Hi all I'm getting a ton of requests for donations to foodbanks, but am uncertain if they qualify for CRA purposes. Obviously a service to low-mod income. We're a FDIC regulated bank (large).

Has anyone dealt with this? Many thanks!

They would qualify if the serving low mod you just need to document what the mission of the group is

Our bank is doing a food bank too. My question is does it matter if you give canned food items or donate money? Both activities will qualify correct?

You can count the cost of the goods purchased if the bank actually paid for them and didn't collect them from others.

Not sure about other parts of the country, but our food banks don't actually work directly with individual or family clients. Our food banks only work with other non-profits that distribute the food to their client base.

I am not sure if that would complicate the issue. You would hope the non-profit organizations getting the food from the food bank would be able to evidence their clients are LMI.

Pale,

All you need is a mission statement from the food bank. Some where in that mission statement it will discuss who they are working wtih or targeting. That should be enough to get you CRA credit