FINANCIAL ASSISTANCE FOR INDEPENDENT SCHOOLS

Verde Valley School’s Arizona State Tax Credit Fund is the Financial Assistance for Independent Schools (FAIS) and is a School Tuition Organization (STO) approved by the State of Arizona to receive private school tax credit contributions from Arizona taxpayers.

Arizona law allows, and encourages, its tax payers to direct their state tax dollars straight to independent schools through a School Tuition Organization (STO). Financial Assistance for Independent Schools (FAIS) is a School Tuition Organization (STO) approved by the State of Arizona to receive private school tax credit contributions from Arizona taxpayers. FAIS then allocates the funds received directly to a restricted scholarships fund for Arizona students to attend Verde Valley School. This means you give the money you already owe the state goes directly to VVS scholarships, at no additional expense to you!

Arizona offers two state tax credit options
enabling individuals to give a maximum of $1,107, and couples to give a maximum of $2,213:

1. The Original” Tuition Tax Credit Program (ARS 43-1089):

  • The 2018 contribution limits are: $1,110 for those filing jointly or $555 for those filing individually.
  • Arizona Form 323 is used to claim this credit.
  • All Arizona students are eligible for a scholarship toward Verde Valley School.
  • The giving deadline for tax year 2018 is April 15, 2019.

2. PLUS (Private Learning Uplifting Students) Tuition Tax Credit Program (ARS 43-1089.03):

  • The PLUS credit was previously known as the “Switcher” or “Overflow” Credit.
  • The 2018 credit limits are: $1,103 for those filing jointly and $552 for those filing individually.
  • You may give to the PLUS Credit Program only after you have met the maximum donation amount for the Original Credit Program.
  • Arizona Form 348 is used to claim this credit.
  • The giving deadline for tax year 2018 is April 15, 2019.

All tax credit donations benefit FAIS a 501(c)(3) tax-exempt organization.  All funds will be used solely for private school tuition assistance at Verde Valley School. FAIS seeks and accepts applications for tuition assistance with no discrimination against any person due to race, color, religion, national origin, disability or gender.

A school tuition organization cannot award, restrict or reserve scholarships solely on the basis of donor recommendation. A taxpayer may not claim a tax credit if the taxpayer agrees to swap donations with another taxpayer to benefit either taxpayer’s own dependent.

Answers to some questions you may have:

Who is eligible to give? Any Arizona resident who pays Arizona state income tax is eligible. You can give to the program even if you don’t have a child enrolled at VVS.

You don’t have to have a child enrolled at VVS to donate? No. So please share the link with friends and relatives who are Arizona tax-payers. You can be assured that all money given to FAIS is used specifically for student scholarships at VVS and no other programs.  Please consider supporting Arizona students and Verde Valley School through this generous program.

How does it work? When you make a donation to FAIS you will receive an acknowledgment letter that entitles you to a dollar-for-dollar credit to your Arizona state income tax. Your tax credit donation is also a deductible gift if you itemize your federal income taxes.             

How much can I give?   If filing Married Filing Jointly, you may allocate up to $1,110 for the Original Individual Income Tax Credit and $1,103 for the PLUS Income Tax Credit, allowing you to allocate up to $2,213 to VVS for Arizona scholarships.  If filing Single or Head of Household you can allocate up to $555  in the Original Individual Income Tax Credit and $552 for the PLUS Income Tax Credit, allowing you to allocate up to $1,107 to VVS for Arizona scholarships. Any amount up to the limit is welcome.

Where does the money go? All donations become part of the financial aid package given to deserving Arizona students already attending or entering VVS, making a VVS education more affordable for a wider range of exceptional students from Arizona.

If I am entitled to a tax refund, can I still participate? Yes.  Your refund will reflect the amount you donated to FAIS.

Can I give to VVS and a public school? Yes. Donations to each will be a tax credit for you. Each donation entitles you to a separate tax credit.

For more information please contact Office Manager & Registrar, Dana Blavat at dana@vvsaz.org.