When using your Arizona Tax Credit, it costs you nothing to donate to the good work of the James Family Prescott YMCA. Donate now to the Prescott Sunrise Lions Foundation and you can designate 100% of your gift to James Family Prescott YMCA Scholarships for Kids while reducing your state tax bill!
A tax credit reduces your final tax liability. Your donation comes right off the top of your state tax bill, reducing the amount of money you owe.
As the leading non-profit organization dedicated to youth development, healthy living, and social responsibility, the Y works side-by-side with our neighbors every day to make sure that everyone, regardless of age, income, or background, has the opportunity to learn, grow, and thrive. To do this important work, the Y relies on support from members, donors, volunteers, and community leaders.
When you are involved with the Y, you help bring about lasting personal and social change. Whether you want to nurture the potential of children and teens, improve your or your family's health and well-being, or give back and support your neighbors, your involvement with the Y will positively impact those in our community.
Make your gift by April 15, 2024, to claim credit on your 2023 Arizona Income Tax Return.
The Arizona Charitable Tax Credit allows you to receive a dollar-for-dollar tax credit, up to $421 (single/head of household) and $841 (married filing jointly) on your Arizona State Income Tax Return when you make a donation to the Prescott Sunrise Lions Foundation and direct your gift to James Family Prescott YMCA Scholarships for Kids.
You will receive a receipt from the Prescott Sunrise Lions Foundation and 100% of your donation will go to James Family Prescott YMCA Scholarships for Kids. Your gift will help to support families in the Quad Cities area.
Yes. The Charitable Tax Credit may be taken in addition to the School Tax Credit.
Arizona has several tax credits which allow eligible individuals to decide how a portion of their tax dollars are spent. One of those tax credits is the Arizona Charitable Tax Credit (ARS 43-1088). This credit allows you to contribute to a Qualifying Charitable Organization, such as the Prescott Sunrise Lions Foundation, and have your Arizona tax liability reduced dollar-for-dollar.
Anyone who has an Arizona tax liability is eligible to claim this credit. You no longer need to itemize your deductions to be eligible.
“Single” and “Head of Household” taxpayers can claim a credit up to $421, and “Married” taxpayers can claim a credit up to $841. Please note that the listed amounts are the maximum. If you are an eligible individual, you can contribute a lesser amount if you don’t exceed the $421 or $841 thresholds.
Yes, you can allocate your contributions to as many Qualifying Charitable Organizations as you desire if the total does not exceed the established thresholds.
The James Family Prescott YMCA is one of many local programs that are supported by the Prescott Sunrise Lions Foundation. If you place a checkmark next to “YMCA Scholarships for Kids” on their form, you can be sure that every dollar you contribute will be given to the Y where it will be used to support families in need.
Yes, the Prescott Sunrise Lions Foundation website allows you to contribute using a credit card. However, if you donate online, you will still need to: print and complete their form, put a checkmark next to “YMCA Scholarships for Kids”, and fax or mail the form to the Prescott Sunrise Lions Foundation. This will ensure a dollar-for-dollar donation is made to the James Family Prescott YMCA.
Yes, the Prescott Sunrise Lions Foundation will send you a receipt.
If your allowable tax credit exceeds your taxes, you may be able to carry forward the amount of the unused credit. Consult a tax professional or the State of Arizona Department of Revenue for more information.
Yes. Complete Arizona Tax Form 321 when filing your Arizona State Tax Return.
You can claim the Arizona School Tax Credit AND the Arizona Charitable Tax Credit. One does not limit the other.
Important Note: The Prescott Sunrise Lions Foundation and the James Family Prescott YMCA are not tax advisors. Please contact a qualified tax professional for expert advice on your specific tax situation. For more information on this tax credit (ARS 43-1088), please contact the AZ Department of Revenue at (602) 255-3381 or visit their website.
Questions?
Please contact Damon Olsen, CEO, YMCA of Yavapai County, or Marsha Hollaway, Development Director, James Family Prescott YMCA, at (928) 445-7221, or via email at: info@prescottymca.org.
For questions relating to the Prescott Sunrise Lions Foundation, please contact Lion Chuck at (928) 771-2007, Lion Tim at (928) 925-6560, or visit www.prescottsunriselionsclub.org.
