Arizona’s only corporate dollar-for-dollar tax credit is a full write off against an Arizona tax liability for a business, with virtually no cap, except the yearly allowance set forth by Arizona’s Department of Revenue. This tax credit worthy donation is available in various forms, but the Corporate donation aids children from LMI families (low-moderate income families). The way in which their need, and acceptance into receiving tuition aid is measured, is aligned with free or reduced lunch program admittance and funds are distributed through STO’s (School Tuition Organization’s) like Community Reinvestment: Low Income Based Scholarships Inc.
Community Reinvestment: Low Income Based Scholarships Inc. was formed in an effort to search for worthy recipients and partnering schools to receive funds. Using data as it’s driving force, Community Reinvestment: Low Income Based Scholarships has taken a unique approach, in that has organized data for all private schools based on location (county), number of students and % LMI families served, Religion (or non denominational), ages served, whether or not the school has extended hours, and a variety of other factors including learning methodology, special needs program oriented, etc.
“Aligning corporations with the types of giving goals that they have internally, has been the goal all along. Community Reinvestment: Low Income Based Scholarships is invested in steering giving toward the ethos of an organization and who they choose to support and empower,” Carly Bodmer, Executive Director states, “and whenever possible, we outline needs as packages and will partner a donation with a specific school or set of needs and monitor the outcome of their gift’s impact within the community. That impact is what we look to measure in time, we look forward to showing what exactly your tax write off paid for, and who it served.”
Donations can be made year round, so long as the Arizona Department of Revenue cap has not been met. For more information on Corporate donations, contact carly@lowincomebasedscholarships.com to fill out a non-binding pledge and communication with the Department of Revenue will commence. The process is intentionally easy, may be considered a CRA worthy donation for banks, and impacts the most vulnerable and highest potential children in the state.
