Brophy Community Foundation (BCF) handles all the paperwork required by the Arizona Department of Revenue (ADOR}.
- Contact Carol Brown at 602-264-5291 x6521 or firstname.lastname@example.org to initiate the process before July 1st as the cap is reached quickly.
- The application for approval must be submitted by Brophy Community Foundation to the ADOR.
- If the program cap has not been met, ADOR approves the request within 20 days and notifies Brophy Community Foundation.
- Brophy Community Foundation will immediately notify corporate donor of approval.
- The corporation has 20 days from the date of approval by ADOR to make the contribution payable to Brophy Community Foundation.
- The corporation takes the tax credit on its tax return, but may carry any unused credit forward for up to five years after the contribution was made.
- To claim the credit, the corporation lists the credit on the standard 120 form, and files a 335 form attached to the return. The corporation may take either the federal deduction or the Arizona state credit, but not both.