South Carolina Community Loan Fund
Public records show a registered, tax-exempt organization in good standing.
What it says it does
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, HEALTH FOOD, COMMUNITY FACILITIES, AND COMMUNITY BUSINESS ENTERPRISES TO CREATE THRIVING, PROSPEROUS, ECONOMICALLY RESILIENT COMMUNITIES FOR ALL SOUTH CAROLINAINS.
- Income
- $6.9 million
- Spending
- $4.2 million
- Spent on programs
- 69%
- Reserves
- 29.8 months of spending
- Largest source of income
- fees for its services, 56%
- Employees
- 19
- Highest pay
- $165,000, ceo
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 85 out of 100. Higher than 72% of charities in its peer group (housing, $1m to $10m).
Reserves
35 of 35Spendable reserves would cover 29.8 months of spending.
Debt
5 of 20It owes 69% of what it owns.
Living within its means
15 of 15Income exceeded spending by 39% of income.
Income trend
15 of 15Income rose 4% on the year before.
Spending floor
15 of 1569% of spending went to programs and raising each dollar of donations cost 2 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 70% of charities in its peer group (housing, $1m to $10m).
Independent board
25 of 2518 of 18 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $2.9 million spent. Loan Program and Other Related Fees: Loan application fees are earned and recorded as revenue at a point in time when the loan application is completed by the applicant with all required documentation and accepted by the Organization. Loan origination fees are earned on loan closings and recorded as revenue at a point in time when the performance obligation is met, i.e., when the loan closes and funds are loaned to the customer.The Organization requires a signed promissory note with all borrowers which constitutes a contract between the Organization and the customer, states the loan terms, and lays out the obligations of the Organization and the borrower. Each individual loan receivable was analyzed separately and has its own specific terms. Under ASC 606, late fee income related to these loan receivables are recognized as revenue at a point in time when the loan payments are due and the customer has not paid these payments per the terms in the signed contract. As the due date passes for the loan payments and the amounts go unpaid, the Organization will recognize late fees for the loan funds at the respective terms per the individual loandocument. The Organization had a home buyer assistance (HBA) program for several years as discussed earlier. Under this program, the Organization was eligible for a portion of sales proceeds for a property that they have previously provided HBA funds on to assist the home buyer. At the time of the original advance of HBA funds, a signed contract was entered into with all customers that received funds from the Organization which stated the terms of repayment of a portion of the net sales proceeds if the property was sold before 20 years from the date of the funds, which constitutes a contract between the Organization and the customer. Under these contracts, the Organization is considered to meet its performance obligation at a point in time when the respective property is determined to be sold in less than 20 years from the advance of funds by the Organization and the sale of the property to a third party has been closed. Under ASC 606, the amount of the revenue is determined at the time of the sale per the closing statement and recognizesrevenue at that point in time.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since February 2004.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.