Pastoral Finances

“Compared to two years ago, the average senior pastor pay package and total compensation have decreased, while inflation continues to rise.” - Lifeway

“The Clergy Act is a bipartisan measure that would provide a temporary, voluntary opportunity for ministers who previously opted out of Social Security to opt back in.” - Baptist Press

“Tax preparation software packages often do not address three tax rules applicable to duly ordained, licensed, or commissioned ministers who are paid for services performed in the exercise of their ministry.” - C.Leaders

“Ministers living in church-owned parsonages may also incur housing expenses beyond their designated allowance. Churches should consider amending the allowance to cover these additional expenses for the remainder of the year.” - C.Leaders

“n a move lauded by Evangelical leaders, U.S. legislators have reintroduced the bipartisan Clergy Act. The act offers a way out for clergy experiencing buyer’s remorse after taking advantage of a special exemption in the tax code.” - MinistryWatch

“The survey findings revealed that many pastors struggle with their level of financial knowledge. Fewer than half said they were somewhat or very well prepared for financial matters by their college, seminary or first employer in ministry, while 48% said they put off thinking about financial matters because they don’t feel knowledgeable in that area.” - The Baptist Paper

Map data “comes from the Bureau of Labor Statistics. They have been tracking the median salary of clergy for at least the last 25 years and they make that data publicly available for download.” - Ryan Burge

“Whether staff-heavy or staff-light initially, most churches discover, in time, the need for a healthy blend of both paid and unpaid leaders.” - Desiring God

“When understood and implemented fully, this can be a lifelong tax advantage for all ministers. Unfortunately, there’s still a lot of misunderstanding about how it works. Here are the basics of what you need to know” - C. Leaders

“The recognition of universal struggles, however, doesn’t negate the existence of some unique financial constraints on ministry families. Every vocation has its own set of ‘occupational hazards.’ Let me highlight two that operate unconsciously in the social architecture of a local congregation.” - TGC