Let's be real. No one wants to talk about money. It's awkward and uncomfortable. But we know you have questions, and that's okay! We thought it might be helpful to explain things in a blog post in response to some queries about how monthly support works (and why our numbers are as high as they are), especially for those who are used to religious denominations sending out missionaries as employees of the denomination. First of all, monthly support includes our salary. All missionaries with ABWE, whether they are surgeons or mechanics, make the same salary. Our salary is $1560 per month. For our eight children, we receive $1625 per month plus a $400 monthly educational stipend (homeschooling and online school is pretty pricey!). Then we have a housing allowance of $650 a month. We pay a bit under $800 per month in self-employment Social Security. We pay $825 per month in health insurance, $25 in accident/life/vision insurance, $200 towards a medical expense account, and $243 monthly into a retirement account. The remainder of our monthly support in the order of $2050 goes directly towards ministry expenses, as missionaries, through their financial partners, contribute to things like the hospital, the radio ministry, and all of the other ministries in the area. So, as you can see, there's a lot going on, and truly our support partners are not just paying for the Fifes to be on the field, but also paying directly into the actual ministries in Togo, like the Hospital of Hope. Pretty neat, huh?
Friday, October 28, 2016
How Does Missionary Support Work?
Subscribe to: Posts (Atom)