or church will need to provide adequate substantiation that they are a 501(c)(3) non-profit.
The Reliant missionary should contact hr@reliant.org to discuss the process of transferring employment to another ministry or church, and the
possibilityprocess of contributing any remaining MTD fund balance to the new 501(c)(3) non-profit ministry or church.
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If you have questions about this process, the policy, or it's parameters please contact finance@reliant.org |
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