We have been approached to donate funds to a program which will have local 5th graders perform community service to learn compassion, etc. The school that has the grant for this program fits in with the CRA income level however their purpose doesn't fit in with CRA credit guidelines of providing financial services, education, etc. I am thinking though if we ask the coordinator to include a financial education component to their list of community service that we could get some CRA bang for our buck. What would our chances be to get credit that way?

I did this post - didn't realize I was logged out.

I'm a little slow today. It's a donation to a school that meets CRA guidelines (I'm guessing it's a title one?)

Donations do not need to "provide financial services" (although they do since they're "financial" in nature)

I donate to title one schools for all kinds of things like, peaches, coats, opera tickets, etc., They all qualify Take CRA credit for this as a donation to LMI audiences (Title One Schools). You don't need any more justification.

(Perhaps you're thinking service credit where you'd need to be providing "financial services or training"?)

Yes, I think I am confusing service credit. Yes, it is a title I school and although it is not in a LMI tract they do have 77% of their students receiving free or reduced price lunches as well. Thanks!

As long as it's Title One, you don't even have to think of the percentages They make it easy for us.

I don't know if you've ever used these, but just in case you're interested:

http://www.bankersonline.com/tools/tools_compliance.html#cdforms

I developed these (three names ago) for reporting all CD activities. I suppose with the new reg I need to update them, but for this particular donation you're writing up, they fit the bill. You might give them a try. We do this on all CD activities and provide the information to the examiner with a spreadsheet total. They love this, and never question the donation since it's written up so clearly.

Thanks, I actually used these in the exam we had this spring and our CRA examiner did love them! He came in prepared to explain the differences in service, investment, and loans I think and was pleasantly surprised when I presented him with a binder full of these already.

It's fun to suprise the little darlings isn't it