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Key Information About the Arizona Foster Care Tax Credit

Tax season is here, and Arizona residents are busy gathering forms and collecting financial information so they can file their state and federal taxes. Many people across the state are also taking advantage of the Arizona Foster Care Tax Credit. Perhaps you’re not familiar with this tax advantage. If so, RISE Services, Inc. Arizona invites you to keep reading and learn how your donation can qualify for this valuable tax benefit.

Key Information About the Arizona Foster Care Tax Credit

What Is It?

The Arizona Foster Care Tax Credit is available for anyone who donates to a Qualifying Foster Care Charitable Organization (QFCO) like RISE Arizona Family Services, LLC. It offers a dollar-for-dollar reduction of your Arizona state income tax obligation. The maximum tax credit allowed is $500 for individuals and $1,000 for couples who file jointly.

How Does It Work?

There are four requirements for claiming this valuable tax credit:

  • You must be a resident of Arizona.
  • Your online donation or donation via check must be received by RISE Arizona Family Services, LLC. by April 18, 2023.
  • You need to file Arizona tax forms 352 and 301 when you file your state tax return.
  • Be sure to enter our QFCO code, which is 11060, on form 352 before filing your tax return.

If you have any questions about this process, you can contact us and we will be more than willing to help.

Why Should I Donate to RISE?

Now that you know how to qualify for and receive this cost-saving tax credit, you may be asking why you should donate to RISE Services, Inc. Arizona. The first thing you should know is that 100% of all funds donated to our organization go directly to the care of the individual. While the state does give foster parents a basic daily foster home rate on behalf of each foster child placed in their care, this does not cover any extra costs associated with playing sports, attending dance classes, celebrating birthdays, participating in hobbies, or many other activities children typically enjoy. Various donations can provide:

  • $25 for a favorite meal or treats for a celebration.
  • $50 for an outing to a baseball game or other event.
  • $100 for equipment for a new hobby or sports competition.

Supporting Foster Families in Arizona

Your donation truly makes a difference in the lives of the foster children and families we serve every day. Thank you for supporting our mission to create opportunities for and transform the lives of foster children and foster parents, families in need of preservation support, and individuals living with developmental disabilities. Make an online donation today or contact us with any questions.