SUPPORT OUR SCHOOLS
MAKE A DONATION
The State of Arizona allows taxpayers to make monetary contributions to public and private schools. Taxpayers who make a qualified contribution may receive a credit on their state tax return for the donation amount.
Public Schools: To qualify for the credit you must make cash contributions or pay fees to a public school for support of extra curricular activities or for character recognition programs.
Private Schools: To qualify for the credit you must make cash contributions to a tuition organization that provides scholarships or grants to qualified schools.
DON'T HAVE THE MONEY
Because you must make your qualified donation before the end of the year, Tempe Schools Credit Union will loan you the money you need to make a donation to your school of choice. You borrow the money - at 0% interest – to make the donation. Your tax credit loan is made at 0% interest, provided you pay back the loan before May 31 st , 2010.
DONATION GUIDELINES
Individuals and heads of household on new accounts and existing accounts whom have never received a tax credit loan from TSCU are limited to a maximum loan amount of $400.00. This maximum loan amount may be distributed to both Public and Private schools. Qualifications and restrictions apply.
Individuals and heads of household on Existing Accounts whom have received a TSCU tax credit loan may qualify for like dollar amounts from previous 2 years (2007 and/or 2008). Qualifications and restrictions apply.
The school will provide a receipt to the donor that includes the school name(s), school district number, taxpayer name, taxpayer Social Security number, amount(s) paid, date(s) paid and a description of the activity for which the donation was made.
GENERAL INFORMATION & RESOURCES
• DEFAULT RATE – Should maker fail to make the payment due under this note by May 31 st , 2010, then the principal amount of this note shall earn interest at the annual percentage rate of eighteen percent (18%) per year from the date of the loan until paid in full.
• TSCU recommends you consult with a tax advisor to determine how a Tax Credit may benefit you. Note: Receiving a Tax Credit Loan does NOT guarantee a state income tax refund . All Tax Credit monies borrowed MUST be paid in full regardless if you receive a state refund.
• For further information please contact the AZ Department of Revenue by phone (602) 255-3381 or on the web at http://www.azdor.gov/ .
IMPORTANT DATES
• TSCU will begin accepting applications on November 2 nd , 2009.
• TSCU will stop accepting applications on December 22 nd , 2009.
• All tax credit donation checks must be received or postmarked by December 31 st , 2009.
• All tax credit loans MUST be paid in full by May 31 st , 2010.
Resources: (require Adobe PDF reader)
Information on School Tax Credits
Listing of Schools by District
Listing of Private School Tuition Organizations