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15665 - How to DRIVE-HOME Your GOD-given PURPOSE in Life with a Microfoundation(TM)

How to DRIVE-HOME Your GOD-given PURPOSE in Life with a Microfoundation(TM)

by: Doyle Weaver, Esq.

How are you going to DRIVE-HOME GOD's PURPOSE IN YOUR LIFE? Get more active at church? ... or at work? ... Start a church? ... or a ministry?
CHURCH ACTIVITY
There are books on how to find GOD's purpose. Once you find GOD's purpose for your life, do you become more active in church? There's a difference between a church and the Church. A church congregation is led by an individual fulfilling THEIR purpose in life. If that is YOUR purpose in life, then you should start your own Church.
JOB ACTIVITY
Can Christians pursue their purpose through a secular job? In some jobs, you can meet new people all the time and nothing is wrong with sharing the Gospel with these people. However, most jobs limit Christians to a small pool of fresh contacts. Most employers frown upon on-the-job witnessing. Usually, Christians rely almost exclusively on jobs for financial support. When a conflict arises between job and purpose, job usually wins.
CHURCH STARTUP
A congregation is the principle element that defines a church. According to IRS definitions, a church is a group of members meeting regularly with a religious purpose. Most church members expect tax deductions for their contributions. Unless you have a ready-made congregation, this may not be an option.
MINISTRY STARTUP
A purpose in life is centered around talents or gifts GOD provides. A Christian can use their talents or gifts in their local church or start their own Christian ministry. Which option do you think is more likely to provide a productive and fulfilling life? All talents and gifts can be adapted to a Christian ministry. Starting your own Christian ministry can have some obstacles, and they can all be overcome.
NEW STRATEGIES
If you're not starting a church, you don't need a congregation meeting on a regular basis. Though you don't need members, you do need financial support. The following is a member-free strategy to start your own Christian ministry and drive-home your GOD-given Life's Purpose!
MICROFOUNDATION(TM)
Create a nonoperating private foundation. You don't need to be rich to start your own private foundation. I've funded new private foundations for less than $200.00 in cash. I've coined a word for Christian nonoperating private foundations, I call them Microfoundations(TM). Unlike a church, a Microfoundation(TM) doesn't need public support. This is why Microfoundations(TM) don't need congregations or regular meetings. All you need is a religious purpose and an IRS application for a letter of recognition. Some states also require recognition for state tax exemption.
DONOR BASE
While your Microfoundations(TM) letter of recognition is pending, you can solicit contributions. (Check for local/state rules on solicitations.) Contributions are retroactively tax deductible up to 15 months back to the date of organization. Microfoundations(TM) can have as few or as many donors as necessary, no minimums or maximums. You can personally contribute as much as you desire. Each individual's tax deductible contributions are limited to 30% of their adjusted gross income.
FOUNDATION INCOME
One of the great things about private foundations is they're generally operated on income received from investment income (endowment). Start investing your foundation contributions and build up an endowment. In addition to investment income, there are certain types of business income, like royalties and real property rents that are allowed giving your foundation even more tax free income.
MINIFOUNDATION(TM)
Microfoundations(TM) (nonoperating private foundations) can't distribute funds directly to individuals in pursuit of tax exempt purposes. Operating private foundations can. If you want to be an employee of your foundation, first convert your Microfoundation(TM)to an operating foundation. I've also coined a word for Christian operating private foundations, I call them Minifoundations(TM). While building a Microfoundation(TM)donor base and/or endowment, develop an operating foundation budget and plan. Submit the IRS application for reclassification of your Microfoundation(TM)to a Minifoundation(TM).
MOORING IN SAFE HARBORS
Private foundations are private as opposed to public charities, so IRS rules are stringent with penalties for violations. Start out with a Microfoundation(TM)using safe harbors that keep you out of trouble until you get a grasp of the rules. Convert your Microfoundation(TM)as soon as you develop a plan and a budget necessary for operating foundation classification. Finally, after you acquire the donor base or endowment sufficient for financial support, employ yourself in your Minifoundation(TM).
NONOPERATING FOUNDATION DISTRIBUTIONS
Microfoundations(TM)can't make direct distributions to individuals so they make qualifying distributions(a small percentage of income)to public charities or operating foundations. You contribute normal tithes and offerings to your Microfoundation(TM)(tax deductible). Your Microfoundation(TM) can make a qualifying distribution to your church or favorite ministry. Churches are publicly supported tax exempt organizations.
OPERATING FOUNDATION DISTRIBUTIONS
Minifoundations(TM)(operating foundations) make contributions directly to individuals for performance of the foundation's tax exempt purpose. Reasonable and necessary salaries and benefits for staff are allowed as qualifying distributions. Like nonoperating foundations, they can also make qualifying distributions to other tax exempt entities.

About The Author

Doyle Weaver, Esq. earned his Juris Doctor degree in 1990 from Regent University School of Law, Virginia Beach, Virginia. - visit Microfoundations(TM) http://microfoundations.com or sign up for FREE 7-part mini-course at: http://piers.microfoundations.com

This article was posted on October 20, 2004

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