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#2191465 - 08/31/18 08:23 PM SCORE business mentoring program
Lori01 Offline
100 Club
Joined: Jan 2007
Posts: 175
VT
Has anyone ever had success making a donation to this program and getting CD credit?

They are a national mentoring and education program that provides free services to help small business or want-to-be small business owners. It's one of those programs that really meets the spirit of CRA CD but I'm finding it hard to quantify the "letter of the law" of CRA CD. They don't collect data on the income of their clients, but you just KNOW they are LMI folks.

Just wondering how others might have made out with this program?

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#2191486 - 09/01/18 12:18 AM Re: SCORE business mentoring program Lori01
mrogersfib Offline
100 Club
Joined: Aug 2018
Posts: 116
It qualifies for CRA as their main focus is providing free consulting for small businesses. You can hire a 3rd party to provide financial education, and take credit for it under your service test as long as the 3rd party isn't subject to CRA. Just send a letter to the director of that chapter requesting to know how many businesses have either gross revenue less than 1MM, or meet the definition of such under SBIC or SBDC. Then they send it back with a signature and that is your documentation for the exam cycle.

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