findCRA selects nonprofits to be listed on Community Qualifier by first aggregating public nonprofit data from multiple sources and then analyzing this data using our proprietary algorithm, CRANIA (the Community Reinvestment Act Nonprofit Identification Algorithm).
We know that banks and CRA examiners rely on trusted government and industry resources to measure CRA performance. That’s why we compile key data from over 20 sources including the Internal Revenue Service (IRS), the U.S. Census Bureau, the Federal Financial Institutions Examination Council (FFIEC), the Community Development Financial Institutions Fund (CDFI Fund), the Department of Housing and Urban Development (HUD), and more. You can see a more comprehensive list of sources at this link. Using these sources, we aggregate nearly 1,400 data points and incorporate them into our nonprofit qualification process.
Using CRANIA, we narrow the list of nonprofits down to the ones that are aligned with CRA qualifications. Generally, in order to pass our initial qualification, a nonprofit must:
- Be registered with the IRS and be current with their tax filing requirements; and
- Have a primary purpose, programs, services or mission that falls into one or more of the qualified community development categories defined within the CRA regulation. These generally include nonprofits that are supporting activities such as affordable housing, economic development, revitalization, stabilization, service to low- or moderate-income individuals or support of low- or moderate-income areas or other disaster, distressed or underserved areas.
After the initial CRANIA analysis, our CRA experts further review and curate the results. We ensure that each nonprofit’s information is accurate to assist in a bank’s decision process.
Once a nonprofit has passed all of our due diligence, they’re loaded to our Community Qualifier platform for bank users to quickly find and conduct research or outreach. Each CRA-qualified nonprofit has a custom profile including over 70 key data points from the same trusted sources as well as our own analysis, highlighting exactly how each is CRA-qualified.
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