It's the Season of Giving

​​It’s the Season of Giving! Many people make charitable donations at the end of the year.  If you’re thinking about making a gift to a local nonprofit, or looking for ways to give, we have tips to help you make the biggest impact (and avoid potential scams):

Learn About Giving

• ​​If you’re interested in making a gift to a charity, you’re in good company! 
• More than three out of every five Americans donate to a charity during the month of December.
• Giving in the month of December accounts for 25% of charitable giving in the United States.
• Don’t wait too long to give.  Envelopes postmarked after December 31 will count as 2025 giving.
• We’re here to help!  Have a lingering question?  The WPCU Sunshine Community Fund – the charitable giving arm of Wright-Patt Credit Union – can help guide you to a solution. Reach us at sunshine@wpcu.coop​.

Make the Biggest Impact​

I​​f you are considering making a charitable contribution before the end of 2024, consider these strategies to maximize the impact of your donation.

• Consider Monthly Giving: More and more people are getting involved in monthly giving. Making a smaller donation each month to a charity of choice.  The impact adds up over 12 months!
• Donor Advised Fund: If you’re looking to offset income or experienced another significant taxable event in 2024, you may want to consider giving to a Donor Advised Fund (also sometimes called a DAF).  A DAF is a giving vehicle to which you can donate using cash and checks, or non-cash assets like stocks and bonds. 
• Here’s a high-level overview of how a DAF works.  You open an account and make a gift to your DAF.  Since a donor-advised fund is a charity itself, you may be able to claim a tax deduction in the current​ year. From your DAF you can recommend grants to US charities that are qualified or you can leave some of the funds in the account for giving to charities at a later date.
• Retirement age? More things for you to consider!
• ​Once you’re 59 ½ or older, if you have tax-deferred accounts such as a 401k or IRA, you can potentially offset your tax liabilities through charitable donations if you itemize.
• Over 70 ½ and have a traditional IRA?  A Qualified Charitable Distribution (QCD) can help you direct up to $105,000 to an operating public charity from your traditional IRA.  Important to note, this excludes your DAF.  Also helpful to remember, you won’t receive a tax deduction for a QCD since the amount donated was not counted as part of your income.  
• ​What is a Qualified Charitable Distribution (QCD)? 
• ​Sometimes called IRA gifts or IRA Charitable Rollovers
• Donation directly from an IRA to a qualified charity
• Can be made by donors 70 ½ or older
• ​​Once you’ve reached 73, as an IRA account holder, you are required by law to withdraw a minimum amount annually – this is called a Required Minimum Deduction or RMD

Avoid Potential Scams​

• Before you donate – research the organization. There are reputable sites online where you can learn more about the charity you’re considering.  GuideStar and Charity Navigator​ are two easy to use resources.​
• Trust your gut – things to consider
• ​If someone calls you by phone and you’ve never given to that organization before, you may want to consider hanging up and calling their local office to verify the caller really represents the organization.
• If something seems fishy​ or too good to be true, verify information through the charity website.
• Avoid clicking any suspicious links that you may receive by email or text message, especially if you’ve not given to that cause previously. When in doubt, call the local organization or go directly to their website before sharing any personal information.​

​​The WPCU Sunshine Community Fund is the charitable giving arm of Wright-Patt Cred​​it Union, Inc ("WPCU"). As a 501(c)(3) public foundation, the WPCU Sunshine Community Fund works to improve and strengthen the financial security of vulnerable populations within our community. Donations to the WPCU Sunshine Community Fund​ represent a Beacon of Hope for children and families in our community.​