Sometimes Mike Riley is on the giving side of the desk, as the vice president of community relations for M&T Bank.
Other times he?s on the asking side of it, as the president of the Maryland Committee for Children and chairman of the Ready At Five Partnership.
Regardless of where he?s sitting, Riley hopes banks will be able to continue their charitable contributions to nonprofit organizations. He said a tightening economy hasn?t changed M&T Bank?s giving plans but may affect nonprofits seeking its help.
“The status of the economy is not something that changes what we give in the community,” Riley said. “When things geta little tougher, [nonprofits] will look for other sources. I would imagine we may get more requests, and requests for larger dollar amounts.”
Riley said the bank donates about $2.5 million annually to charitable organizations, in addition to loans made to nonprofits.
However, he said the bar for receiving that funding is high, and based on the nonprofit organization?s work in the community, not just its need in tough economic times.
“We are not in the business of budget offsets ? the reason of ?I need the money? or ?someone else didn?t give it to me? is not a real strong reason,” he said. “We want to look at who they are and what issue they deal with in the community.”
Provident Bank contributes about $800,000 annually to local charities, as well as time and expertise donated by employees for projects around the city, according to bank spokeswoman Vicki Cox. Cox said the bank?s projects are focused on education and financial literacy.
Cox said Provident is also keeping an eye on the economy.
“We hope to remain at our present giving levels. I think every business does,” she said. “But again, we don?t know how the economy is going to be.”
PNC Bank entered the Baltimore market in September with its purchase of Mercantile Bank, and at that time announced $25 million in support for nonprofits focused on the needs of the city, including $5 million distributed by the Greater Baltimore Foundation.
Despite the economic slowdown, the bank said it plans to continue its contributions.
“We remain committed to our game plan,” said spokeswoman Darcel Kimble. “The company has a really strong commitment to the communities it serves.”
