For one group of men in the East Valley that are passionate about making an impact in the community is an effort they have been devoted to for nearly four decades. Today, with more than 100 active and lifetime members, the Chandler Compadres have certainly struck the right chord, all to the benefit of local kids and families in need.
Founded in 1980, the Chandler Compadres at its core is a fundraising organization whose list of beneficiaries include the Boys & Girls Clubs of the East Valley, ICAN Positive Programs for Youth, Chandler Christian Community Center, and the Chandler Education Foundation, among others. Nearly 99% of every dollar that the group raises go directly to charity, with the last percent going mainly to credit card administration costs occurred to process donations and other minimal overhead.
Their current membership is made up of successful and civic-minded individuals, which includes leaders across a vast array of industries, including agriculture, engineering, banking, law, advertising, real estate, small business and government.
While the Compadres host a handful of events throughout the year, the majority of their fundraising comes via three different avenues. Each spring they host a golf tournament, and in the fall they throw a themed-party titled Rock the Cause for kids.
The third way is through the Chandler Compadres Qualifying Charitable Organization (QCO) Tax Credit Program. Anyone who pays state taxes may be eligible for the QCO Tax Credit, which–unlike a deduction–reduces your state income tax bill dollar-for-dollar. For example: if you owe $1,000 in state income tax, and you donate $800, you may subtract the $800 from your tax bill and pay the state only $200. You can even use your $800 donation as a federal income tax deduction.
Many people don’t realize the Arizona State QCO Tax Credit allows donors to direct their hard earned tax dollars to a local, qualifying charity of their choice, at the same time reducing their personal state tax liability. That same reduction may also reduce their federal tax liability. It’s a WIN for them and the charity.
In 2016, Joe and Mary Taxpayer, a married couple, donate $800 to a private school tuition organization, $300 to a public school for the extracurricular activities credit and $800 to the Chandler Compadres’ QCO Tax Credit Program. Joe and Mary owe $2,000 in 2016 state income taxes. The tax credits noted above reduce their tax liability by the combined amount of $1,900, and lower their Arizona tax liability to $100.*
When you take advantage of the QCO Tax Credit and you have a relationship with a Chandler Compadre, list them as a referring Compadre, otherwise list Jeremy McClymonds as referring Compadre.
*Tax circumstances are different for everyone. Please consult your tax advisor.
For more information on the Chandler Compadres, including how to get involved or to make a donation, please visit their website at ChandlerCompadres.org.