FAQ

Yes. The Arizona State Department of Revenue has a website designated to information on the Qualified Charitable Organization Tax Credit.  Since they are the obvious authority on taxes, their site has the most up to date information on the tax credit.  Here is the link… https://azdor.gov/tax-credits/contributions-qcos-and-qfcos

Most TurboTax like software and all accountants ask you if you have donated to a QCO and they fill out both forms for you.  For those that are more hands on…  You report the name of the Qualifying Charitable Organization you donated to as well as the dollar amount of your donation to the AZ Department of Revenue on AZ Form 321. You must also total your nonrefundable individual tax credits on AZ Form 301 and include all applicable forms when you file your tax return.

Taxpayers filing as “single” and “head of household” status may claim a maximum credit of $400. Taxpayers filing as “married filing separate” may claim a maximum credit of $400. Taxpayers that file as “married filing joint” may claim a maximum credit of $800.

Credit eligible contributions made to a Qualifying Charitable Organization on or before April 15th may be applied to either the current or the previous taxable year.  Contributions made after April 15th can be applied to the current taxable year.

Currently, that percentage is 98%!  Following our founding documents, we must give at least 90% of every dollar brought in on youth centered activities. In 2022, BILT Foundation spent less than 2% on administration after taking out credit card transaction fees. We are able to do this by having zero paid staff at the BILT Foundation.  All board members and donation counselors are volunteers and give their time freely to the foundation.  The 10% that we do reserve to spend on administration is mostly credit card processing fees, website hosting, accountants, and legal paperwork costs required to keep the foundation in good standing.  In comparison…  most 501(c)(3) organizations today spend more than 50% on administration.

Donations are cut off on June 1st of every year. It takes our team of volunteers a week or two to audit and prepare grant checks. We then mail grant checks out around June 15th.