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Reliant missionaries may request the Reliant Finance Department to transfer funds internally out of the MTD account for which they’re responsible to another Reliant ministry account, including another missionary MTD account or church/project account. The request is usually made due to an ample fund balance in the missionary MTD account and a financial need in another. 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 Reliant StaffWhen 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. Example:
2. If at the date of exit the fund balance is less than $10,00
Example:
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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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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. |
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