2024-08-01T07:12:56-05:00 2023-12-31 570381582 ELLIOTT DAVIS LLCPLLC 500 EAST MOREHEAD STREET SUITE 700 CHARLOTTE NC 28202 990 2023-01-01 010793507 SOUTH CAROLINA COMMUNITY LOAN FUND SOUT 8439737285 1051 GARDNER ROAD SUITE A CHARLESTON SC 29407 NANCY LEON CFO 8439737285 2024-07-29 1 1 JANICE A RATICA P00358837 7043338881 2024-07-29 2023 2024-08-08 14:25:15Z NATHANIEL BARBER 1051 GARDNER ROAD SUITE A CHARLESTON SC 29407 6646393 0 X WWW.SCCOMMUNITYLOANFUND.ORG X 2003 SC SOUTH CAROLINA COMMUNITY LOAN FUND (SCCLF) ADVANCES EQUITABLE ACCESS TO CAPITAL TO BUILD ASSETS AND BENEFIT THE COMMUNITIES AND PEOPLE MOST IN NEED OF ECONOMIC OPPORTUNITY. 17 17 20 17 0 0 1297997 4462596 2207300 2038537 54784 131974 3100 13286 3563181 6646393 248500 168500 0 0 1496048 1521861 0 0 65511 1242908 2702133 2987456 4392494 575725 2253899 41580650 42236648 31039066 29337981 10541584 12898667 X SOUTH CAROLINA COMMUNITY LOAN FUND (SCCLF) IS A U.S. TREASURY CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) WHOSE MISSION IS TO ADVANCE EQUITABLE ACCESS TO CAPITAL BY PROVIDING LOANS, TECHNICAL ASSISTANCE, AND ADVOCACY FOR AFFORDABLE HOUSING, HEALTHY FOOD, COMMUNITY FACILITIES, AND COMMUNITY BUSINESS ENTERPRISES TO CREATE THRIVING, PROSPEROUS, ECONOMICALLY RESILIENT COMMUNITIES FOR ALL SOUTH CAROLINIANS. 0 0 885385 563175 SCCLF PROVIDES LOANS, GENERALLY UP TO $1,000,000, TO FINANCE ACQUISITION, PREDEVELOPMENT, INFRASTRUCTURE, CONSTRUCTION, RENOVATION, LEASEHOLD IMPROVEMENTS, MACHINERY AND EQUIPMENT, WORKING CAPITAL, AND PERMANENT FINANCING BUSINESS COSTS. SCCLF FINANCES THE CAPITAL NEEDS OF COMMUNITY BUSINESSES SERVING AND EMPLOYING LOW TO MODERATE INCOME INDIVIDUALS LOCATED IN UNDERSERVED SOUTH CAROLINA COMMUNITIES. IN 2023, SCCLF MADE 7 LOANS TOTALING $3.3MM TO SMALL BUSINESSES LOCATED THROUGHOUT THE STATE. 1267493 806226 COMMUNITY FACILITY (CF) SCCLF PROVIDES COMMUNITY FACILITY LOANS GENERALLY UP TO $1,000,000 TO FINANCE ACQUISITION, PRE-DEVELOPMENT, INFRASTRUCTURE, CONSTRUCTION, REHABILITATION, AND PERMANENT FINANCING DEVELOPMENT COSTS. SCCLF FINANCES THE CONSTRUCTION AND RENOVATION OF COMMUNITY FACILITIES INCLUDING, BUT NOT LIMITED TO, RECREATION CENTERS, DAY CARE CENTERS, HEALTH CARE CENTERS, SENIOR CENTERS, CHARTER SCHOOLS, HOMELESS SHELTERS, AND TRANSITIONAL HOUSING IN UNDERSERVED SOUTH CAROLINA COMMUNITIES. IN 2023, SCCLF MADE 1 LOANS TOTALING $2.9MM TO COMMUNITY FACILITIES LOCATED THROUGHOUT THE STATE. 362247 230418 IN ADDITION TO LENDING, SCCLF PROVIDES TECHNICAL ASSISTANCE TO BORROWERS AND PROSPECTIVE BORROWERS IN THE FORM OF ONE-ON-ONE TECHNICAL ASSISTANCE AND SMALL BUSINESS DEVELOPMENT WORKSHOPS. IN 2023, SCCLF AWARDED $168,500 OF SEED CAPITAL IN THE FORM OF FORGIVABLE LOANS TO 19 SMALL BUSINESSES AND SCCLF'S LOAN OFFICERS PROVIDED TECHNICAL ASSISTANCE TO 48 INDIVIDUALS AND BUSINESSES SEEKING CAPITAL FOR THEIR PROJECTS. 