Dear South Carolina Synod Friends on Congregational Councils,
We want to thank Mrs. Cribbe, Council President at Holy Trinity, Anderson for bringing an important legal matter to our attention regarding the Corporate Transparency Act and the need for non-profit organizations to file a “Beneficial Ownership Information Report” with our Federal Government. Initially we understood that this was required of the South Carolina Synod and all congregations, but thanks to the work of our Synod Financial Chairperson, Cindy Davis and her CPA firm, we learned the good news that “ALL 501(c) organizations, including those formed under the umbrella of one central 501 (c), such as ELCA churches, ARE EXEMPT FROM FILING.”
You can look this up for yourselves here: https://www.wolterskluwer.com/en/expert-insights/nonprofit-organization-considerations-for-fincen-boi-reporting-requirements
There is much misinformation floating around. We want you to have the best information we have and we hope this will give all Council leaders some peace of mind as you navigate this topic.
Peace,
+Bishop Ginny
