WHAT CAN I DO WITH MY SSM:
WHAT CAN I DO WITH MY SSM:
Understanding private vs public and the supporting information behind not having a 501 (c)(3) Corporate Church. This allows us all to stay in the private operating what belongs to GOD.t”….according to the IRC financial donations to an unregistered, unincorporated church is automatically tax-deductible Title 26 § 170-B!”
Moreover, it states, “Title 26 § 508 provides that churches are not required to apply for recognition of § 501(c)(3) status to be exempt from federal taxation or to receive tax-deductible contributions. Churches are automatically exempt from Federal income tax, and contributions to churches are deductible by donors under section 170.”
Once you know the benefits of the Self Supporting Ministry, you will wonder why you have not heard about this type of organization sooner. This type of organization allows you the FREEDOM to operate your organization as you feel God leading without violating any laws.
The cost of a 501c)(3) can be very costly. With a Self Supporting Ministry, there is only a one-time donation. Not only is there only a one-time donation, but the cost associated with your “New” organization is tax deductible. You get it for “FREE”.
This is the perfect place to park your exchange without liability. If you are strapped for cash, and don’t want to put your funds in your name due to personal liability or for other reasons. You might consider getting one of these organizations done and parking your funds here. This is also one of the quickest ways to get your Humanitarian project up and running instead of having to wait months to get approved.
Because wherever conflict occurs an SSM can respond quickly to help people who are affected. Poverty is a problem that all seven continents on this Earth face. Though the poor people in America are living a posh existence compared to the poor people in other countries, poverty, and homelessness still affect a large population of our country as well as others. Your SSM can go right into ministerial action offering assistance without any restrictions of involvement from the IRS.
Your SSM can meet the immediate material needs of distressed people and ensure that the consequences of the conflict, such as disease, hunger, loss of income, and injury, do not jeopardize the livelihoods of those who are affected. Depending on the nature of the crisis, your SSM can provide help in material relief (such as medicine, food, cash, and similar) as well as repairing water supply plants or building medical facilities. In addition, the organization trains medical and other staff to be able to provide immediate assistance on the field and builds capacities of local institutions to be able to provide essential services such as health care, sanitation, and water.