Help Arizona's Youth while
Accruing Tax Benefits
The CARES Act increases donation tax deductibility. This is a huge federal tax benefit for individuals and for corporations. Deadline is December 31, 2020
Universal Charitable Deduction
The CARES package includes a temporary universal charitable deduction. This deduction will allow all taxpayers to claim an above the line charitable deduction for cash donations up to $300 through December 31. Donations to donor advised funds and supporting organizations are not eligible for this deduction.
Adjusted Gross Income Limitation
The law also lifts the cap on annual deductions for cash contributions for those who itemize, raising the cap from 60% to 100% of adjusted gross income. The cap for corporations has been increased from 10% to 25%. For food donations, the corporate cap has been increased from 15% to 25%.
Required Minimum Distributions (RMDs)
RMDs are suspended for IRA’s, which translates to no income tax on gifts from IRA’s.
Corporations Who Itemize
...may now deduct up to 25% of their taxable income (up from 10%) and food donation deductions up to 25% (up from 15%)
What this Means for You
Kids need your help now more than ever. For many, childhood has been suspended. The Club is a source of stability, consistency, and fun for kids and teens. We are providing meals, virtual homework help, mentorship, academic enrichment activities and the chance to (virtually) have fun with friends and trusted mentors.
Your gift helps us maintain and grow these programs. And with these new tax incentives, there has never been a better time to support the Club.
*Written 3/26/2020. Information provided above does not substitute for the advice of your tax advisor or attorney. Please see your tax advisor or attorney for full advice on implications of the CARES Act.
$800 - Provides 10 kids with academic and character development programs
$400 - 20 hours of drug prevention education or 15 dental screenings
$200 - 100 hot meals for hungry kids
$100 - Sponsors 4 kids to play in the basketball league
$50 - Helps transport 5 kids to the Club
Boys & Girls Clubs of East Valley-Metro Phoenix*
Federal Tax ID: 86-0550646
Arizona State QCO Code: 20331 (Arizona DOR Form 321)
Mesa Arts Academy (School Tax Credit – CTDS #078613101 on AZDOR Form 322)
*For donations made to BGCMP in 2019:
Use BGCMP Federal Tax ID 86—0107639 and AZ QCO Code 20323 on your Arizona DOR Form 321 to claim your credits and/or deductions.
*For donations made to BGCEV in 2019:
Use BGCEV Tax ID 86-0550646 and AZ QCO Code 20331. Mesa Arts Academy (School Tax Credit – CTDS #078613101)
Tax circumstances are different for everyone: ask your tax adviser if you are eligible for the Arizona Qualifying Charitable Tax Credit and/or Public School Tax Credit for the year. Please consult your tax adviser regarding federal income tax.
How the Arizona Tax Credit Works
When you file your Arizona taxes, you can claim a dollar-for-dollar Arizona Charitable Tax Credit that will either reduce your tax liability or increase your refund. Learn More
2 Ways 2 Give
- Qualifying Charitable Organization Tax Credit, single filers maximum gift $400 and married filers up to $800. Boys & Girls Clubs of the Valley, Arizona State QCO Code: 20331 on AZDOR Form 321
- Public School Tax Credit, single filers maximum gift $200 and married filers up to $400. Mesa Arts Academy, School Tax Credit TDS Code: 078613101 on AZDOR Form 322
If a couple owes a $1,000 in state income tax, and donates $800, they may subtract the $800 from their tax bill and pay the state only $200.
If they owe NOTHING in Arizona state income taxes, and donate $800, they will get a refund of at least $800 back from the state — what a great way to give to BGCAZ AND get money back, dollar for dollar!
The Tax Credit is available to you even if you do not itemize your deductions on your taxes. And you can take advantage of BOTH tax credits.
If you make your direct contribution to Boys & Girls Clubs of the Valley, or Mesa Arts Academy, it must be received prior to your tax filing.
Join a special group of committed donors who believe that all children deserve a safe place to grow, play, learn and succeed. A monthly gift is easy to set up and manage. It provides immediate and sustaining support to the kids who walk through our doors everyday. Learn More