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#1504654 - 02/03/11 06:19 PM Investment Credit for Donation in Empowerment Zone
Tennismom Offline
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Tennismom
Joined: Jan 2004
Posts: 778
I posted this on the tail end of another thread and did not receive a reply so I thought I would pose the question in a new thread.

Can a bank receive "Investment" credit for a donation to a non-profit located in an Empowerment Zone, Enterprise Community, or Revitalization Area or is this applicable only to the "Lending" test?

The mission of the non-profit does not include a community development purpose. I was using the angle that this organization is conducting its business in what was once an abandonded building and by its presence has stabalized the census tract. Other businesses have moved into the neighborhood and the organization's activities will bring visitors to the area. No permanent jobs have been created as this organization is staffed by volunteers.

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CRA
#1505827 - 02/06/11 06:35 PM Re: Investment Credit for Donation in Empowerment Zone Tennismom
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
I think you could IF you can demonstrate that the funds actually provided CDL benefit to the area. So, it would hinge on what your funds went toward, and how the group benefits the area. And examiner opinion of course!
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