In Arizona, tax credits are a great way to reduce your taxes and support local nonprofits and schools. A tax credit is not a tax deduction, rather a credit that can reduce what you owe in state taxes. By donating to qualified organizations, such as Child Crisis Arizona, and up to a specified amount, that money is credited to your state taxes.
Child Crisis Arizona is a qualifying organization for the Contributions to Qualifying Charitable Organization (CQCO) and the Qualifying Foster Care Charitable Organization (QFCO) Tax Credit. This allows taxpayers to utilize both tax credits and receive a dollar-for-dollar tax credit on your Arizona taxes up to $800 (married couples) or $400 (single filers) when donating to Child Crisis Arizona.
For an organization to be eligible for CQCO tax credits, the organization must spend at least 50 percent of its budget for services to Arizona residents who either receive Temporary Assistance of Needy Families (TANF) benefits, are low-income residents of Arizona or are children who have a chronic illness or physical disability. Qualifying Foster Care Charitable Organizations must meet all of the CQCO criteria, plus provide ongoing services to at least 200 children and teens in the Arizona foster care system and spend at least 50 percent of its budget on this group. Due to the wide range of services Child Crisis Arizona offers, we are eligible for both the CQCO and QFCO tax credits.
Last year, we placed 577 foster children in safe and loving homes. Tax credits helped make this possible. With nearly 19,000 children in out-of-home care, the need to find these children safe, loving homes is urgent.
Help provide hope to Arizona’s foster kids by donating to Child Crisis Arizona. This year, you can find us listed as our former organization names Crisis Nursery, Inc/Child Crisis Center, on the State of Arizona Department of Revenue site.
Consult a tax advisor regarding your individual tax situation and be sure to complete Arizona Tax Form 321 when filing your Arizona tax return. To learn more about tax credits, visit https://www.azdor.gov/TaxCredits.aspx.
