This is the second in a series of updates on the Financial Stewardship at Maple Grove United Church. We intend to issue them occasionally to give members and adherents information relevant to your giving. This issue provides the details of the information in the Stewardship Sunday Presentation.

Maple Grove is Priceless

We are asking for your generous financial support to meet our operational needs. We understand that there is no price of admission. We understand that times are not without difficulty. We understand that there are members with limited means. We understand that you have given generously to the Renovation Project and are being asked to finish that job.

But we believe and, further, we believe you believe, that the work done, both within and outside the walls of the Church, is priceless. The Renovation Project will soon be funded (we pray). We ask that you do not abandon the operational needs of Maple Grove.

The Need is Urgent

Our Budget this year shows a $50,000 shortfall before the application of reserves. While there area a few special expenses, the most concerning issue surronding this is the drop in givings. On a fiscal year basis:

1. last year, MGUC were down 8% in operational givings from $291,526 to $269,257; and

2. year to date, MGUC is down a further 10%.

Plan For A Return to Financial Health

Your Stewardship Committee has developed the following plan to bring us back to financial health:

1. to provide the members with detailed information so that they can judge the needs of the Church;

2. to establish objectives of 10/10/10 in 2010; and

3. to establish a target giving amount and request that members consider meeting, or at least move toward, this amount.

Stewardship Goal is 10/10/10 for 2010

10/10/10 for 2010 means:

1. Receive 10% more, on average, from all of our existing donors (PAR and non-PAR);

2. Have 10% more givers on PAR (Pre Authorized Remittances); and

3. Have 10% more of our Congregation give us financial support.

Target Amount

We have set this amount at $1,500. We believe this is about the amount for a committed household of ordinary means to be paying their proportionate share of the cost of operating MGUC.

How Do We Calculate the Target Amount

The budgeted operating costs of MGUC, net of rent are:


Total	Per Giver (assume 300)
People	282,895	942.98
Property	32,834	109.45
Overhead	36,015	120.05
Worship	22,850	76.17
Total	374,594	1,248.65

Some of our donors are casual only. Others are of limited means. We have therefore rounded the number to $1,500.

We Believe The Target Amount is Affordable

We realize that this is not an inconsiderable amount. But when we look at the after-tax equivalent of the Target Amount plus a modest $15 per month for the Mission and Services Fund, it is about 2 medium Tim Horton coffees a day for a household or 4 Starbucks Venti Cappuccinos. Here are the numbers:


	Tax Credit Amount
	0.00%	40.16%	42.39%	46.41%
Daily	$4.60	$2.75	$2.65	$2.47
Weekly	$32.31	$19.33	$18.61	$17.31
Monthly	$140.00	$83.78	$80.65	$75.03

What is the Tax Credit and Who Does it Help

Both the federal and provincial governments offer a generous tax credit. It is not refundable so it only helps those who would otherwise pay taxes. Unused donations can be carried to up to 5 future years.

You can only use donations up to 75% of your income.

The first $200 of annual givings (of all kinds - e.g. MGUC, Ride Against Breast Cancer, etc.) has a less generous credit.

How is it Calculated

Most People think the credit is calculated according to one's tax bracket. While there is some truth to this, for all but those making over $125,000, it is calculated at a higher rate than one's tax bracket.

Federal
Surprising to many, the Harperites are more generous than the friends of Mr. McGuinty. The highest tax rate that the federal government applies (starting at about $125,000) is 29%. But the credit for taxpayers at all brackets is --- 29%.

Ontario
Ontario seems to do the same thing with their notional top tax rate of 11.16%. So if you add them together, you always get the 40.16%. But Ontario has a surtax (tax on tax) which raises the value of the credit. The first kicks in around $65,000 to $70,000 and is at 20%, raising the combined value of the credit to 42.39%. If the taxpayer earns about another $10,000, the surtax jumps to 56%, further raising the combined value of the credit to 46.4%.

Your Committee

Your Committee consists of Al Wheable, Jackie Ma, and Cameron Serles, assisted as we all are in our financial efforts by the intrepid Carol Kennedy. Please talk to us about this Update of any stewardship matters or send us an e-mail at mguclib@gmail.com.