Endowment & Other Ways to Give
WHQR's legal name is Friends of Public Radio, Inc. Our 501(c)(3) number is 58-1399301. All types of gifts may be send to 254 N. Front Street, #300, Wilmington NC 28401. Thank you!
The WHQR Endowment
In 2022, the Board of Directors of Friends of Public Radio, Inc. (WHQR) was proud to establish an endowment to underpin the long-term viability of public media in Southeastern North Carolina. The endowment will establish a stable and enduring source of future income, allowing us to fulfill our mission for the benefit of future generations.
Gifts specifically to the Endowment are especially valuable and appreciated, allowing us to invest together for the long-term. Please contact the station for more information and to facilitate your contribution to this important element of WHQR's future success.
Donor Advised Funds
A Donor Advised Fund is a charitable account that allows donors to give to charities and nonprofits over time. Donors can contribute cash, stock, or other assets to the fund and received a tax deduction. DAF’s are a good way to streamline giving by having one account to support multiple nonprofits.
When DAF gifts are made, it is possible that the sponsor organization will not share your information with us. Please send a note to memberservices@whqr.org when you’ve made a gift so we can thank you and ensure that your gift gets to where it is intended.
Stock Gifts
Gifts of appreciated stock, bonds, or mutual funds to WHQR may offer considerable tax advantages. Securities held more than one year may provide a two-fold tax benefit creating an income tax deduction and the avoidance of a capital gains tax that may have been due upon sale. Please consult your tax professional.
IRA Required Mandatory Distribution
The IRS requires individuals who invested in a tax deferred account, such as an IRA, to begin withdrawing funds upon reaching age 73. If you reach 73 in 2025, your first RMD is due April 1, 2026 based on your account balance on December 31, 2025. Your second RMD is due by December 31, 2026 and annually thereafter. Failure to comply may result in a 50% penalty.
Funds withdrawn from an IRA are counted as income. Taxable income can be partially offset by directing funds to a qualified 501(c) 3 nonprofit. By directing funds directly from the IRA to the nonprofit, you benefit the nonprofit and lessen potential federal taxes.
As always, consult your tax professional.
Qualified Charitable Donation
A QCD is a direct transfer of funds from your IRA custodian to a qualified charity. QCDs can be counted toward satisfying a required minimum distribution (RMDs) for the year, as long as certain rules are met.
In addition to the benefits of giving to a non profit, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.
Also, QCDs don't require that you itemize, which due to the recent tax law changes, means you may decide to take advantage of the higher standard deduction, but still use a QCD for charitable giving. (source: Fidelity)