FirstBank, the nation’s third-largest privately held bank with numerous banking locations in Arizona, announced that it has donated $500,000 to multiple youth education nonprofits, including: $300,000 to the Arizona Leadership Foundation (ALF), $190,000 to Catholic Education Arizona (CEA), and $10,000 to Arizona Tuition Connection.
A School Tuition Organization cannot award, restrict, or reserve scholarships solely on the basis of a donor’s 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. (A.R.S. 43-1089)