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). The new group will help local residents support their community while reducing their Arizona State income taxes.
The FHCTCF’s focus is helping local families and individual residents of Fountain Hills who receive temporary assistance for needy families (TANF) benefits or are individuals who have a chronic illness or physical disability.
Board Members of the new organization include local residents Dori Wittrig, Bill Pape, and Mark Dalton.
“First, 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 explained. “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 per individual is $400 / $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 explained. “These are just two examples.”
Tax credit contribution may be mailed to the Fountain Hills Community Tax Credit Foundation at PO Box 20104, Fountain Hills AZ 85269. Contributions should include the AZDOR notation, QCO CODE 22465.
More information is available on the Foundation’s website at FountainHillsCares.com, including a Q&A for contributors as well as information for those who want information about receiving these funds. Contact the group at Info@FountainHillsCares.com for additional questions.