689721 168500 438717 689721 168500 438717 3204846 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 29 0 1 20 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X NANCY LEON 8439737285 1051 GARDNER ROAD SUITE A CHARLESTON SC 29407 SHAUNA COOPER MEMBER 1.00 X 0 0 0 DREW HARRISON MEMBER 1.00 X 0 0 0 SHAUNTE EVANS MEMBER 1.00 X 0 0 0 WALTER GAYLE MEMBER 1.00 X 0 0 0 CORTNEY NICK THOMAS MEMBER 1.00 X 0 0 0 CHARLES DEW MEMBER 1.00 X 0 0 0 ADOLPHUS JOHNSON MEMBER 1.00 X 0 0 0 COREY MCCLARY MEMBER 1.00 X 0 0 0 GINNY STROUD MEMBER 1.00 X 0 0 0 MELANIE HUGGINS MEMBER 1.00 X 0 0 0 NILSY RAPALO MEMBER 1.00 X 0 0 0 SELENA PICKENS MEMBER 1.00 X 0 0 0 NATHANIEL BARBER CHIEF EXECUTIVE OFFICER 40.00 X 179690 0 5595 DEBORAH MCKETTY PRESIDENT 40.00 X 189860 0 5913 NANCY LEON CHIEF FINANCIAL OFFICER 40.00 X 146593 0 4841 WILHELMENIA DUNN LEE CHIEF OPERATING OFFICER 40.00 X 105367 0 3113 BRIAN COLCLOUGH CHIEF LENDING OFFICER 40.00 X 55500 0 275 SANJIV DORESWAMY CHIEF LENDING OFFICER 40.00 X 53552 0 1514 TORREY RUSH CHAIR 1.00 X 0 0 0 MARTIN LIVINGSTON VICE CHAIR 1.00 X 0 0 0 THOMAS ANDERSON PAST CHAIR 1.00 X 0 0 0 NATHAN HARRISON TREASURER 1.00 X 0 0 0 DOROTHEA BERNIQUE SECRETARY 1.00 X 0 0 0 730562 0 21251 4 0 1 0 0 3656120 806476 4462596 LOAN INTEREST AND FEES 624229 2038537 2038537 2038537 131974 131974 OTHER INCOME 900099 13286 13286 13286 6646393 2051823 0 131974 X 168500 168500 1304566 688873 564965 50728 28883 15252 12508 1123 89824 47431 38900 3493 98588 52059 42695 3834 770149 462437 303356 4356 9399 9399 93506 51331 42175 39634 21459 18175 39683 36193 1513 1977 23205 10858 12347 760403 760403 50289 25194 25095 22273 22273 AFFORDABLE HOUSING SUBS 781563 781563 DUES AND SUBSCRIPTIONS 19573 2510 17063 PROPERTY TAXES 15899 13386 2513 PROFESSIONAL DEVELOPMEN 11714 1479 10235 64843 43645 21198 4392494 3204846 1122137 65511 10596725 13459419 627495 378981 165 245312 29453526 27280848 102605 122243 1032934 286939 796284 745995 3850 3850 41580650 42236648 101438 69442 30937628 29268539 31039066 29337981 X 10317433 9306497 224151 3592170 10541584 12898667 41580650 42236648 2253899 103184 0 X X 0 1 X 1 1 1 X 2459986 2571236 2464553 1297997 4462596 13256368 2459986 2571236 2464553 1297997 4462596 13256368 3056700 10199668 48163 81995 349 54784 131974 317265 3100 13286 16386 13590019 10371257 0.75050 0.70930 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 712138 89017 623121 80497 17055 63442 178720 123172 55548 61579 57695 3884 745995 X 6749577 103184 103184 6646393 0 6646393 4392494 0 4392494 0 4392494 PART X, LINE 2: SCCLF IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS A CHARITABLE ORGANIZATION WHEREBY ONLY UNRELATED BUSINESS INCOME, IF ANY, AS DEFINED BY THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. SCCLF IS CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. SCCLF'S POLICY IS TO REPORT ACCRUED INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS, WHEN APPLICABLE, AS INTEREST EXPENSE AND TO REPORT PENALTIES AS OTHER EXPENSE. MANAGEMENT HAS EVALUATED THE TAX POSITIONS OF SCCLF AND DOES NOT BELIEVE THAT ANY UNCERTAIN TAX POSITIONS OR UNRECOGNIZED TAX BENEFITS EXIST FOR THE YEARS ENDED DECEMBER 31, 2023 OR 2022. 