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#2100240 - 09/23/16 11:24 PM Bank Sponsored Fundraiser for Free Clinic
2old2care Offline
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Joined: Oct 2006
Posts: 710
PA

The bank was a sponsor for a concert in our CRA Assessment area for a free medical clinic. All proceeds go directly to patient care. All patients are in the low-to-moderate income levels. Most being the homeless population. The clinic provides primary care services to patients of all ages. If patients are eligible for care, they are encouraged to use the Free Clinic as they would their family doctor, and avoid costly emergency room visits. In addition to the diagnosis and treatment of medical conditions, the clinic performs routine physicals and health maintenance screenings. To better treat patients, clinic physicians are able to order basic diagnostic x-rays and laboratory tests. Free influenza and pneumococcal vaccinations are provided. Family planning and prenatal care are not provided, but a list of resources that offer free and sliding scale fees is available. If eligible patients cannot afford medications prescribed for them, the clinic provides assistance.

Even though the funds donated paid for the fundraiser, is there CRA credit for the bank?

Thank you.

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#2100242 - 09/24/16 04:47 AM Re: Bank Sponsored Fundraiser for Free Clinic 2old2care
Inspector Offline
Gold Star
Joined: Apr 2016
Posts: 275
As the sponsor what did the bank pay for? If the donations fund the event then not all proceeds go to benefit LMI individuals. You should get credit for funds that the bank donated but if no funds are provided that benefit the organization then you would be pressed to get credit.
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Opinions expressed are my own and do not reflect legal advice or the opinions of my employer.

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#2100251 - 09/24/16 02:46 PM Re: Bank Sponsored Fundraiser for Free Clinic 2old2care
2old2care Offline
Platinum Poster
Joined: Oct 2006
Posts: 710
PA
Thank you for the clarification. Yes, we funded the event.

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#2100271 - 09/26/16 12:30 PM Re: Bank Sponsored Fundraiser for Free Clinic 2old2care
Pale Rider Offline
10K Club
Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
Next time consider giving the money directly to the medical clinic and let them fund its own event. Pick a program at the clinic to support and give them the money for the program. It frees up funds they have to finance the event. Easy peasy......
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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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#2100442 - 09/26/16 08:32 PM Re: Bank Sponsored Fundraiser for Free Clinic 2old2care
Princess Romeo Offline

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Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
Agreed. One of the most depressing sights to see from Accounts Payable are the copies of checks written to sponsor Golf Tournaments and the like. **sigh** Yes, the Golf Tournament may raise money for the organization, but the money from the bank is going towards the green fees, the swag bags, the lunch, and so on.

And let's face it, we often send our BD people to these events so they can entertain clients.
Last edited by Princess Romeo; 09/26/16 08:33 PM.
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Regulations are a poor substitute for ethics.
Just sayin'

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#2100446 - 09/26/16 08:45 PM Re: Bank Sponsored Fundraiser for Free Clinic 2old2care
2old2care Offline
Platinum Poster
Joined: Oct 2006
Posts: 710
PA
More golf outings than I care to see. Thank you for your input.

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