South Carolina Association for Community Economic Development

“Management reviews the Form 990 for completeness and accuracy. Once it is approved, it is forwarded to the Board of Directors for review and comment period. At the completion of this comment period, and once all comments are addressed, the Form 990 is filed with the Internal Revenue Service.”

“Annually the Board of Directors is provided a copy of the organization's by-laws to re-familiarize themselves with the organization governing documents. The Board of Directors is required to review and sign a conflict of interest statement. The personnel policy, which includes policies of conduct that include conflicts of interest, is reviewed annually by the executive committee for needed changes, and when changes are made to the policy, each employee is provided a copy of the updated document and is required to sign an affirmation of their review. Each new employee is provided a copy of the personnel policy and is required to sign and affirmation of their review.”

“The organization consults with salary surveys provided by the South Carolina Association of Nonprofit Organizations, as well as other state community development corporations, when developing the President and CEO and other employee salaries. Committees of the Board of Directors review and conclude on this information when providing a recommendation to the Board for approval.”

“The Organization makes its Public Disclosure Form 990 available upon request at its corporate offices. The Organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request in its corporate offices.”

“The organization had no reportable payments to a vendor requiring compliance with backup withholding rules, nor did they provide any reportable gaming, gambling, or winnings to a prize winner.”

“Individual Development Account Program Program Description: The South Carolina Association for Community Economic Development (SCACED) statewide Individual Development Account (IDA) program was held 2001 2015. The IDA program is a 3:1 matched savings account program that allows individuals to use their savings and match money toward any of three productive assets: a home, a small business or post-secondary education. Participants are required to save their funds, participate in financial literacy education and asset based training before having access to their match funds. 2001 2015 Statewide IDA Program:Funds Invested: $5,000,000 in state money matched an additional $500,000 in federal funds for a total of $1,000,000 100 homes purchased: IDA funds leveraged a total of $10,000,000* in homes sold (*represents average home price of $100,000) 92 students went back to school: IDA funds leveraged $1,113,200* in tuition (*represents average tuition cost of $12,100) 183 businesses were started: IDA funds leveraged a total of $3,806,400*(*represents 183 jobs created at $20,800 average annual salary of minimum wage earner in South Carolina 40 hours per week at $10/hour from the Bureau of Labor Statistics) Leveraged Funds: $1,000,000 in IDA funds leveraged a total of $14,919,600 economic impact in South Carolina (Nearly a 15 to 1 Return on Investment) 100 homes purchased, 92 students went back to school and 183 business started Community Development Tax Credit As previously stated, The South Carolina Community Economic Development Act authorizes grants, loans and tax credits to support certified CDCs and CDFIs. In addition to the Community Economic Development Fund grant program, the legislation also authorizes $5 million in South Carolina Community Development Tax Credits for eligible investments and contributions to organizations certified by the South Carolina Department of Commerce as Community Development Corporations (CDCs) and Community Development Financial Institutions (CDFIs). The state allows a 33% credit against state tax liabilities to South Carolina businesses, corporations, insurance companies, financial institutions, and individuals for each dollar invested in or donated to these community economic development organizations. From the 2001 through 2014, the CD Tax Credit Program attracted $5,502,227 of investments in and contributions to our state's certified CDCs and CDFIs awarding over $1,815,735 to various individual and corporate investors and contributors. In 2015 alone, individuals and corporations utilizing the Community Development Tax Credit - have invested $3,030,303 in nine different certified CDCs and CDFIs that operate economic development programs in under-served communities across the state; these qualified investments have made $1,000,000 in tax credits available to those investors the first year in which the full $1 million allocation of credits has been utilized. The remaining $2,217,410 in available credits could attract an additional investment of $6,719,423 for these programs in the future and create economic opportunity and hundreds of new jobs in economically-marginalized communities in South Carolina. Annual ConferenceIn 2015, the CED Conference hosted 20 workshops on a variety of topics relevant to the community economic development industry as well as 2 networking opportunities and a Tribute to the Mother Emanuel 9. Workshop topics included Micro-business Development, Clean Energy Manufacturing, Place Based Economic Development and Eliminating Generational Poverty through Financial Education.Keynote speakers from 2015 included: The Honorable Marlon Kimpson, SC SenatorChuck Wehrwein, COO of NeighborWorks AmericaDr. James Clements, President Clemson University”

“Micro-enterprise Partnership Program In 2014, the South Carolina General Assembly passed - and Governor Nikki Haley signed into law - the Micro-enterprise Development Act authorizing the Department of Commerce to establish the Micro-enterprise Partnership Program with the purpose of promoting and facilitating the development of our state's micro-enterprises to ensure that South Carolina's micro-enterprises have the capacity to create jobs, enhance entrepreneurial skills and abilities, and increase the capacity of low-income households to become self-sufficient The SCDOC has decided to partner with the South Carolina Association for Community Economic Development (SCACED) to execute this program, which includes a Micro-enterprise grant program as a development services program to foster a permanent, statewide infrastructure of microloan delivery organizations. These organizations support the Micro-enterprise and small business sectors. Thanks to the SC Department of Commerce, $200,000 in capital was made available to support microlending programs for two organizations Community Works Carolina, Inc. and the Charleston Citywide Local Development Corporation - at their requested amount of $100,000. The two awards were projected to facilitate the financing of at least 15 loans to low-income entrepreneurs creating or retaining at least 15 jobs while leveraging an additional $200,000 creating $400,000 in total loan capital and an anticipated collective economic impact of $800,000 for underserved communities. Actual Impact so to date:13 loans deployed totaling $111,629 in loan capital55 jobs created or retained69 individuals completed small business training and coaching137 hours of technical assistance provided to microentrepreneurs$200,000 in loan capital has been leveraged with an additional $600,000 from other sources creating an anticipated collective economic impact of $1.6 million Healthy Food Access Initiative The Healthy Food Access Initiative is designed to increase access to healthy foods for economically-underserved communities and specifically targets low-access areas known as food deserts by supporting the work of community-based groups embedded in these communities. Through a partnership with the Charleston District of the United Methodist Church and the USDAs Natural Resource Conservation Service, SCACED helped coordinate a Faith & Food Justice Summit in 2015 in both North Charleston and Summerville collectively providing 62 local residents with the knowledge and resources to develop community gardens in their respective communities. On January 31st, the Charleston District of the United Methodist Church partnered with SCACED to host the second Faith & Food Justice Summit in Summerville to engage with community and church leaders in Berkeley, Dorchester and Charleston counties about expanding access to local, healthy foods in underserved communities and food deserts of the Tri-County Region. SCACED helped coordinate the forum and secure speakers for the various break-out sessions which included workshops on Supporting Food-Related Development in SC (SC Community Loan Fund), Sustainable Community Gardens (Clemson University), Federal Funding to Support Healthy Food Projects (USDA), and Organizing the Church to Create a Sustainable Healthy Food Initiative (GrowFood Carolina). The goal of the forum was to provide community leaders with resources and training necessary to develop community gardens in the Charleston area. SCACED and the Charleston District UMC are currently coordinating one additional Summit in Berkeley County at the Moncks Corner UMC. Through this partnership and connections with landowners provided through the Summits, SCACED is working to build or expand six community gardens in the Berkeley, Charleston, Dorchester area by the spring of 2016. As of December 31 2015, SCACED has successfully coordinated with 3 partners to install the first three of the six community gardens on James Island (Charleston Coun”