For the first time in tax history, as of January 1, 2010, all non-profits--including religious organizations--, must comply with new IRS 403(b) regulations or risk plan termination, possibly subjecting their employees’ retirement assets to tax, penalties, and interest. Is your ministry prepared? The Summit Center's new 403(b) compliance package will protect your ministry. To find out more information or order the package, click here.
Summit Center News
Summit Center consulting package addresses new IRS 403(b) changes for 2010
June 10, 2009
Contact us to find out how the Summit Center can save you time and money through our affordable, customized, turn-key 403(b) compliance package.
WARNING: If the IRS comes to your church or ministry after January 1, 2010, will your retirement funds be safe?
Beginning January 1, 2010, sweeping regulations governing 403(b) will go into effect, taking many 501(c)3 organizations by surprise leaving their employee's retirement funds liable to taxation. Your organization needs to be protected by a set of compliance documents designed to meet the requirements of the new IRS regulations.
The Summit Center Retirement Plan Package will protect your employees' 403(b) accounts by providing you with an affordable documentation package prepared by lawyers and customized for your organization. Begin the process of ordering the Summit Center's Retirement Plan Package for your ministry by clicking here.
Nick Yzzi is the Director of Consulting for the Summit Christian Leadership Center. He has been in ministry for over 20 years and was previously the Director of Finance and Administration for Calvary Baptist Church and Calvary Baptist Theological Seminary. He started his career with 6 years as an auditor for the Internal Revenue Service and later moved to the Tax Department of a regional CPA firm for 9 years before entering ministry. For nearly 40 years, he has been actively involved in helping organizations reach IRS compliance.
"As Summit Center Director of Consulting, I have been assisting ministries in a variety of ways with their administrative and financial concerns. A large part of my work is helping organizations ensure compliance with the many United States regulatory authorities. One of the most critical developments affecting ministries in recent years is the new IRS regulation regarding 403(b) retirement plans.
In the past, the IRS allowed these types of plans for churches to be virtually unregulated. Now, however, it has stepped up its efforts and has significantly changed the regulations to force non-profit 403(b) plans to follow guidelines similar to those followed by commercial plans, such as 401(k). So, for the first time in tax history, all non-profits—including religious organizations—must comply with these new regulations by December 31, 2009, or risk plan termination, possibly subjecting their employees’ retirement assets to tax, penalties, and interest."
See the Summit Center's 403(b) Brochure to view the full explanation of these IRS changes.
Simulation Training for Pastors
May 14, 2009
Do you ever wonder what it is like to work with you?
We all approach our work filled with good intentions. Sometimes, however, our good intentions are interpreted by others around us as something altogether different. Why does that happen? This is one of many questions that participants in CBTS’s Sweetbriar Baptist Church ministry simulation have an opportunity to explore.
On July 23-24, 2009, the Summit Center is offering this simulation training experience here at CBTS to pastors and alumni. The Sweetbriar Baptist simulation helps participants evaluate a broad range of skills, from time management to strategic thinking. Personal, one-on-one feedback from seasoned pastors helps each participant identify specific areas of strength as well as opportunities for development.
CBTS graduate Nathan Mestler said of his experience with Sweetbriar Baptist, “The simulation experience opened many dark doors and answered many lingering questions. While seminary training equips us with theological, exegetical, and hermeneutical principles, simulation training fills the gap in leadership development.”
Pastors are encouraged to join us for this powerful and enjoyable training experience. The cost is $199, and each day will begin at 8 a.m. and end at 5 p.m. Deadline for registration is July 10, 2009. Call or email Bethany Tandon at 215-368-7538 ext. 139 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it
to register.
Summit Center Update
June 9, 2008
Eight CBTS students took part in the first “official” offering of the new Sweetbriar Baptist Church ministry simulation during the week of January 21-25, 2008. Participants took on individual roles of the leadership team at the fictional church and experienced a real-time “day in the life” of the multi-faceted ministry.
The simulation challenged the students to assess Sweetbriar’s current condition (spiritual, organizational, and financial) and develop a strategy for the future of the ministry. Then, as a team, they were faced with a myriad of day-to-day issues regarding administrative, theological, legal, and interpersonal matters needing attention at the church. The highlight of the simulation came on the final day when the team received feedback on their leadership of Sweetbriar. Feedback focused on the team’s overall effectiveness in guiding the church. The students also met in individual coaching sessions with the experienced pastors who observed them as they worked as part of the ministry team.
Effective January 1, 2010 the IRS has set the standard mileage rate for the business (ministry) use of vehicles at 50 cents per mile.
The standard mileage rate is significant for two reasons....
The stock market has taken a large chunk of your retirement assets. DON’T let the IRS take the rest! A New IRS Retirement Plan deadline is coming soon: December 31, 2009.
All ministries with existing...
The Summit Center provides training to pastors, ministry leaders and seminary students in a variety of areas including:
Church simulations--provides students and pastors with real...
A great way to give to the Lord and also save taxes is to donate appreciated stock (stock whose cost is less than its current value) instead of selling then donating the net cash proceeds after taxes.You not...
Summit Center
"As Summit Center Director of Consulting, I have been assisting ministries in a variety of ways with their administrative and financial concerns. A large part of my work is helping organizations ensure compliance with the many United States regulatory authorities. One of the most critical developments affecting ministries in recent years is the new IRS regulation regarding 403(b) retirement plans. 
Eight CBTS students took part in the first “official” offering of the new Sweetbriar Baptist Church ministry simulation during the week of January 21-25, 2008. Participants took on individual roles of the leadership team at the fictional church and experienced a real-time “day in the life” of the multi-faceted ministry.