All Saints’ is one of the five member schools of Arizona Episcopal Schools Foundation (AESF) – a Student Tuition Organization. School Tuition Organizations (STOs) are charitable organizations that raise tuition scholarship funding for eligible students who enroll in Arizona private schools.
The State of Arizona allows individuals to have control over how their tax dollars are spent. Taxpayers with Arizona tax liability have the opportunity to redirect a portion of their tax obligation to All Saints’. The Tuition Tax Credit is a dollar-for-dollar credit, and when you designate ASEDS, you are providing direct and essential funding to our students who qualify for financial assistance.
ARIZONA TAX CREDIT INFORMATION FOR INDIVIDUALS
The deadline to redirect your 2019 tax dollars is April 15, 2020.
Take the Credit!
Under Arizona statute, an individual may claim a tax credit for making a donation to an STO. The maximum credit amount that may be taken for tax year 2019 is $569 for single, unmarried head of household and married filing separate filers and $1,138 for married filing joint filers. The tax credit for contributions is claimed by the individual taxpayer on Form 323.
For example, if your state income tax obligation is $1,500 and you contribute the maximum $1,138, your income tax payment to the state is reduced to $362. Instead of giving all of your money to the State, you are diverting it to support deserving students in our All Saints’ community.
Take MORE Credit!
An individual may claim an additional tax credit for making a donation to an STO if the amount contributed is greater than the maximum amount that can be claimed on Form 323. The maximum additional credit amount that may be taken for tax year 2019 is $566 for single, unmarried head of household and married filing separate filers and $1,131 for married filing joint filers. The tax credit for additional contributions is claimed by the individual taxpayer on Form 348.A.R.S. 43-1089 (G) allows you to donate up until you file your Arizona income taxes, not later than April 15, and have it count toward the prior tax year at the election of the donor, starting with
tax year 2010.
Please designate All Saints’ Episcopal Day School on your check or credit card payment.
Donations are to be made payable to:
Arizona Episcopal Schools Foundation
P.O. Box 12927
Tucson, AZ 85732-2927
Or you may make your donation online at https://www.az-esf.org/donate/
ARIZONA TAX CREDIT INFORMATION FOR CORPORATIONS
Arizona Corporate Credit for Contributions to School Tuition Organizations Law allows corporations to receive a state income tax credit to help select students receive a quality private education through gifts to qualifying school tuition organizations.
Eligible companies must pay corporate state income tax and the credit must be less than or equal to the actual amount they will pay to the state of Arizona. There is no maximum that a company can contribute, but the program has a statewide cap of $35.8 million for low-income scholarship gifts, and $5 million for disabled/displaced student scholarship gifts. (A.R.S. 43-1183)