Eligible ministers may have the church or other qualifying organizations designate all or a portion of their income as housing allowance. It is the minister’s and the employer’s responsibility to determine eligibility for housing allowance and to adhere to all applicable laws and regulations regarding such designation. The amount a minister can claim as housing allowance must be the lesser of:
- The housing allowance designated by their church or other qualifying organization; or
- Actual housing expenses (including mortgage payments, utilities, property taxes, insurance, furnishings, repairs, and improvements); or
- The fair rental value of the home (furnished, plus utilities).
At retirement, eligible Ministers for Tax Purposes may ask GuideStone to designate all or a portion of their retirement income as a housing allowance. A housing allowance can be designated for income only when that payment relates to contributions made as a result of the participant’s own earnings from service as a minister.