FREQUENTLY ASKED QUESTIONS AND ANSWERS
Q: Do my dues include PAC donations?
A: No. The association is prohibited by law from doing so.
Q: What is the CEO Challenge?
A: The CEO Challenge recognizes those CEO’s who have gained 100% participation in BancPac donations from their bank officers and/or directors. All qualifying CEOs will have their names placed in a drawing for a prize to be awarded at the annual CBAI convention.
Q: When should I give?
A: The accounting year runs from July 1 to June 30 in conjunction with CBAI’s fiscal year. Contributors are listed in CBAI’s Annual Report. The Top Ten and other distinguished contributors are honored at the awards and recognition event during the annual CBAI convention.
Q: Are donations deductible?
A: PAC contributions are not deductible as charitable contributions for federal or state income tax purposes.
Community BancPac contributions are reported to the State Board of Elections. A copy of our report filed with the State Board of Elections, Springfield, Illinois, is or will be available upon request. State law requires political committees to use best efforts to collect and report the name, occupation, and name of employer of individuals whose contributions exceed $500 per calendar year.
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