Giving at First Coppell

If you wish to give stock gifts to First Coppell by electronic transfer, please follow the procedures outlined below:

1. Contact your financial institution or brokerage firm and inform them that you wish to give a stock gift to your church. They will most likely ask you to submit the request in writing. Direct your broker to transfer the shares of stock to the church’s Charles Schwab & Co account: 

FIRST UNTD METHODIST CHURCH OF COPPELL
420 S HEARTZ RD
COPPELL TX  75019-5818

 Account #3295-1584
DTC #0164, Code 40

2. Contact the Director of Finance with the following information. (You may send an email or your broker may send a letter.)

• Date you initiated the stock transfer with your broker
• Name of stock you will be transferring
• Number of shares of stock you will be transferring
• Where you would like the funds to be applied (For example, general budget or building fund.)

It is important to communicate with the Finance Office because First Coppell will receive a record of the stock receipt and sale from Charles Schwab, but the record will not state your (the donor’s) name. First Coppell will need to know that you donated the stock in order to issue a letter for tax purposes.

Donors age 70 1/2 or older can make a rollover gift of up to $100,000 from their IRA.

Many Americans over 70 1/2 years old have Individual Retirement Accounts (IRAs), and are forced to take a required minimum distribution (RMD) each year. Very few know that rather than taking that RMD themselves (and paying taxes on the money withdrawn), they can give that RMD directly to a charity (like your church), and avoid paying any taxes on the withdrawal. Congress has made this tax provision permanent, in the tax bill passed by Congress last year.

The law only applies to IRAs. Proceeds from pension plans and 401K accounts cannot be distributed in this way. Click here to read more about this. Please consult your tax advisor before making a contribution in this manner.

The arrival of the stock transfer at Charles Schwab is the event which determines the date of the gift, not the day you contact your broker with instructions to transfer the stock. Please allow ample time for transactions to be completed before the end of the year.

This policy sets forth the conditions under which First Coppell may accept gifts. Givers are strongly encouraged to support primarily the unified general budget of the church. Subject to this policy, First Coppell may accept donations from its members and friends who want to donate to the work of the church other than through the general budget.

First Coppell desires to be careful to assure it is not involved in creating a tax-deductible contribution for some purpose that would not otherwise qualify for a tax deduction. For instance, the church wants to make sure that a donation to benevolence, missions, or ministries is for furthering the ministry of the Church. For this reason, First Coppell has set forth guidelines under which the church, as a tax exempt organization, may or will accept designated gifts

VIEW GIFT ACCEPTANCE POLICY (PDF)