It’s admirable to support the community; it’s a mitzvah when your support perpetuates Jewish tradition.
When you support the Jewish Tuition Organization through Arizona’s dollar-for-dollar private school tax credit, you fund Jewish education for children attending six Jewish day schools throughout Greater Phoenix. At this time of year, when everyone is thinking about supporting nonprofits that make a difference, the JTO, a school tuition organization (STO), asks that you consider giving a child the gift of a Jewish education.
The private school tax credit is available to both individuals and corporations. More than 90% of the funds raised are distributed through more than 650 JTO scholarships.
The 2021 maximum amounts for the private school tax credit are $1,219 for single taxpayers and $2,435 for married taxpayers filing jointly. Supporting the JTO through the tax credit helps provide many children with a Jewish education, which they wouldn’t otherwise be able to afford. The JTO is a community organization that supports families who have decided that attending one of its affiliated Jewish day schools is the appropriate choice for their children; and with the community’s help, the JTO makes it happen.
The schools supported by the JTO pride themselves on the Judaic and secular education they provide students.
There are students flourishing in schools supported by the JTO who weren’t succeeding in their previous schools. In some cases their siblings joined them at their new school, because the families were so thrilled with their child’s success. Without JTO scholarships these students would not have the same educational experience they enjoy today.
The impact lasts a lifetime. Often students who have completed their educations, through college, still keep in touch with the JTO. Many former students are now community leaders making a difference for the next generation. JTO supporters deserve the credit — providing children with JTO scholarships would not be possible without them.
Arizona also has a corporate tax credit offered to companies filing as C-corps or S-corps, LLCs filing as S-corps and insurance companies through the corporate private school tax credit. This is the only dollar-for-dollar tax credit program for corporations. Scholarships funded through corporate support go to children from low-income families and the program meets Community Reinvestment Act requirements for banking institutions. Through the corporate tax credit, a company can support the community it serves and make a difference without impacting other charitable initiatives. The tax credit is a great way for businesses to increase their community relations efforts and effectiveness.
There is not a maximum tax credit amount for corporations. Corporations can take the credit up to their total Arizona tax liability until the state cap is exhausted. The 2021/22 state cap for the program has still not been met. There is in excess of $20 million still available. All corporate applications must be submitted by a certified STO, such as the JTO. Companies cannot submit directly to the Arizona Department of Revenue. The JTO is submitting applications as they come into their offices. Once the application is submitted, the approval takes approximately a week. Contact the JTO office for more information if your company can take the corporate tax credit.
The JTO provides more than 650 scholarships each year with the generous support of individuals and corporations. The children benefit, the community benefits and Jewish traditions flourish as taxpayers and corporations realize the impact they can make through the dollar-for-dollar tax credit.
As Benjamin Franklin said, “An investment in knowledge pays the
best dividends.” JN
For more information, call the JTO offices at 480.634.4926 or visit jtophoenix.org to give your support today. The JTO is a 501(c)(3) and can also accept charitable contributions; all support is appreciated.
Linda Zell is the Jewish Tuition Organization’s executive director.
