National Philanthropy Day—celebrated each year on Nov. 15—is a time to honor the generosity and community spirit that strengthen organizations like the River Falls Public Library. We are deeply grateful to everyone who has contributed to the Renew and Inspire Capital Campaign, helping us build a library that will serve and inspire generations to come.

As the year draws to a close, it’s also an excellent time to consider making a charitable gift before Dec. 31 to potentially reduce your taxable income. The River Falls Public Library Foundation, a 501(c)(3) nonprofit organization, welcomes your support in many forms.

I’m Steve Schroeder, and I co-chair the capital campaign for the River Falls Public Library along with Tom Westerhaus. I want to share with you an easy and tax-efficient way I contributed to the campaign—a Qualified Charitable Distribution (QCD). It’s a relatively new option, and I want others to know how simple and beneficial it can be.

If you are 70½ or older and have an Individual Retirement Account (IRA), you can instruct your IRA provider to transfer funds directly to the River Falls Public Library Foundation. This transfer counts toward your Required Minimum Distribution (RMD) for the year and is not included in your taxable income. In other words, it allows you to support the library tax-free.

Keep in mind that if you instead prefer to take a traditional charitable deduction, you’ll need to itemize and exceed the standard deduction amount. 

Please consult your financial and tax advisors, making sure this all makes sense for you as it did for me.

If you’re retired from a company that offers a matching charitable gift program, your donation can make an even greater impact—increasing your support for the library’s future.

As you plan your year-end giving, please consider a contribution to the Renew and Inspire Capital Campaign. It’s an easy, tax-efficient way to make a meaningful difference in our community.

Thank you for supporting your library—today and for generations to come.