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Giving

Giving & Serving

Giving from the heart is a part of every Christian’s life.  Giving time, talent, service, witness and financial gifts are also vows made when joining First Methodist Church of Carrollton.  Each of these vows is important to the life of the church and the individual making the promises. The opportunity to make a difference in the lives of others inside and outside the church is reason to celebrate in each of these areas of giving. A gift given out of generosity or obedience will make a difference in the lives of people locally and throughout the world.

SOURCE OF FUNDS—God’s provision for First Church is through the tithes and gifts of the people in response to God’s blessing in their lives.

ONLINE GIVING—The opportunity to give a one time gift or schedule multiple gifts is provided for you—Click here for further information.

ACCOUNTABILITY—The Finance Commission, elected annually from the church membership, is charged with oversight of the budget and expenditure of all church funds, carrying out the ministries and priorities of the Church Council, the highest elected body within the congregation.  Any member of the congregation may receive a copy of the annual budget or the latest financial report upon written request to the business office.  Contact .

MISSIONS GIVING—Designated gifts for missions, as well as a percentage of the budget, go to missions projects, Christian organizations, and to an approved list of missionaries throughout the world.

REPORTS—Statements are provided periodically throughout the year (and at year’s end for tax purposes) to those who make financial gifts by check, envelope, or online giving.  If questions arise about gifts given, please contact the business manager, Debbie Sherrell in the church office at 469.568.1240, or email .

DESIGNATED GIVING—First Church welcomes designated giving for approved projects or ministries.  These special gifts may include missions, capital improvements, building projects, Sunday School donations and others.  Questions may be directed to Debbie Sherrell in the church office at 469.568.1240 or email .

BENEVOLENCE FUND—An emergency fund, made up of special gifts and proceeds from the sale of “Scrip Cards,” is used to assist non-members.  For further information, click here, or contact Keva Green at 469.568.1240 or email at .

EMERGENCY FUND—An emergency fund exists to assist First Church members when unexpected, serious financial needs occur.  Contact Keva Green at  or at 469.568.1240.

 

ADDITIONAL WAYS TO GIVE

YEAR-END GIFTS—Year-End gifts provide a special opportunity to support First Church ministries.  According to IRS regulations, all gifts must be received in the church office before midnight on December 31, or must be postmarked before the end of December, to be deducted in the current tax year.  (The date written on checks does not determine the tax year in which the gift is recorded.)   For further information about year-end gift possibilities, contact the church office at 469-568-1240, or contact Debbie Sherrell at .

STOCKS & MUTUAL FUNDS—Stocks and mutual funds may be given directly to the church.  Securities that have been held for more than one year may enable the donor to deduct the full fair market value of the securities and avoid payment of any capital gain tax.  If the securities are sold first and the proceeds given to the church, the donor will have to pay capital gain taxes to the I.R.S.  By planning ahead, donors can take full advantage of the tax benefits allowed by the government.  Because tax laws change, it is imperative donors contact their personal accountant for current information and assistance.

PERSONAL PROPERTY (Gifts-in-kind)—Equipment and furniture are sometimes given to the church.  All gifts-in-kind must be approved by the church’s Board of Trustees.  Donors are sometimes directed to ministries other than First Church, where the gifts-in-kind may be better utilized.

REAL ESTATE—Real estate may sometimes be given to the Church.  Such gifts must be approved by the church’s Board of Trustees.  The same tax benefits as giving appreciated securities apply to real estate.  If the property has been held for more than one year, the donor can usually take an income tax deduction for the full fair market value and avoid capital gain tax on the appreciated portion of the property.  It is possible that other benefits would include savings in estate taxes and avoiding probate.  Tax laws change, so donors should contact their personal accountant for current information and assistance.

LIFE INSURANCE—Insurance policies can benefit the church in some circumstances.  If the original purpose of a life insurance policy no longer exists, a donor can make the church the owner and beneficiary of the policy and the donor would receive a tax deduction.  The deduction would be immediate, and the amount of the contribution would typically be the replacement value or cost basis of the policy.  Because tax laws change, donors should contact their accountant for current information and assistance.

GIFT ANNUITIES—Donors receive an immediate tax deduction on irrevocable gifts to the church through the use of gift annuities, while receiving fixed income payments from their gift for the rest of their life. Because tax laws change, donors should contact their accountant for current information and assistance.

WILLS, BEQUESTS & ESTATE PLANNING—Wills and estate plans can provide charitable gifts to First Church, a 501(c) (3) organization.  Such gifts may enable the donor to steer clear of estate taxes. A donor’s personal lawyer should be consulted to be sure accurate information is provided about the church’s specific name and address.  The church office should also be notified if it is already included in a will or estate plan.  Retirement plans will be considered part of an estate at death, but can also be deductible from the estate as a charitable gift, if correct planning has been completed.  Because tax laws change, donors should contact their accountant and lawyer for current information and assistance.

MATCHING GIFTS—Payroll deductions and other gifts are sometimes matched by businesses, which allow their employees to make charitable gifts to 501(c) (3) organizations. Because the church is recognized by the I.R.S. as a tax-exempt organization under section 501(c) (3), donors should contact their company’s human resource, payroll, or matching gift departments to see if this option exists and to check for restrictions placed on those gifts or deductions.   Because tax laws change, donors should contact their accountant for current information and assistance.