News and Events
About TPA :: Tax Credit FAQ
THREE EASY STEPS
Making a contribution to Tempe Preparatory Academy to receive your Arizona Public Education Tax Credit is as easy as 1.…2….3.
- 1) Make your check or credit card contribution payable to Tempe Preparatory Academy (up to $200 for an individual or $400 per married couple).
- 2) Print and fill out the donation form and return it and your contribution to Tempe Preparatory Academy. 1251 E. Southern Avenue, Tempe, Arizona 85282 or pay online through PayPal. The school will issue a receipt for your records.
- 3) Count on a dollar for dollar reduction in your state tax bill or an addition to your state tax refund for the full gift amount (but not in excess of your refund or tax-bill amount). Mailed-in donations must be postmarked by December 31 to receive the tax credit for the current year.
Need more information? Read on...
What is a tax credit?
A tax credit is a dollar for dollar reduction in the amount of taxes owed. For example, if a married couple owes $1000 in state income taxes and donates $400 to Tempe Prep in support of extracurricular activities, the amount they owe will be reduced to $600.
School tax credit donations are used only to support extracurricular activities including sports, visual and performing arts, special programs, and character education. None of the donation money is used for general overhead expenses.
Who can contribute?
Arizona taxpayers can contribute regardless of whether they have children in school or live in the district in which the receiving school is located. An individual can contribute and receive a tax credit for any amount up to $200, and a couple filing jointly can contribute up to $400. Donations from businesses are always welcome, but do not qualify for the tax credit.
Can I designate where I want my money to go?
Yes. You can designate it for any Tempe Preparatory Academy extracurricular activity or character education program at the time you make the donation. If for some reason your donation cannot be used for that activity (for example, if the activity is cancelled), we will use it to support another qualifying extracurricular activity.
Arizona law provides different types of tax credits. Which one is this?
Arizona law provides, among other credits, three that are frequently confused. One is a tax credit for the working poor. There are two school tax credits: one is for private school tuition and one is for public school extracurricular activities. TPA, as a public school, is asking you to make a donation to support public school extracurricular activities. The following link provides additional information on the two school tax credits:
http://www.azdor.gov/TaxCredits/SchoolTaxCreditsforIndividuals.aspx