Why Partner with Catholic Education Arizona?
Catholic Education Arizona is an IRS-accredited 501c(3) non-profit organization and the largest school tuition organization in Arizona. We were founded in 1998 to provide tax credit scholarships to students attending Catholic schools in the Diocese of Phoenix. Serving 37 schools along with Boys Hope Girls Hope, Catholic Education Arizona is also the largest provider of scholarships to low income families attending private schools. More than 13,000 individuals in the State of Arizona and 42 corporations contribute more than $19 million annually. Since inception, the generosity of local contributors has allowed us to continually increase funding to Catholic schools and award more than $150 million in scholarships, helping students in need. With a 99% graduation rate, almost all of these scholarship students (97%) progress to university level studies and go on to become solid contributors to society.
What is the Corporate Tax Credit?
The State of Arizona instituted the Private School Tax Credit in 1997 for individuals. In 2006, the Corporate Tax Credit was added to allow C-corporations to redirect their tax liability. In 2009, the legislation was expanded to allow insurance companies to contribute their premium tax liability as well. 2015 brought additional expanded legislation to allow for S-corporations to take the credit, too.
Companies are allowed a tax credit of up to 100% of their corporate tax liability or in the case of insurance companies 100% of their insurance premium sales tax. Each year the State of Arizona puts a cap on the total corporate funds available under the Corporate Tax Credit program. The annual cap for fiscal year 2018 is $74.3 million. Submissions must be made through a qualified School Tuition Organization. Applications are submitted to the AZ Department of Revenue beginning July 3, 2017, and are approved until the corporate cap is met.
To begin your corporate tax credit contribution, please click on the corresponding button below:
Please consult your tax advisor for advice on filing and using your credit. This is only a guide; it does not constitute tax advice.
Our 2014-2015 Corporate scholars’ demographics:
- In the Phoenix Metro and Northern Arizona area, we had 4,051 corporate scholarship recipients.
- 67% of our scholarship recipients have a household income of less than $50,000.
- 75% of our corporate scholars are minorities.
- Corporate scholarship recipients represent more than 30% of the total number of students attending Catholic schools.
- Our total corporate qualified student need is $25.7 million.