COLUMBIA, S.C., (May 18, 2017) – Doris Shellhorse, program manager of The Innovate Fund, has been elected to the board of directors of the South Carolina Community Capital Alliance. The Alliance is a non-profit network of Community Development Financial Institutions (CDFIs), Community Development Entities (CDEs), and other community development financiers whose primary mission is to increase capital sources that support community and economic development projects throughout South Carolina. Alliance members provide qualified projects with a wide range of financial products and services to help ensure their success.
The board of directors is made up of 12 individuals representing Alliance member companies from various regions throughout the state. Board members are elected to serve 3-year terms.
SC Community Capital Alliance Board Chairperson Deborah McKetty said, “The Alliance is grateful to have Doris’ leadership regarding the community development financing needs of South Carolina. Her knowledge of New Markets Tax Credits will also help ensure the Alliance stays current on the accessibility of this tremendous funding source.”
The Innovate Fund, which Shellhorse manages, is a Community Development Entity with the express purpose of helping to revitalize low-income communities in South Carolina by providing capital to organizations that create significant community impact.
Prior to joining The Innovate Fund, Shellhorse spent 13 years in a number of management roles at Mitsubishi Polyester Film, Inc., which has its North American headquarters and a manufacturing facility in Greer, S.C. A graduate of Clemson University, Shellhorse is also a graduate of Leadership Greer and serves on the Women's Leadership Council of the United Way of Greenville County.
About The Innovate Fund
Established in 2004, The Innovate Fund and affiliates were created to provide federal New Markets Tax Credit (NMTC) financing for Disadvantaged Businesses and Communities located in South Carolina's Low-Income Communities. Today, The Innovate Fund has deployed nearly $160 million of NMTC investments to transactions that support 3,370 jobs, provide community goods and services to over 66,000 Low-Income Community residents and Low-Income Persons, and created or rehabilitated over 1.6 million square feet of real estate in South Carolina. The community demographics of The Innovate Fund's current investment portfolio consist of poverty rates as high as 66%, median family income as low as 14.24% of the statewide median family income, and unemployment as high as 23.7%. For complete information, visit our website at www.theinnovatefund.com.