On your findCRA nonprofit profile, you can add CRA Income Characteristics for the clients your nonprofit serves at both the organization level and for each of your programs. The CRA Income Characteristics can be different for each option.
The primary focus of CRA is supporting communities and individuals who are low- or moderate-income or “LMI“. Low-income individuals have income that is 50 percent of less of the median income in the area where they live. Moderate-income individuals have income that is between 50 percent and 80 percent of the median income in the area where they live. You can learn more about how to calculate LMI income here.
In the Interagency Q&As for CRA, the banking agencies also outline several other income characteristics that qualify for support under the CRA requirements. You can see the specific guidance here. When you’re selecting which CRA Income Characteristics apply to the clients you serve, the options include:
- Low-Income Individuals: individuals whose income is 50 percent or less of the median family income for the area where they live
- Moderate-Income Individuals: individuals whose income is between 50 percent and 80 percent of the median income for the area where they live
- People Living Below Poverty Level: individuals whose income indicates that they are living at or below the Federal poverty level for the area where they live
- HUD Assistance Recipients: recipients of government assistance programs offered by the U.S. Department of Housing and Urban Development where the program income qualifications are equal to or more restrictive than the LMI guidance outlined in CRA for LMI individuals; includes programs such as Section 8, Section 202, Section 515 and Section 811
- Medicaid Recipients: recipients who are eligible for or are receiving assistance under the the Federal Medicaid program; does not include Medicare recipients
- Pell Grant Recipients: students who are eligible or have currently received grant funds through the Federal Pell Grant program which supports higher education for individuals with execeptional financial need
- SNAP Recipients: individuals who are eligible or receiving assistance through the Federal Supplemental Nutrition Assistance Program
- SSI Recipients: individuals who are receiving government public assistance through the Supplemental Security Income program which is a Federal program designed to provide supplemental assistance to help aged, blind or disabled individuals who have little or no cash income to meet basic needs such as food, clothing and shelter
- USDA Free or Reduced Lunch Students: students or their families from a school where the majority (more than 50 percent) of students qualify for free or reduced-price meals under the U.S. Department of Agriculture’s National School Lunch Program
- Welfare Recipients: individuals who are eligible for or are receiving assitance through other forms of government programs where the program income qualifications are equal to or more restrictive than the LMI guidance outlined in the CRA for LMI individuals
You should select as many CRA Income Characteristics that apply to your organization or program. However, please note that a bank may request additional information for their documentation purposes to support your selections; so be sure to only select the CRA Income Characteristics where you have documentation available.