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#1971096 - 10/22/14 04:15 PM Relay for Life CRA Donations
Jsoconno Offline
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Jsoconno
Joined: Mar 2014
Posts: 176
North Carolina
Would donations to the American Cancer Society and Relay for Life be considered CRA eligible?

I'm having a hard time finding data to support where donated dollars go or any indication that the organization carves out a portion of those funds for low to moderate income families.

What are others doing regarding large health organizations like ACS or the American Heart Association?
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#1971120 - 10/22/14 04:49 PM Re: Relay for Life CRA Donations Jsoconno
Pale Rider Offline
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Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
The "diseases" are very difficult in terms of CRA credit. These organizations serve all segments of society and in general, do not have a community development purpose.

That being said, some do have carve outs for LMI. The one case that comes to mind is March of Dimes.

But cancer and heart diseases, we class them as non-CRA and look for low hanging fruit.
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Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.


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#1971140 - 10/22/14 05:18 PM Re: Relay for Life CRA Donations Jsoconno
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
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When working at a smaller bank where the "low hanging fruit" was few and far between, we did successfully restrict some donations to LMI for cancer society, etc. They used those funds for some special programs. We did unrestricted donations as well and those of course did not count.
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#1971143 - 10/22/14 05:25 PM Re: Relay for Life CRA Donations Jsoconno
Tennismom Offline
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Tennismom
Joined: Jan 2004
Posts: 778
Originally Posted By: Jsoconno
What are others doing regarding large health organizations like ACS or the American Heart Association?


Agreed. Voluntary health organizations are difficult to qualify for CRA investment credit. Oftentimes the organizations use funds for research and public education which cannot be traced directly to benefiting low- and moderate- income individuals.

To answer your question, we qualified a donation to the American Cancer Society when funds were to support a mobile mammography unit that served residents of rural and underserved communities. Similarly, the bank received investment credit for a donation to the American Diabetes Association directed towards free screenings for uninsured or underinsured.

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