Ask the Accounting Community

Church General Account or Church Foundation ?

  • 1.  Church General Account or Church Foundation ?

    Posted 05-14-2019 11:49 AM
    Can a church accept money from a politician ?   If so, which bank account should It go too?  
    General account or Church foundation ?


  • 2.  RE: Church General Account or Church Foundation ?

    Posted 05-19-2019 10:08 PM
    Yes. A church can accept money from anyone as long as either no strings are attached or there is a designated purpose that aligns with the purpose of the church. As far as what account: If there is no designation, it would go to the General Fund; if there is a designation, it would go to the Fund for which the designation is appropriate; if the church has a Foundation and it is designated for it and consistent with its purpose, it would go there. In each case, it would be a contribution.​

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    Paul Kimmel CPA
    Other
    Las Vegas NV
    United States
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