Donating to the Private School Tuition Tax Credit
Arizona tax law (A.R.S. AZ 43-1089) gives Arizona taxpayers a dollar-for dollar tax credit on their state income tax obligations, for donations made on behalf of a school, through a qualified School Tuition Organization (STO). Summit School of Ahwatukee is proud to partner with two qualified STO’s: The Institute for Better Education (IBE), and Arizona Tuition Connection
TAX CREDIT donation through the Arizona Tuition Connection or The Institute for Better Education, on behalf of Summit, provide the funds for needs-based scholarships given to Summit Students!
In the past six years Summit School of Ahwatukee has awarded over 200 needs-based scholarships to students. The majority of the funding for scholarships is derived from Arizona taxpayers who have contributed to the Arizona’s Private School Tax Credit Program. Those scholarships have allowed children from all walks of life to experience an outstanding private school education at Summit School of Ahwatukee.
Arizona state tax law states that 90% of the tax credit donations made to IBE, on behalf of a private school, go directly to qualified students attending member schools.
The maximum annual tax credit donation, made on behalf of a private school or private school student, for the 2016 tax year:
- Married couples filing jointly can receive an annual dollar-for-dollar tax credit on their Arizona tax return, for donations up to $2,173.
- Single or head of household taxpayers may receive a tax credit for contributions of up to $1,087.
- Donations made by April 15, 2017 will qualify as a credit on the 2016 Arizona tax return.
Arizona taxpayers may also qualify for state tax credits for donations to a public school, and organizations that assist foster children and the working poor.
Through your tax credit contribution, Summit will be able to continue assisting more students who are in need of tuition scholarships during the upcoming school years. We most gratefully thank you on their behalf.