CU Executive on Religious Organization Financial Accountability Panel
Mark Holbrook, president/CEO of Evangelical Christian Credit Union, is one of 14 members of a new commission created to provide input on accountability and policy issues affecting religious organizations.
The Evangelical Council for Financial Accountability said the Commission on Accountability and Policy for Religious Organizations will address whether churches should file Internal Revenue Service Form 990, the same annual information return that other non-profits must file and whether legislation is needed to curb abuses of the clergy housing allowance exclusion.
Other issues include whether the current prohibition against political campaign intervention by churches and other nonprofits should be repealed or modified and whether legislation is needed to clarify tax rules covering "love offerings" received by some clergy, according to the ECFA.
The commission was formed following a staff report issued in January by U.S. Sen. Charles Grassley (R-Iowa) that focused on the financial practices of high-profile religious organizations, the ECFA said.
After releasing the findings of his three-year inquiry of six media-based Christian ministries, the senator asked ECFA to spearhead an independent national effort to review and provide input on major accountability and policy issues affecting such organizations.
Members of the commission were scheduled to meet via teleconference this week. Its first meeting, May 19, will be followed by quarterly meetings for up to three years, the ECFA said.
The $1.2 billion Evangelical Christian CU in Brea, Calif. serves nearly 12,000 members.