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New as Intermediate Small Bank

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  • #37399
    walley1
    Participant

    Wound any of these count?
    Donations made to LMI schools for sponsorships of baseball, basketball, etc. programs, the donation comes with the bank name on a field sign, etc.
    Sponsoring the banquets for the teams?
    Donating for teams to travel to playoffs (some of these kids could not go without the donations)

    Not sure if the money had to be spent for education or if other school functions would be considered for LMI schools.

    #37403
    kboatwright
    Participant

    In my experience the expectation for these types of donations need to be justified. So you would need to know how much of the donation went to LMI students. For example, how many of the children who participated on the team are from LMI neighborhoods? You would need to know the dollar amount and/or percentages that benefited the LMI students. Even understanding those facts may not guarantee your Bank CRA credit.

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