Sustainable non-profits, local branches of government, microenterprises and community development organizations often qualify for grant funding. SCACED members receive funding alerts and assistance with the application process. Please take a moment to learn more about financial resources that may be available to your organization.
Individual Development Account (IDA)
The South Carolina Association for Community Economic Development (SCACED) statewide Individual Development Account (IDA) program was held 2001 – 2015 made possible through funding from the U.S. Department of Health and Human Services and S.C. Department of Social Services. 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.
Current IDA Funding in South Carolina
- Greenville County (CommunityWorks) - $150,000
- County of Spartanburg (CommunityWorks) - $75,000
- City of Columbia (City Community Development Dept.) - $150,000
- City of Florence (City Community Development Dept.) - $100,000
- Charleston (East Cooper Community Outreach) - $100,000
Current IDA Impact
- 100 homes purchased
- 92 students went back to school
- 183 business started
Community Impact Fund (CIF)
The Community Impact Fund (CIF) is made possible by generous funding from the Mary Reynolds Babcock Foundation. Its purpose is to make grants available to member organizations for capacity building initiatives, development of affordable housing and/or other economic development projects. Eligible applicants must have…
- Active SCACED membership
- 501(c)3 status
- An active board management process
- Financial statements
- A history of community economic development projects
This is a competitive grant process with a total of $50,000 in available funding and a maximum grant amount of $10,000. SCACED offers technical assistance from October 13th through October 24th. We will be available during this timeframe to field questions CIF funding and what projects/programs qualify.
Community Economic Development (CED) Fund
The CED grant program was created by the SC General Assembly in 2000 (through the SC Community Economic Development Act) to support certified community development corporation (CDC) and community development financial institution (CDFI) sponsored projects in the state of South Carolina. Qualifying projects create small businesses, commercial opportunities and jobs in underserved/rural communities.
Organizations applying for CED grant money must be certified by the SC Department of Commerce. SCACED coordinates the certification process for community based organizations wishing to earn their CDC or CDFI designation.
2016 Community Economic Impact Fund Impact
|CED Awardee||Project||Award Amount||Jobs Creating/Sustaining||Businesses Creating/Expanding||Individuals Receiving Training||Other Leveraged Resources|
|Anderson Interfaith Ministries||SNAP 2 Work||$22,500||36||96||$384,165|
|CommunityWorks Carolina||CommunityWorks MicroBusiness Program||$10,000||30||160||$729,841|
|Increasing HOPE||Three-Part Quality of Life Project||$5,000||20||$85,000|
|Metanoia CDC||Metanoia's Youth Entrepreneurship Program||$10,000||15||3||15||$121,899|
|SC Community Loan Fund||Investing in Community||$20,000||49||3||$955,000|
|The Butterfly Foundation||Culinary Job Training Program||$22,500||20||$223,648|
Total Leverage of 28 to 1
Total Economic Impact of $2,499,553
The Secretary of the SC Department of Commerce must grant final approval on any application recommended by SCACED in order for CED funding to be issued.
CD Tax Credit Program
The CD Tax Credit Program was made possible by the SC Community Economic Development Act of 2000. SC businesses, corporations, insurance companies, financial institutions and individual residents are eligible for a 33% credit against state tax liabilities for every dollar invested in or donated to certified CDCs or CDFIs.
The donations made through CD Tax Credits benefit projects and programs that are focused on improving quality of life in low income communities.
The Microenterprise Program is made possible through our partnership with the SC Department of Commerce. The program launched in 2014 to ensure that South Carolina’s smallest businesses have the capacity to create jobs, build skills and enhance the self-sufficiency of low-income households.