Community Development Banking

The New Markets Tax Credit Program (NMTC) is a federal community development program designed to stimulate the flow of investment capital in underserved communities.  Tax payers that make qualified equity investments in designated Community Development Entities (CDEs) receive a 39 percent NMTC tax credit that is claimed over a seven-year credit allowance period.  Substantially all of the qualified equity investment must in turn be used by the CDE to provide investments in low-income communities.  www.cdfifund.gov

Stonehenge Community Development, LLC (“SCD”) is a CDE with a National service area and the recipient of four NMTC allocations totaling $367.5 million.  SCD invests its NMTC allocations predominately in businesses and community service non-profits throughout the United States that are located in highly distressed census tracts and have significant minority impact.  To execute its strategy, SCD works closely with community leaders and organizations to deploy capital in projects that maximize community revitalization and economic impact.  SCD has a key strategic community partnership with the National Urban League which has over 100 affiliates nationwide.