By Pamela S Kelty
For residents of the great state of Arizona, there is a wonderful dollar for dollar tax credit available to all individual taxpayers. Arizona provides two separate tax credits for individuals who make contributions to charitable organizations. As a Qualifying Charitable Organization (QCO), contributions made to Greater Vail Community ReSources (ReSources) qualifies for one of these credits. To be identified as a QCO, the organization must provide immediate basic needs to residents of Arizona who receive temporary assistance for needy families’ benefits, are low income, or have a chronic illness or physical disability. The tax credit is claimed on Form 321 and the maximum credit allowed to filers is $800 for married filing joint and $400 for single, heads of household, and married filing separate. The donation must be in cash; donations of goods or services do not qualify for this credit.
ReSources, whose QCO code is 20904, is committed to feeding hungry residents in our community by operating the ReSources Vail Food Bank which serves all those living within the boundaries of the Vail Unified School District. To help fund the food bank’s operational costs ReSources operates the Vail Depot Thrift Store; both operations are located “between the tracks.” Contributions support the food bank and allow it to buy food to distribute to those eligible, including emergency food, meals for the home-bound, physically challenged, or convalescent individuals, and backpack program which provides supplemental nutrition for needy Vail School District students. Your charitable contributions made to ReSources are kept in the local community and you can be assured that they are used primarily to support these programs, not the organization’s overhead costs.
ReSources is powered by a Board of Directors and dedicated volunteers who are committed to our mission. We hope when you decide where to make your year-end donations for the Arizona tax credit you will consider ReSources. Visit our website: www.resourcesvail.org to learn more about us.
Pam is a retired CPA who had her own practice in partnership with another CPA focusing on small business. She has over 35 years of experience working with clients of nonprofit organization’s preparing their financial statements and tax returns. In addition, she has served on nonprofit boards at the State, County, and local level. She and her husband moved to Vail on June 1, 2015, love Vail and are enjoying retirement.
