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Tax Benefits

Receive an Arizona State Tax Credit! In the state of Arizona, an income tax credit is available for contributions to Opportunity4Kids as a Qualifying Charitable Organization (QCO). Qualifying Charitable Organizations that provide immediate basic needs to residents of Arizona who receive temporary assistance for needy families (TANF) benefits, are low income residents of Arizona, or are individuals who have a chronic illness or physical disability.

  • The maximum QCO credit donation amount for 2024:
    $470 single, married filing separate or head of household; $938 married filing joint.

  • The maximum QCO credit donation amount for 2023:
    $421 single, married filing separate or head of household; $841 married filing joint

    Donations may now be made on or before April 15th to be applied to the current or preceding taxable year. Opportunity4Kids Arizona QCO Code is 20769.

How the Tax Credits Work — Anyone who pays state taxes may be eligible for the tax credit when donating to a Qualifying Charitable Organization (QCO).* This is a dollar-for-dollar state income tax credit. All qualifying donations come right back to you at tax time! The tax credit is claimed on Form 321.

  • AND a Federal Tax Deduction! As we are a 501(c)(3) organization, individually or on behalf of your business, you can donate money, goods or services to receive a tax benefit.

Visit the AZDOR QCO website for the most up-to-date information.

Arizona QCO Tax Credit FAQ

What is the Arizona QCO Tax Credit?

The Arizona QCO Tax Credit program allows Arizona taxpayers to donate to qualified charitable organizations like Opportunity4Kids (O4K) and receive a dollar-for-dollar tax credit on their state income taxes.

In Arizona, eligible organizations for the Qualified Charitable Organization (QCO) Tax Credit include those that are recognized as qualified charitable organizations by the Arizona Department of Revenue. These typically include charitable organizations that provide direct services to residents of Arizona who are considered low-income or face challenges.

How does it work?

When you donate to Opportunity4Kids, you can claim a tax credit up to the maximum allowable limit set by the state of Arizona. Up to this limit, the amount you donate to O4K is subtracted directly from your state tax liability.

Who is eligible to take advantage of this tax credit?

Any Arizona taxpayer who donates to Opportunity4Kids is eligible to claim the tax credit, regardless of whether they itemize deductions or not.

What are the maximum contributions I can claim for the tax credit in 2023 and 2024?

As of 2023 and 2024, the maximum contribution limits for the Arizona QCO Tax Credit are as follows:

  • 2023:

    • For individuals or heads of household: $421

    • For married couples filing jointly: $841

  • 2024:

    • For individuals or heads of household: $470

    • For married couples filing jointly: $938

For the most up-to-date and accurate information, please visit the AZDOR website.

Can I donate to multiple qualified charitable organizations and claim a tax credit for each?

Yes, you can! You can donate to several QCOs and claim a tax credit for each donation if the total amount claimed doesn't exceed the maximum limit allowed for your filing status.

How do I claim the tax credit?

After donating to Opportunity4Kids, you must fill out Arizona Form 321 and include it when filing your state taxes. When completing the form, you'll be asked to provide Opportunity4Kids' QCO Code, which is 20769. Ensure you keep a receipt or acknowledgment from O4K as documentation for your donation.

Are donations to Opportunity4Kids eligible for both federal and state tax deductions?

While the Arizona QCO Tax Credit only applies to state taxes, your donation to O4K may also be eligible for federal charitable contribution deductions if you itemize deductions on your federal tax return. Please consult a tax professional for specific advice regarding federal deductions.

How can I donate to Opportunity4Kids?

Visit www.Opportunity4Kids.org/donate or mail a check to Opportunity4Kids’ office.

Is there a deadline to make donations to qualify for the tax credit?

Yes, donations must be made by tax filing deadline you wish to claim the credit for the previous year. Ensure your contribution is made on time to be eligible for the tax credit.

OR mail a check to our office:

Opportunity4Kids

4295 N 75th Street

Scottsdale, AZ 82251

Please provide us with an email address in the envelope to digitally send you a donation receipt, ensuring that it reaches you conveniently and efficiently. Otherwise, if an email is not provided we will mail your receipt to the return address indicated on the envelope. Your support means a lot to us, and we want to ensure that you receive the proper acknowledgment of your generosity in a timely manner.

DISCLAIMER: The information presented is intended solely for informational purposes and should not be construed as professional advice in tax, legal, or accounting matters. Opportunity4Kids makes no express or implied warranties or representations regarding the content on our website and assumes no liability for its use. Prior to taking any action based on this guide, it is advisable to seek guidance from your professional advisor(s).