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Article: Giving has its dividends
- Article from:
- The Record (Bergen County, NJ)
- Article date:
- May 21, 2007
- Author:
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RICHARD NEWMAN, STAFF WRITER
The Record (Bergen County, NJ)
05-21-2007
Giving has its dividends -- Charities use bank that tithes
By RICHARD NEWMAN, STAFF WRITER
Date: 05-21-2007, Monday
Section: NEWS
Edtion: All Editions
Donating money to local non-profits often makes good business sense.
For banks, some donations qualify for Community Reinvestment Act credits, which helps them remain in good standing with regulators.
It also can't hurt to be on the good side of well-connected business owners who sit on the boards of many charities. They could become loan customers or provide referrals.
And there are tax advantages. U.S. corporations give between 1 percent and 2 percent of pre-tax profit to ...