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Local groups, businesses asked to apply for CCF cash

Colleton businesses and organizations are invited to ask for their share of up to $3 million in a new investment project funds.

The project is being orchestrated by the Coastal Community Foundation (CCF), which oversees the economic development of nine area counties, including Colleton County.

The project is called Place-Based Impact Investing. It is meant to boost the economies and social development of the entire region that the Coastal Community Foundation serves. This area includes Georgetown, Hampton, Horry, Jasper, Beaufort, Berkeley, Charleston, Dorchester and Colleton counties. “This is not a grant. This is an investment portfolio,” said Karen Black, director of communications for the CCF. Black adds that this investment portfolio is similar to a 401-k, but on a broader and regional perspective.

The funds will be distributed to a series of projects. So far, no person, business or agency from Colleton County has applied. The CCF held a regionwide conference call on Monday evening explaining the project and the application process to potential applicants.

“We hope to get applicants from Colleton,” she said. According to Black, the application dictates that a project has to make a social and financial investment to the area. The requested amount of funds can range from $50,000 to $600,000 per project.

“It’s changing the paradigm of thinking, that social impacts are not necessarily an act of charity. And we live in a time where individuals are cause-minded,” she said.

Once applicants are received, a committee will determine which applicants are chosen.

“We are looking for all types of applicants, from all aspects,” said Black.

According to information released from the CCF, preference will be given to applicants who meet the following three criteria: access to economic opportunity; education; and affordable places and inclusive places.

“We know a focused, intentional effort must be placed on impact investing if we’re ever going to create sustainable solutions to coastal South Carolina’s most pervasive problems,” said Darrin Goss, Sr., President and CEO of the Coastal Community Foundation. “The CCF Board of Directors voted in February 2017 to dedicate capital for an impact investment program. Research into the trends and best practices of place-based impact investing has led us to this pivotal moment. We are proud to say we’re making a substantial initial investment of $3 million,” she said, in a written statement.

How to Learn More and Apply

Organizations with projects in process or launching within the next six months and seeking capital are invited to attend and find out more about the initiative and timeline. The session is free and open to the public, but space is limited. Please RSVP by emailing rsvp@coastalcommunityfoundation.org. If you are unable to attend but would like to learn more, please contact us at (843) 723-3635.

Heather Walters (1469 Posts)