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Policy Name: | MTD Fund Transfer |
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Scope: | All Employees & Associates |
Revision Date: | March 10, 2021 |
Last Review Date: | June 9, 2023 |
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Ministry donations received by Reliant Mission belong to Reliant and are under the control of Reliant. Reliant employees may request that Reliant transfer MTD |
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funds internally out of the MTD account for which they’re responsible, to another |
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Reliant ministry account, including |
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another employee MTD account or Reliant church/project account. |
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MTD Transfer RequestsThe following rules apply:
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Requests from Active Missionaries and Exiting Missionaries
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Automatic Internal Fund Transfer Policy for MTD Accounts of Exiting Reliant Staff
When 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.
- Any amount over $10,000 is internally transferred to the Reliant church ministry or project fund most closely associated with the missionary's ministry
- The missionary may request an internal transfer amount per the above policy up to $5000.
- The remaining account balance will be transferred to the Reliant staff ministries fund upon final closure of the MTD account. (See 3 & 4 below for exceptions to this rule
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 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 $10,000.00; $5,000.00 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.
Example:
$14,000 | Remaining final balance in the MTD account of college church ministry/Sue Smith |
($4,000) | Excess of $10K internally transferred to Reliant church ministry fund for College Church |
$10,000 | Remaining balance after excess over $10K has been transferred - eligible for Sue Smith to request a MTD transfer, subject to general transfer policy. |
($3,000) | Sue Smith's request for MTD fund transfer to another Reliant account, approved by Reliant management. |
$7,000 | Total remaining amount transferred to Reliant staff ministries fund upon final closure of the MTD account. See 3 & 4 below for exceptions to this rule. |
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Note |
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If there was a previously approved MTD transfer request granted within the same calendar year that the missionary exited, no additional internal transfer request can be approved. Therefore, after the >$10K excess is internally transferred, the entire remaining fund balance will be internally transferred to the Reliant SMF. |
2. If at the date of exit the fund balance is less than $10,00
The missionary may request an internal transfer amount per the above policy up to $5000.
. After any approved MTD fund transfer request is applied, the remaining balance will be internally transferred to the Reliant Staff Ministry Fund.
Example:
$8,000 | Remaining final balance in MTD account of College Church Ministry/Ken Jones |
($3,000) | Ken Jone's request for MTD fund transfer to another Reliant account, approved by Reliant management. |
$5,000 | Total remaining amount transferred to Reliant Staff Ministries Fund upon final closure of MTD account.See 3 & 4 below for exceptions to this rule. |
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Note |
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If there was a previously approved MTD transfer request granted within the same calendar year that the missionary exited, no additional transfer request can be approved. Therefore, the entire remaining fund balance will be transferred to the Reliant Staff Ministries Fund. |
3. Year-Long Programs
If the missionary is involved in a one-year program experience, where the church or ministry has a fund and will have new participants each year, the full amount will be transferred directly to the Program Fund. AFTER the process and approval of any prior submitted MTD fund transfer requests, any remaining ministry fund balance will be internally transferred directly into project fund to be used in that ongoing Reliant ministry project fund. As of 7/1/2016 the only program participating this way is the Brentwood Baptist Church program.
4. Fully Funded ("One Check Donor") Missionaries
If a church or ministry is the single donor for a missionary, Reliant will return all excess funds in the MTD fund to the church. This allows the church to give extra amounts to keep the missionary being fully paid without shortchecks, and keeps Reliant from having a negative balance on the account.
Exception Requests:
- All exception requests for an internal MTD fund transfer above the $5,000 policy limit up to $20,000 will need to go to the Executive Management Committee (EMC) for review and approval.
- All exception requests for an internal MTD fund transfer above $20,000 will need to go to the Audit Reivew Committee (ARC) for review and approval.
Annual Board Reporting
At year end, Reliant management will provide a summary report for review by the Audit Review Committee. The report will list all internal fund transfers initiated by staff from MTD accounts that were approved by management under this policy for that year. This summary report will show the fund numbers and names of persons responsible for the funds involved, amount of the transfers, and the purpose behind the MTD fund transfer request. Note: only transfers initiated out of staff accounts should be included, transfers initiated from department/ministry funds need not be included on the report. As the transfers are complete the summary report should be updated.
View file | ||||||||
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Communication Info
Access the form below and share the completed form to payroll@reliant.org.
Requests from Exiting Employees
Requests for a Department Transfer
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Note | ||
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If you have questions about this process, the policy, or its parameters, please contact your Program Team Liaison (for MTD Transfer questions) or accounting@reliant.org (for Transfers from a Department) | ||
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If a Reliant missionary is transferring their employment to another 501(c)(3) non-profit ministry and thinks there will be an MTD account balance remaining upon their exit from Reliant, they should contact hr@reliant.org to discuss the process of transferring to another ministry and the possibility of contributing any remaining MTD fund balance to the new 501(c)(3) non-profit ministry. |