Love Feeds All
Your Gift Will Change Lives and Better Our Community.
Giving Back Feels Good
When you give, you support our goal to feed those in need in our community. Plus, you can get tax benefits.
Every gift makes a big difference!
Donating to St. Mary’s Food Bank gets you a Tax Credit on your Arizona state Taxes – this differs from a Tax Deduction and has many benefits.
| Tax Deduction vs | Tax Credit |
|---|---|
| Deductions that help in reducing overall taxable income. | Reduces your tax liability by offsetting taxes owed. |
| Can be itemized but most take a standard deduction. | Every $1 contributed usually reduces taxes owed by $1. |
| Adjusted before application of the tax rate. | Adjusted after tax due is ascertained. |
| The more money you make, the more valuable a deduction. | Some credits are refundable and can increase a tax refund. |
Frequently Asked Tax Credit Questions
What’s the difference between a Tax Credit and a Tax Deduction?
A Tax Credit directly reduces the amount of tax you owe, offering dollar-for-dollar subtraction from your tax liability. A Tax Deduction decreases your taxable income, reducing the amount of your income subject to tax. For example, If you owe $841 in state taxes and donate $841, you owe nothing. The entire amount comes back to you!
How much should I donate?
You can donate any amount. You'll receive a dollar-for-dollar Arizona state tax credit for your generous contribution, up to $421 for individuals and $841 for those filing jointly. This credit directly reduces the amount of tax you owe, offering a dollar-for-dollar subtraction from your tax liability.
Can I contribute to multiple organizations and claim various tax credits?
You can give in a variety of categories and receive benefits for donating to each. Your diversified contributions create holistic impacts, reaching different sections and needs of our community while benefiting you. Besides St. Mary’s Food Bank, you can also get credit from:
- Public Schools Credit
- Private School Tuition Credits
- Credit for Qualifying Foster Care Charitable Organizations
- Military Family Relief Fund (MFRF)
What is the deadline for contributing to qualify for the tax credit?
The deadline for the Arizona Charitable Tax Credit is tax day (April 15, 2024).
Will I receive a receipt for my contribution?
Yes. Donation receipts are sent with every donation, no matter the size.
Donate Now
You can contribute and get your tax credit in a few easy steps. We’ll send a confirmation of your donation for your records and tax purposes. Donate today and amplify your impact!