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Page History
| Policy Name: | MTD Fund Transfer |
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| Scope: | All Employees & Associates |
| Revision Date: |
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| March 10, 2021 | |
| Last Review Date: | June 9, 2023 |
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| Excerpt |
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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 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. |
Requests come from active missionaries and exiting missionaries.
Requests from Active Missionaries and Exiting Missionaries
MTD Transfer RequestsThe following rules apply:
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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 within Reliant 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 $5,000.
- 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 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.
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. |
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If the missionary is involved in a one-year intern ministry program experience, where the church or ministry has a Reliant Ministry Project Fund and will have new intern participants each year, the full amount remaining in the intern missionary MTD fund will be transferred directly to the corresponding Reliant Ministry Project Fund. AFTER the process and approval of any prior submitted missionary 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.
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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") Missionaries
If a church or ministry is the single donor to Reliant for a missionary and the missionary is exiting employment, Reliant will contribute all remaining funds in the exiting MTD fund to another Reliant Missionary MTD/Dept Fund (or MTD/Dept Funds), at the request of the church or ministry. This allows the church to give additional donations to Reliant to keep the missionary fully paid without experiencing short-checks, and keeps Reliant from having a negative balance in the MTD account. If the church or ministry would prefer to have excess funds returned to the church/ministry, they should contact hr@reliant.org to discuss options that may be available.
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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 it's its parameters, please contact finance@reliant.org |
| your Program Team Liaison (for MTD Transfer questions) or accounting@reliant.org (for Transfers from a Department). |
