South Carolina Community Loan Fund

Analysis

South Carolina Community Loan Fund is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in February 2004, 22 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, South Carolina Community Loan Fund reported income of $6.6m and spending of $4.4m, leaving 34% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.9m to $6.6m (+71%), an average of +14% a year. The sharpest change came in the year to December 2023, when income rose by 87%. Over the whole period it spent 73% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, South Carolina Community Loan Fund sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within SC. Charities of a similar size with the same main cause include Esperanza Community Housing Corporation ($6.6m), Rodeo Senior Apartments Inc ($6.7m) and Habitat for Humanity Pennyrile Region Inc ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 31% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $42.2m against liabilities of $29.3m, net assets of $12.9m. It reported 20 employees.