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Kickball Fundraiser November 2022

Arizona Gives Day

Join us for 24 hours of online giving to benefit our local nonprofits.

April 5-6, 2022 www.azgives.org/clothescabin

One Small Step is proud to participate in Arizona Gives Day 2022!

Arizona Gives Day is 24 hours of giving April 5-6, just before the tax deadline. Since its inception, Arizona Gives Day has raised nearly $30 million for nonprofits statewide. "Arizona Gives allows nonprofits to win additional money from the prize pool on Arizona Gives Day (typically $180k-$200k).

Some of the prizes are based on the total amount raised within a particular category. Categories are based on annual revenue size or location. Nonprofits can also win prizes through random drawings just for participating or being an Alliance member. For a donation to count towards the total amount raised it must be made through the AZGives.org website in the allotted time frame for early giving (3 weeks prior) and on Arizona Gives Day."

One Small Step is an Arizona Qualified Charitable Organization (QCO 20396) How do I know if my donation is tax deductible (federal or state)? FEDERAL TAX RETURNS: As of 4.6.20- Please consult with a tax advisor to determine if their charitable donation or portion of their charitable donation is tax-deductible.

Upon the passing of the CARES Act, there have been several changes to charitable giving.

INDIVIDUALS- All individuals can now deduct $300 ($600 filing jointly) of cash "qualified contributions" above the line on their tax return starting with the 2020 tax return. (This has been extended to 2021 tax returns as well.) "Qualified contributions" include public charities, exempt hospitals, churches, private operating foundations, and a flow-through private foundation. Does not include private non-operating foundations, supporting organizations, or donor-advised funds. Non-cash contributions and contributions to these excluded entities remain eligible for deduction as in past. No cap on 2020 and 2021 deduction of "qualified contribution" of cash and food inventory; may be used to zero out tax liability and even carry forward unused portion for up to 5 years (normally cap is 60% of adjusted gross income/AGI. This means donors can deduct $300 on page one and the remainder on Schedule A without limit, potentially zeroing out the tax liability.)

CORPORATIONS & BUSINESSES- The CARES Act increases the cap on charitable contributions from 10% to 25% of taxable income for 2020. (This has been extended to 2021 as well.) Employer contributions to employer-sponsored disaster relief funds hosted by community foundations and other public charities can constitute 'qualified contributions' eligible for this increased limit. ALWAYS consult a tax advisor before making a donation. STATE TAX RETURNS: As of 2019, Arizona residents can now deduct 25% of their total donations for the year on their state tax returns regardless of whether you take the standard deduction or itemize on your federal tax returns. Qualifying state tax credit nonprofits are searchable on AZGives.org.

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