Posted By: Mel in WA
Christmas Party Donations - CD? - 12/13/18 07:24 PM
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.
Posted By: Norman Paperman
Re: Christmas Party Donations - CD? - 12/13/18 07:41 PM
I don't think you'll get credit for employee donations. If the bank made a corporate contribution, sure.
Posted By: CompliantOkie
Re: Christmas Party Donations - CD? - 12/13/18 08:46 PM
I can confirm examiners will not give you credit for employee donations.
Posted By: mrogersfib
Re: Christmas Party Donations - CD? - 12/21/18 06:14 PM
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.