This communication from Eastern Synod Treasurer, Keith Myra, includes:

• A reminder that the synod’s books for 2023 will be closing at noon on Monday, January 22nd, 2024,
• Some recent regulatory changes affecting year-end tax reporting,
• Some considerations when developing 2024 congregational budgets, and
• Information on a number of other financial matters that will be of interest to congregations.

To access this communcation, please press the link below or click on the “Download” button.

The federal government made changes in the fall of 2022 that impact some spending thresholds of charities and how Management and Administrative expenses relate to these calculations as well as a new provision that permits charities to make grants to non-qualified donees under certain circumstances.

In addition, this letter includes information about tax reporting for benefit plan premiums paid by employees and a reminder about AON insurance renewals