Arizona QCO - Qualified Charitable Organization Tax Credit
Arizona tax law provides a tax credit for contributions made to Qualifying Charitable Organizations (QCO) providing assistance to underprivileged members of the community. For 2024, the maximum amount of this credit is $938 for married taxpayers and $470 for single individuals. The Chandler Compadres, acting as an umbrella organization, directs your tax credit donation funds to local charities, including the Boys & Girls Clubs of the Valley, AZCEND, ICAN, Fans Across America, Chandler Care Center and Arizona Brainfood – supporting Chandler Service Club Weekenders Program and other qualifying charitable organizations. Contributions to QCOs must be made between January 1, 2024 and April 15, 2025.
Arizona QFCO - Qualified Foster Care Organization Tax Credit
A second Arizona tax credit for up to $587 for single, heads of household and married filing separate filers and $1,173 for married filing joint filers is available for taxpayers who make contributions to Qualifying Foster Care Charitable Organizations (QFCOs). A qualifying foster care charitable organization includes organizations who meet similar criteria to QCOs and provide immediate basic needs to at least 200 qualifying individuals in the foster care system. The Chandler Compadres support two of those organizations – Boost a Foster Family, Inc. and Child Crisis Arizona. Contributions to QFCOs must be made between January 1, 2024 and April 15, 2025.
How the Tax Credits Work
Anyone who pays state taxes may be eligible for the tax credit, which is not the same as a deduction on your income tax form. For example: if you owe $1,000 in state income tax, and you donate $938, you may subtract the $938 from your tax bill and pay the state only $62.
Other Arizona Tax Credits*
The Arizona QCO & QFCO Tax Credits can be taken in addition to the Private and Public School Tax Credits offered by Arizona. For example: Joe and Mary Taxpayer, a married couple, donate $800 to a private school tuition organization, $300 to a public school for the extracurricular activities credit and $938 to the Chandler Compadres QCO Tax Credit Program. Joe and Mary owe $2,500 in 2024 state income taxes. The tax credits noted above reduce their tax liability by the combined amount of $2,038, and lower their Arizona tax liability to $462.
* Tax circumstances are different for everyone. Please consult your tax advisor.
Tax Deadline
If you make your donations to the Chandler Compadres Arizona QCO & QFCO Tax Credits by credit card online, it must be received by April 15, 2025. If you donate by check in the mail, your contribution must be postmarked by April 15, 2025.