SCF was created as a way for its founders to offer another economic resource and tool to address the needs of low-income and underserved communities across the US and internationally. Ms. Deborah La Franchi and Mr. Belden Hull Daniels, SCF’s co-founders, have a combined 60+ years of economic and community development experience, as well as operate their own individual companies, Strategic Development Solutions and Economic Innovation International, respectively.
When SCF was created in 2007, they co-managed National New Markets Fund (NNMF), the entity that is responsible for SCF being capitalized into a $5.5 million investment fund by 2026. Since its inception, SCF has been capitalized by donations generated from NNMF’s New Markets Tax Credit investment projects. NNMF structured its investments so that donations would be received by SCF in lieu of NNMF receiving project fees on its New Market Tax Credit (NMTC) investments. This unique deal structuring has enabled the initial taxpayer-supported federal NMTC subsidies to continue to benefit high-poverty communities and underserved populations since the funds have been reinvested since 2011 through SCF’s revolving investment fund.