Financial Guidance
2012 Stipend
The Trustees have fixed the Home Mission Stipend for 2012 at £20,000, an increase of 1.78% on the 2011 Stipend.
The Manse value used in the pensionable income calculations for ministerial members of the Baptist Pension Scheme has been set at £6,000 from 1 January 2012.
Deposit rates
The Baptist Union Corporation currently (from 1 April 2012) pays interest at 0.90% on money deposited by churches in the Baptist Union Loan Fund. The current rate is advertised each week in the Baptist Times. The deposits assist the provision of loans to churches, and are welcomed by the Corporation.
Loan rates
The Baptist Union Corporation is willing to lend at 3.80% (from 1 April 2012) to churches buying, extending or renovating buildings or manses, subject to suitable repayment arrangements being in place. This rate is also subject to change in line with national interest rates. The current rate is advertised each week in the Baptist Times.
Mileage rates
The Government announced an increase to the recommended mileage rates as from 6 April 2011. For the first 10,000 miles in each tax year, the rate is 45p and for mileage over 10,000 the rate is 25p.
Charity Numbers
Many churches assume that as they are in membership of the Baptist Union they are able to use the registered charity numbers for the Baptist Union Corporation and the Baptist Union of Great Britain. This is not the case. Churches that are regarded as ‘excepted charities’ under section 3(5) of the Charities Act 1993, as amended by the Charities Act 2006 do not have a charity number at all, and should quote the Charities Act reference above.
Those churches that have registered due to their level of income should quote the number issued to them by the Charity Commission.
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