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Financial Principles

Accountability
At Teen Mania, one of our highest priorities is showing teens the importance of their relationship with God and others through accountability. And, we understanding that in order to teach this, we also must model it to this generation. For a non-profit organization, financial accountability is important to our integrity as a ministry, and we have developed a set of principles and guidelines to guide the way we use the resources God has entrusted to us.


Teen Mania Ministries Principles and Guidelines for Financial Accountability
1.    Teen Mania Ministries is a member in good standing with the ECFA (Evangelical Council for Financial Accountability) and adheres to all policies, procedures and reporting guidelines of the ECFA, IRS, and CCRA.

2.    All contributions received, regardless of amount, are considered sacred to the ministry to which God has called us. We commit to prayerfully seek ways that we can stretch each dollar given by our donors in order to make the greatest impact for the Kingdom. All contributions received for a designated purpose will be accounted for separately from the general contributions to ensure their use for the intended purpose. When gifts exceed the needs of a specific project, funds will be allocated to other equally important outreaches of Teen Mania Ministries.

3.    Teen Mania Ministries will provide a tax receipt in accordance with the rules and regulations of the IRS and CCRA for each contribution received.

4.    Teen Mania Ministries will not sell or trade our donor list to any other organization or institution. We will maintain the confidentiality and integrity of our donors at all times.

5.    Teen Mania Ministries diligently seeks to pay our vendors and suppliers within thirty days of receiving an invoice. We understand that timely payment is important to the success of those with whom we do business.

6.    At the annual meeting of the Teen Mania Ministries Board of Directors, the salaries for the President of Teen Mania Ministries and the Secretary of the Board of Teen Mania Ministries are set by the board members. The president and the secretary of the board are not present in the meeting when compensation matters are discussed.

7.    Teen Mania Ministries does not receive any grants or funding from any organization whose mission is contrary to that of our Lord and Savior Jesus Christ.

8.    Mr. and Mrs. Luce do not receive royalties for any product that is sold through the ministry or used for fundraising or other promotional purposes by Teen Mania.

9.    Teen Mania Ministries adheres to generally accepted accounting procedures and conducts an annual audit by an independent, national auditor to maintain strong financial accountability. Related party transactions also undergo a full detailed audit at regular intervals to ensure integrity of all operations. Executive team transactions are reviewed yearly by the Board of Directors. The Executive Team reviews all other transactions.

10.    Teen Mania Ministries places a high importance on maintaining healthy families and a strong level of personal integrity and accountability when serving in ministry, especially when traveling. Therefore, the President is encouraged to travel with one family member per ministry trip and at key times with his whole family. Executive team members are also strongly encouraged at key times during the year to bring their families with them on ministry-related travel.