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Seeking Contributions
A Mighty Change of Heart relies on the generous support of donors like you to continue our important work. Our primary source of funding comes from Arizona Tax Credit Donations. By contributing cash donations to A Mighty Change of Heart, you not only make a positive impact on our cause but also receive certain benefits:
1. Tax Deductibility: Your cash donations to A Mighty Change of Heart are tax deductible. This means you can deduct the amount of your donation from your taxable income, potentially lowering your overall tax liability.
2. Arizona Qualifying Foster Care Organization (QFCO) Credit: In AZ your donations may be eligible for the Arizona Qualifying Foster Care Organization credit on your state tax return. (QFCO # 10038) This credit provides an additional financial incentive for your generosity.
If you're interested in learning more about how tax credits work and how you can put your state tax dollars to good use, we encourage you to reach out to us. We can provide you with detailed information on the process and guide you through the steps to ensure your donation not only benefits our organization but also maximizes your tax benefits.
Your support is invaluable in helping us make a mighty change of heart in our community. Together, we can make a lasting difference in the lives of those we serve. Thank you for considering joining us in this important mission."
Tax Credits
Control where your tax dollars go!
The State of Arizona offers various tax credits to individuals who file an Arizona tax return. These tax credits provide you with the unique opportunity to have a say in where your state tax dollars are allocated, enabling you to support causes and organizations that matter to you.
Now, let's delve into the specifics:
Tax Credits vs. Tax Deductions:
1. Tax Credits: Unlike tax deductions, which reduce your taxable income, tax credits directly reduce your tax liability on a dollar-for-dollar basis. In simpler terms, if you qualify for a $1,234 tax credit, your actual tax bill is reduced by $1,234.
The Qualifying Foster Care Organization (QFCO) Credit:
2. One of these valuable tax credits is the Qualifying Foster Care Organization (QFCO) credit. This credit is designed to encourage support for organizations like A Mighty Change of Heart. For the tax year 2025, this credit can be as much as $1,234 for married couples filing jointly and $618 for individuals filing as single taxpayers.
3. Combining Tax Credits: Here's where it gets even more beneficial. The QFCO credit can be combined with other eligible tax credits. For example, if you are a married couple filing jointly, you can contribute $400 to your child's school and also contribute $1,234 to A Mighty Change of Heart, effectively reducing your tax liability by a significant amount while supporting both education and foster care causes.
By participating in these tax credit opportunities, you not only have a direct impact on the causes you care about but also receive substantial tax benefits in return.
Get in Touch:
If you have any questions or need further clarification about how these tax credits work and how to make the most of them, we encourage you to reach out to us. You can send your inquiries to us via email at information@amchaz.org.
Your involvement in these tax credit programs allows you to exercise control over the destination of your tax dollars, supporting organizations like A Mighty Change of Heart and making a positive difference in your community. Thank you for considering this impactful way to contribute to causes that matter.