1 FORGIVABLE LOANS 7 168500 PART I, LINE 2: AWARDEES PROVIDE DOCUMENTED BUSINESS EXPENSES (MATERIALS, ADVERTISING, ETC.) AS WELL AS A BUSINESS PLAN. X 0 0 X X 0 0 0 0 0 0 0 0 0 DEBORAH MCKETTY PRESIDENT 160000 0 14260 0 15600 0 5268 0 645 0 195773 0 0 0 NATHANIEL BARBER CHIEF EXECUTIVE OFFICER 165000 0 14690 0 0 0 4950 0 645 0 185285 0 0 0 NANCY LEON CHIEF FINANCIAL OFFICER 140693 0 5900 0 0 0 4221 0 620 0 151434 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A DRAFT IS PROVIDED TO THE BOARD OF DIRECTORS TO REVIEW AND APPROVE BEFORE FILING THE 990. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION PROVIDES A COPY OF THE POLICY TO THE BOARD MEMBERS AND REQUIRES THEM TO REVIEW ON AN ANNUAL BASIS. IN THE EVENT OF A POTENTIAL CONFLICT DURING THE YEAR, THE INTERESTED PERSON SHALL RECUSE HIMSELF/HERSELF FROM DISCUSSIONS AND VOTE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 SALARY SURVEYS ARE USED AS THE BASIS FOR DETERMINING COMPENSATION FOR ALL STAFF MEMBERS. THE SURVEY PROVIDES A MINIMUM, MIDPOINT, AND MAXIMUM FOR EACH POSITION WITHIN SCCLF. SALARY TARGETS ARE SET DURING THE BUDGETING PROCESS AND ARE BASED ON ACHIEVING A MINIMUM PERCENTAGE OF THE MIDPOINT RANGE FOR ALL STAFF POSITIONS. TARGETS FOR EXECUTIVE STAFF ARE REVIEWED BY THE EXECUTIVE COMMITTEE, FINANCE COMMITTEE, AND FULL BOARD DURING THE BUDGET APPROVAL PROCESS. THE COMMITTEE'S DECISIONS ARE DOCUMENTED IN MEETING MINUTES, AND SALARY LETTERS ARE THEN PREPARED FOR EACH STAFF MEMBER AND SIGNED BY THE CEO. THE CEO'S SALARY LETTER IS SIGNED BY THE BOARD CHAIR. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND FORM 990 ARE PROVIDED WHEN REQUESTED BY THIRD PARTIES. FORM 990, PART IX, LINE 11G CONSULTING FEES: PROGRAM SERVICE EXPENSES 462,437. MANAGEMENT AND GENERAL EXPENSES 303,356. FUNDRAISING EXPENSES 4,356. TOTAL EXPENSES 770,149. FORM 990, PART XI, LINE 2C THE PROCESS HAS NOT CHANGED. 1051A GARDNER ROAD LLC 1051A GARDNER ROAD CHARLESTON SC 29407 REAL ESTATE SC 0 0 SOUTH CAROLINA COMMUNITY LOAN FUND SCCLF SUB-CDE I 1051-A GARDNER ROAD CHARLESTON SC 29407 833479337 PROVIDING INVESTMENT CAPITAL FOR LOW-INCOME COMMUNITIES SC EXCLUDED FROM TAX 4 500 0 1 0.00010 SCCLF SUB-CDE II LLC 1051-A GARDNER ROAD CHARLESTON SC 29407 833499059 PROVIDING INVESTMENT CAPITAL FOR LOW-INCOME COMMUNITIES SC EXCLUDED FROM TAX 42 1242 0 1 0.00010 SCCLF SUB-CDE III LLC 1051-A GARDNER ROAD CHARLESTON SC 29407 833522053 PROVIDING INVESTMENT CAPITAL FOR LOW-INCOME COMMUNITIES SC EXCLUDED FROM TAX 3 311 0 1 0.00010 SCCLF SUB-CDE IV LLC 1051-A GARDNER ROAD CHARLESTON SC 29407 833522054 PROVIDING INVESTMENT CAPITAL FOR LOW-INCOME COMMUNITIES SC EXCLUDED FROM TAX 12 450 0 1 0.00010 SCCLF SUB-CDE V LLC 1051-A GARDNER ROAD CHARLESTON SC 29407 833522055 PROVIDING INVESTMENT CAPITAL FOR LOW-INCOME COMMUNITIES SC EXCLUDED FROM TAX 5 704 0 1 0.00010 SCCLF SUB-CDE VI LLC 1051-A GARDNER ROAD CHARLESTON SC 29407 833522056 PROVIDING INVESTMENT CAPITAL FOR LOW-INCOME COMMUNITIES SC EXCLUDED FROM TAX 4 354 0 1 0.00010 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0