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Oracle Schools Foundation members stand ready to serve the district.
John Hernandez | Miner
From the Oracle Schools Foundation
Are you wondering how your donations to the Oracle Schools Foundation will affect your ability to make tax credit donations to the Oracle School District? In two words, they don’t! There is no connection between the two programs except that the monies donated through both programs will help improve the educational programs at the Oracle School District.
Donations to the Oracle Schools Foundations are tax-deductible, donations to a 501(c)(3) charitable organization. This means that when you file your federal income tax returns, any donations you make will reduce your taxable income and therefore, likely reduce the tax you owe. You may donate any amount you desire, and, you can give these donations at any time.
Tax credit donations are however, are entirely different. Any tax credit donations you designate for the Oracle School District, reduce your Arizona State tax dollar-for-dollar up to your $200 per person limit. To be credited toward the year for which you are filing taxes, you must make the tax credit donation by April 15 of the following year. This is a change from last year when you had to make the donation by Dec. 31 of the same year.
Funding cuts that have placed Arizona last in the nation for K-12 public education funding support have forced school districts to look elsewhere to fund even basic needs. This is why tax credit monies are so important and also why the Oracle Schools Foundation was established to help fill the gaps. The Oracle School District has greatly appreciated past generosity, and hopes students can continue to count on it.
There are news or informational items frequently written by staff or submitted to the Copper Basin News, San Manuel Miner, Superior Sun, Pinal Nugget or Oracle Towne Crier for inclusion in our print or digital products. These items are not credited with an author.
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