Bank of the West to Help Schools With Employee Contribution Matching; Bank Allocates $1.5 Million in Dollar for Dollar Program.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Oct. 15, 2003 Recognizing the strained budgets faced by schools and universities, Bank of the West announced today the creation of a $1.5 million charitable contribution charitable contribution n. in taxation, a contribution to an organization which is officially created for charitable, religious, educational, scientific, artistic, literary, or other good works. matching program for its nearly 6,000 employees, to channel funds in support of public and private educational institutions. "Public schools and universities in the Western states are facing an exceptionally difficult time," said Don J. McGrath, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bank of the West. "Private institutions, from pre-schools to universities, are also experiencing budget problems as costs rise and families are less able to meet tuition demands. By matching contributions Matching Contribution A type of contribution an employer chooses to make to his or her employee's employer-sponsored retirement plan. The contribution is based on elective deferral contributions made by the employee. , we hope to encourage and support our employees in helping to make a small difference in education in communities we serve." Through December 15, Bank of the West will match, dollar for dollar, its eligible employees' contributions to public educational institutions (elementary through college) and accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. tax exempt nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. schools. About Bank of the West's Community Support: Bank of the West believes it has an obligation to help improve the social and economic health of communities in which it operates. Last year, Bank of the West set a goal of making $30 billion in loans, investments, contributions and services to low- and moderate-income individuals, small businesses and community-based organizations over 10 years. The bank has already met more than 20% of that overall goal. With $28 billion in assets, Bank of the West (www.bankofthewest.com) currently operates nearly 300 branches in California, Oregon, Washington, Idaho, Nevada and New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). . |
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