Finances

 In this message will be discussing some important matters related to finances.  Please, take a few minutes to read through this information very carefully.

1.     Introductions

Nathan Ogle runs the finances for all the summer projects. Please contact him if you have any questions about finances and expect him to send some information throughout the next few months. His email address is nathn.ogle@gmail.com.

2.     Receiving Funds How are things going with your fundraising for your project?  Most of you may already be doing quite well with this.  However, if you need a little help/advice, here are some links online from various websites with some good advice to help with fundraising for your project:

Advice Link 1  Link 2  Link 3  Link 4

As more people are giving toward your project, you may have run into the issue of to whom should your donors make out their cheques.  This is a bit more complicated, but certainly not too much to handle for you.  We cannot have the cheques written to the IMB directly, because we run these projects through a separate account.  However, we cannot have the cheques written directly to the CeLT, because it is a UK-based account.

So, here are some things that students have tried in the past.  

a.      Personal Cheques – You can have people simply write their cheques to you personally.  This tends to work all right for family and friends, who know you well.  However, people you don't know so well might prefer another option.  

b.     Local Help You can ask a local church or ministry, if they would be willing to receive donations on your behalf.  If a Church would agree to include a special place in their budget for say "Celtic Missions Projects," then your donors can make cheques payable to that Church and designate the gift to the "Celtic Missions Projects" fund.  Usually, the Church in this situation is willing to give a letter to the donor, recognising the gift for tax purposes.  Then, when all the funds are raised, the Church can send the funds as one transaction to us.  This is a very good way of handling the accounting for your project and the USA side of things.

c.     State Conventions Now, for those who are coming in conjunction with a State Baptist Convention (Tennessee, Mississippi, South Carolina, and Texas at this point), please, communicate with them, because they may have a particular way of handling this, and each state does things differently.

d.     E-Giving If you are not coming through a state convention, don't have a church/ministry willing to receive donations on your behalf, and you have donors uncomfortable with writing personal cheques directly to you, all is not lost.  Orange Park First Baptist Church has set up a means, whereby your donors can give directly to your project, and they can also receive a tax credit for it.  It is an e-giving option.  This option is available to all of you, who desire to use it.  Your donors simply go to the weblink, register for the site and follow the directions for giving toward a specific person (they will need to write your name in the designated box for that kind of specific donation). For more details on this option, see 3B below.

 

3.       What Next? – Well, in looking at all the options of how to transport funds from American accounts to our British one, we have three ways to go about this. Nathan has ranked these in order from most recommended to the least, although each are feasible options to consider.

a.     PayPal – Here is an way that everyone is able to get in order to make transferring funds back to you (if you have any leftover funds and you choose to receive it back to you personally). It is quick, easy, and virtually inexpensive. If you wish to send us your funds this way as well, use our email address celtpayments@gmail.com. We will receive your funds in a few days’ time and the fees should be under $10. PLEASE NOTE: If using PayPal, make sure to give yourself time to set it up connected to your bank account. It is through this way the fees are the least expensive. If giving by debit card, there is a higher percentage taken from what you transfer. Also, the fees go on top of what you need to send. In other words, if you are required to send $1,200 to us, you may be sending $1,205 or something. We will only receive the $1,200, but the fees may add more to it. PayPal will be very clear how much the fees are and how much will be charged to your account. Also, you ARE NOT paying for goods or services from us. All we do is use your funds to make arrangements on your behalf. Therefore, you will use the “send to family and friends” option.

b.     Direct Bank Transfer – Some of you may not have ever heard of this option, but it is a relatively painless procedure to send money internationally. Your bank may look at you funny when you ask to send money to a bank in the UK, but trust me, it works and is the most common way people send money to each other in Europe. Basically, all you have to do is go to the bank with our bank information, tell the bank you want X amount sent to it, and they insert the information and send it off. The one downside to this is the fee can be up to $50 per transaction. If you wish to use this method, please email Nathan for the bank information. All you would have to do is print it out, or take the PDF on your phone to the bank to present the information.

c.     E-Giving – We have a partnership with First Baptist Church in Orange Park, Florida who have set up a way to receive money on our behalf in America. Please use this as a resource if it would benefit you more to essentially pay with a credit or debit card online (just add $20 to cover fees for the church on your total accumulation of funds). They can receive donations to you by putting your name in the subject line and Orange Park will wire the funds to us on your behalf. However, if we do send money back, we will do it via PayPal or bank transfer. You can give funds to us this way by following the link here. This method is a good way if people want to get tax credit and pay online or send a cheque. However, this service may use more fees.

d.     Coming through a State-Convention – Check with your local convention with their policy on receiving funds and then have them contact Nathan Ogle at celtpayments@gmail.com.

4.     Extra Expenses – The support funds listed on your project cover ALL of your on-field needs (food, lodging, local transport, ministry supplies, etc.).  There are only two things that are not covered by these costs.  

a.     Airfare – You should be already aware of this (There is a separate message on travel concern).  

b.     Travel Insurance – the Task requires that you purchase for your trip.  I know that this is something that you might not have been expecting up front, but not only does the Task require that you have it, but it is really excellent insurance and dirt cheap for what you get.  If you get injured or have a loss/theft on the field, you will be very glad that you have it. You may be able to purchase insurance with the travel agent who will arrange your flights.
        If you are coming with a State Baptist Convention, please, check with them BEFORE you purchase the insurance.  It may be that they have their own arrangements for this.

5.     Deadline for FINANCES – The deadline your money must be given to us via bank transfer, FBC Orange Park, or sent to us via PayPal is one calendar month prior to the start of your trip.

a.     Exceptions may be given if there is a specific need.

 

Okay, this should get you going pretty well with your finances for your project.  Please, direct your financial questions to Nathan (whose e-mail is also included above).  Also, for those coming with a State Convention, please include your state convention representatives in all correspondence.  In this way, everyone will be "on the same page," so to speak.

We're excited to see you in a just a few months.

John Robinson

Team Leader – The CeLT