The Arizona Department of Revenue has approved the formation of a new, local community tax credit foundation, sponsored by the Fountain Hills Community Foundation.
The newly formed Fountain Hills …
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New tax credit foundation benefits local families
Posted
The Arizona Department of Revenue has approved the formation of a new, local community tax credit foundation, sponsored by the Fountain Hills Community Foundation.
The newly formed Fountain Hills Community Tax Credit Foundation (FHCTCF) is a qualified charitable organization (QCO) that was created to support local families and individual residents of Fountain Hills who receive Temporary Assistance for Needy Families (TANF) benefits or those suffering from a chronic illness or physical disability.
Board members of the new organization include Fountain Hills residents Dori Wittrig, Bill Pape and Mark Dalton.
“Local individuals can take advantage of an additional tax credit program offered by the State of Arizona, which basically equates to a net-zero contribution,” Bill Pape said. “The contribution costs the taxpayer nothing because it equals a direct credit on your state taxes.
“At the same time, the money stays within the community of Fountain Hills and is directed to those who qualify for the TANF benefits or who meet other qualifications. It’s a win-win-win for the taxpayer, the local resident who needs it and for our community.”
The maximum amount of tax credit is $400 per qualifying individual or $800 for couples filing jointly. This tax credit opportunity is in addition to a tax credit afforded to those who wish to donate to local schools.
“The state of Arizona offers numerous programs for locals to support their community and receive tax credits,” Pape said. “These are just two examples.”
Tax credit contributions may be mailed to the Fountain Hills Community Tax Credit Foundation at P.O. Box 20104, Fountain Hills AZ, 85269. Contributions should include the AZDOR notation and QCO code 22465.
For more information visit the Foundation’s website at FountainHillsCares.com, which includes a Q&A for contributors and information for those who are interested in applying for the tax credit. For questions, send an email to Info@FountainHillsCares.com.
