findCRA, a Louisville-based online service focused on social impact and community reinvestment, announced today that they have partnered with AAA Scholarship Foundation, Inc. (AAA), a 501(c)(3) nonprofit organization and approved Scholarship Organization serving six states.
AAA Scholarship Foundation administers innovative, state-mandated tax credit scholarship programs that fund K-12 education scholarships exclusively for low-income and special needs children. Through these programs companies – including financial institutions – can redirect their state corporate taxes to AAA to fund scholarships for low-income children to attend the school that best meets their individual learning needs. Participating corporations receive a dollar-for-dollar tax credit for their redirection in Alabama, Arizona, Florida, Georgia, and Nevada and up to a 90 percent tax credit in Pennsylvania. This tax credit allows the corporation to give educational opportunities to at-risk children at little or no cost to the corporation. For banks there is an added benefit, as examiners at the bank regulatory agencies have approved dollars transferred to fund scholarships through this program to qualify for positive consideration under the CRA investment test.
“At findCRA, we are continually seeking new ways for banks to make a measurable impact in their communities. When we heard about the innovative way that AAA supports CRA investment, we knew that we wanted to make our banks aware of this great opportunity and support AAA’s efforts to make a difference in the lives of at-risk children from low-income families throughout the country,” said Ben Loehle, CEO & Co-Founder of findCRA.
findCRA’s innovative, online platform assists banks and nonprofits in building stronger communities. It works to educate nonprofits and qualify their needs under the Community Reinvestment Act with the ultimate goal of maximizing bank support in the community. Through this partnership, findCRA will work directly with AAA to identify banks interested in participating in AAA’s innovative program.
“findCRA is providing a meaningful service to the financial industry and nonprofits, helping to make connections between the two that greatly benefits the community,” says Kim Dyson, CEO of the AAA Scholarship Foundation. “We truly value our partnership with findCRA as it provides additional CRA resources for our donors in the banking industry, and helps other financial institutions learn about the CRA credit opportunities available through participation in the AAA Scholarship Foundation’s state tax credit scholarship programs. Increased awareness means increased support for the low-income families in our programs who are desperately seeking educational options for their children.”
To learn more about the AAA Scholarship Foundation and how to participate, visit: