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#547713 - 05/15/06 01:21 PM CRA-Donations
Rather be in Vegas Offline
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Joined: Oct 2005
Posts: 248
Florida
Would a bank get credit for making a donation to a school fund raising for renovation of school equipment, purchase shool uniforms for the school baseball team? etc. This is a school where students come from mid/low income areas.

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CRA
#547714 - 05/15/06 03:41 PM Re: CRA-Donations
bubs63 Offline
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bubs63
Joined: May 2003
Posts: 665
Highland Park IL
Is the school Low/Mod? In other words does the population of the school greater than 51% low/mod? If it is, you could get credit for making donations to the school.
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#547715 - 05/15/06 04:47 PM Re: CRA-Donations
Don_Narup Offline

Power Poster
Joined: Jul 2001
Posts: 3,708
Las Vegas Nevada
It may qualify as supporting Youth Programs but the activity needs to be located in a Low/Moderate area and benefit Low/Moderate income individuals.
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#547716 - 05/15/06 10:39 PM Re: CRA-Donations
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
At my former bank we were able to get credit for a school grant by showing the lunch program statistics which demonstrated that the majority of students were from low/mod families.
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#547717 - 05/15/06 11:13 PM Re: CRA-Donations
Don_Narup Offline

Power Poster
Joined: Jul 2001
Posts: 3,708
Las Vegas Nevada
Check the new Community Development qualifications which now apply to all size institutions.

IMO they are more restrictive and some of what used to qualify may no longer.

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