498 Howard Street

Spartanburg, SC 29303

(864) 582-4146

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The Butterfly Foundation is a certified CDC.


Community development corporations (CDCs) are non-profit corporations which are chartered pursuant to SC Code Ch 31, Title 33, is tax exempt under Internal Revenue Code § 501 (c) (3), and has a primary mission of developing and improving low-income communities and neighborhoods through economic and related developments.
The state allows a 33% credit against state tax liabilities to South Carolina businesses, corporations, insurance companies, financial institutions, and individuals for each dollar invested or donated to certified Community Development Corporations (CDCs).

​We Accept:


Who can use the credit?


Individuals and Corporations: SC Code 12-6-3530 provides a tax credit against SC income tax, bank tax or insurance premium tax for a business investing in a certified community development corporation (CDC).
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What Qualifies as an investment to a CDC?


Individuals and Corporations: SC Code 12-6-3530 provides a tax credit against SC income tax, bank tax or insurance premium tax for a business investing in a certified community development corporation (CDC).
  • Cash Donations
  • Property i.e. buildings, land, stock (33% of appraised value)
  • Investment in a certified CDC


Contact Us:


498 Howard Street, Spartanburg, SC 29303
Phone: (864) 582-4146 Fax: (864) 583-1619