ON-GOING FINANCIAL NEEDS
Our on-going financial support needs is approximately $5,000 per month, or about $60,000 per year.
Here is the breakdown of the costs that are included in our overall support:
Ministry Expenses: This is set aside to pay for ministry needs such as discipleship supplies, subsidies of local ministries, travel, supplies, cell phone minutes, Internet, equipment maintenance, and expenses related to keeping us connected to our ministry partners.
Salary: This covers our day-to-day living expenses (food, clothing, gas, rent, utilities, etc), tithing, gifts, and saving.
Medical Insurance: This covers our medical expenses both in Botswana and at home, as well as flight evacuation in case of an emergency medical situation.
Administration: This fee covers the costs to receive the funds, send receipts, forward us the funds, and handle the necessary accounting services. This works out to about 2-3% of our overall budget. Most missionaries (both international & domestic) generally have 10-15% go towards administration.
Furlough Reserve: This amount is set aside each month to cover our increased expenses while living back in the US, plus travel expenses to bring us home every few years.
Taxes: We are required to pay self-employment taxes to the IRS. We do not pay any state or federal income tax while we are overseas. However, we are required to pay state and income tax while we are in the US. We are blessed that we are not required to pay any taxes to the Botswana government.
Retirement: Funds are invested in our retirement account to ensure that we will continue to be cared for even into retirement. It used to be that missionaries would serve the Lord for many years and then return home to retire and have nothing saved.
Discover More About The Ministry about how you can partner with the ministry through your financial gifts.