Giving to support the community is admirable. Giving to perpetuate the Jewish faith is a mitzvah.
The Jewish Tuition Organization asks that you do a mitzvah and support the community at the same time. When you support the JTO through Arizona’s dollar-for-dollar private school tax credit, you fund Jewish education for children attending six Valley Jewish day schools.
The tax credit is available to both individuals and corporations. More than 90 percent of the funds raised are distributed through JTO’s scholarships.
The 2018 maximum amounts for the private school tax credit are $1,107 for single taxpayers and $2,213 for married taxpayers filing jointly.
Supporting the JTO through the tax credit helps children get a Jewish education. The JTO is a nonprofit 501(c)(3), so we recommend that supporters consult their tax preparers regarding tax rules.
The tax credit is also offered to companies through the corporate private school tax credit. Scholarships funded through corporate support go to children from low-income families and the program meets Community Reinvestment Act requirements for banking institutions.
Although the corporate tax credit process is competitive, there is not a maximum tax credit amount for corporations, which are able to take the credit up to their total Arizona tax liability until the state cap is exhausted. The cap was set at $89 million for the 2018 tax year, but had more than $130 million in applications. For fiscal year 2019-2020, the cap will be $106 million.
The JTO provides approximately 600 scholarships each year. Our mission is to never turn away a child because of their family’s inability to pay for a Jewish education. We know, with the continued help of the community, our goal is attainable.
More than 60 percent of the children attending JTO’s six affiliated Jewish day schools receive scholarships from the JTO. Supporting our children today makes an impact on their lives and the Jewish community forever. JN
Linda Zell is the executive director of JTO. For more information, call JTO at 480-634-4926 or visit jtophoenix.org.