At this time of year, your inbox and mailbox are probably flooded with requests from various charities and nonprofit organizations asking for funds.

You may see bell ringers outside your grocery store, get requests from your local public school or see opportunities to give on social media, too.

This time of year is critical for nonprofit organizations — it's when they raise most of the money that will help sustain them and their mission throughout 2023.

But did you know that giving to a charitable organization can be a gift to yourself, too?

Most people remember to deduct the generous donations they’ve made to charity over the past year from their taxable income, but you may not realize that you can also write off the expenses you incur while doing the good deeds. For example, the cost of ingredients you purchase for a meal you regularly cook for a soup kitchen can be deducted from your taxable liability, as can the cost of gas for any miles you drove for charity.

Make sure you request receipts and keep records from your donations so you can take advantage of tax breaks from the good things you do!

If you don’t feel like you have a lot of money to give, you can give something else that’s valuable: Your time. With just a small donation of your time to a local nonprofit, shelter or charitable organization, you can help alleviate someone’s suffering.

You can volunteer at a soup kitchen, help bring cheer to hospitals, offer to babysit for a couple who is going through hard times so they can have a night out to themselves or make a habit out of visiting a lonely person. You can brighten someone’s day with your presence alone!

If you aren’t sure where to start, head over to volunteermatch.org, a website that matches people with good opportunities to help in their community.

There’s one other thing you can do, too: CommonWealth One Federal Credit Union is excited to partner with you in making a big difference in our communities. Now through Dec. 15, you can be a hero by nominating the charity, not-for-profit organization or community interest project that means the most to you in our contest for a chance to donate $10,000!

Here’s how to enter:

1.  Simply complete the entry form on our website and tell us your favorite local charity and why.
2. If selected as one of our contest finalists, we will help you make a video to share their story.
3. Then, in late March, your fellow members, family and friends will have an opportunity to vote for your video on social media. The charity of the video finalist with the most votes will receive a $10,000 donation!

Be a hero for your favorite cause by entering our Big Giver Contest today! Hurry, the deadline to enter is December 15th!

Have a wonderful giving season!