St Charles Apache Mission School

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Any Arizona state taxpayer filing an Arizona tax return can donate to the St Charles School up to $1000.00 .    It's an opportunity for everyone involved to benefit greatly. The donors receive a $1000.00 dollar for dollar tax credit on the Arizona tax return and a $1000.00 tax deduction on the federal tax return.  The schools benefit by receiving tax money directly to fund scholarships and help the children!  And best of all, the children receive direct assistance to attend the  school of their choice! 
Some questions and answers are:

 

 

1) How does a tax credit work?

A tax credit differs from a tax deduction in that it gives you full credit for the donation, thereby reducing your tax liability. A tax credit is better than a deduction because with a tax credit you receive a dollar-for-dollar refund from the Arizona Department of Revenue.
In contrast, a tax deduction allows you to subtract your donation from your taxable income. It will lower your taxes, but does not give you a full credit for the donation.

Example 1: You owe $600 in Arizona income tax and you had $950 in withholdings. Your refund from the State would be $350. Now assume you donated $500 to the scholarship fund. Your refund from the State is now $850.

Example 2: You owe $400 in Arizona income tax and you had zero in withholdings. Assume you donated $500 to the scholarship fund. Your tax due is zero. Also, you would have a $100 (donation) as a carryover, good as a tax credit for the next year.

2)    What is the maximum amount I can donate for a tax credit?
    Regardless of what you owe the State of Arizona, you can donate up to $1000 (or $500 for individuals ) and receive a dollar-for-dollar tax credit slip from CTSO (Catholic Tuition Support Organization) that you will submit with your state tax return. This may also be applied toward a tax deduction on your federal tax return for a charitable donation to a non-profit organization.

3) How will tuition organizations spend the money?

The actual cost of educating students at a private school is generally greater than the tuition charged. For some families, the tuition charged is beyond their means, necessitating some form of assistance if they are to provide a private school education for their children.

Funds obtained by means of the tax credit incentive will be used to provide tuition assistance to families who can demonstrate need.

4) How can I give?
Donations may be made thru the CTSO (Catholic Tuition Support Organization). Arizona tax forms and additional information is available in their web site www.ctso-tucson.org

Be sure and specify St Charles School

You may also call CTSO directly (520-838-2571)

 

 

 
 

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This site was last updated 01/27/08