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#2200645 - 12/13/18 07:24 PM Christmas Party Donations - CD?
Mel in WA Offline
Diamond Poster
Joined: Mar 2013
Posts: 1,265
At our company Christmas party, employees donated funds towards the local food bank. Can this somehow be presented as community development? It was a bank wide function that definitely benefits low-to-moderate income.

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CRA
#2200653 - 12/13/18 07:41 PM Re: Christmas Party Donations - CD? Mel in WA
Norman Paperman Offline
Diamond Poster
Norman Paperman
Joined: Aug 2012
Posts: 1,700
48.934476, -114.343735
I don't think you'll get credit for employee donations. If the bank made a corporate contribution, sure.
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#2200676 - 12/13/18 08:46 PM Re: Christmas Party Donations - CD? Mel in WA
CompliantOkie Offline
Gold Star
CompliantOkie
Joined: Dec 2013
Posts: 425
OOOOOOklahoma
I can confirm examiners will not give you credit for employee donations.

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#2201340 - 12/21/18 06:14 PM Re: Christmas Party Donations - CD? Mel in WA
mrogersfib Offline
100 Club
Joined: Aug 2018
Posts: 116
This does not qualify for CRA as employee donations are not at the behest of the bank. If your bank has a foundation, or a philanthropic department, and you are able to convince them to match the employee donation to the food bank then the banks contribution could be considered under the investment test.

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