State SCF Partner

To launch the SCF in any particular state, the first requirement is for SCC to align with one or more non-profit organizations (501(c)(3) or 501(c)(4)) who will assemble and manage the state-wide consortium of other non-profit organizations. What form that consortium will take is up to those parties who organize it for their particular state. That consortium is identified above as the State SCF Partner (SP).

That SP could start off as a single pre-exiting non-profit economic development entity, provided they have a means to have other non-profits throughout the state become a “member” of the consortium. Alternatively, two or more existing entities may form a new non-profit that they will manage and which is structured to allow other non-profits throughout the state to join the group. Lastly, a new non-profit entity can be formed by one or more individuals who have no existing organization, but who wish to take on the responsibility of forming the SP for the state and recruiting other non-profits to join the effort. We are open to any of those options and perhaps ones we have not contemplated.  Interested parties should go here to learn more and signup.

It will be up to each SP to determine what other types of tax-exempt non-profit organizations, under the 29 categories included under IRS code 501(c), that can be part of that particular consortium. Examples might be labor unions under 501(c)(5) or Chambers of Commerce under 501(c)(6). Each SP will also determine if they want to include in the consortium other organizations like local governments, school districts and other kinds of non-profit organizations.

The key objective is to assemble a sufficiently inclusive group so as to be able to identify all the major problems to be addressed by this SP, and to assemble the expertise to create task groups and other sub-groups who can formulate plans to address those problems and oversee the implementation of them.

This overall ecosystem should generate substantial financial resources that will be used by the SP to address the various problems identified by the consortium. To carry those plans out will require the legal infrastructure to provide the mechanism for implementation. That begins with the State Holding Company.

If you are interested in helping to organize your state’s effort or participate in the consortium, please sign up here.