SCRA


SCRA on FacebookSCRA's Twitter PageSCRA VideosSCRA BlogSCRA on LinkedIn

SC LAUNCH

MORE

How to Contribute

Contributions to the Industry Partnership Fund (IPF) allow us to further South Carolina's high-tech economy. Contributors can receive a 100% state tax credit for their participation.


About the Industry Partnership Fund

In order to sustain South Carolina's high-tech economy development beyond SCRA's initial investment of $12 million, the Industry Partnership Fund was established in 2006 under the Industry Partners Act. Contributions are used to support entrepreneurs, assist start-up companies and commercialize research at Clemson University, the Medical University of South Carolina and the University of South Carolina.

The funds are also used to provide incubation, business services and other activities to companies in order to execute the mandates in the Innovation Centers Act and the Industry Partners Act. Contributions are certified by SCRA to the State Department of Revenue and are eligible for a 100% tax credit against South Carolina income taxes, insurance premium taxes and certain license fees.


Making a Contribution

The generosity of our Circle of Innovation Members helps SCRA reach the annual $6 million maximum contribution amount eligible for credit against state income taxes, insurance premium taxes and/or certain license fees. Contributions to the fund in excess of $6 million can be accepted, but SCRA is unable to certify contributions in excess of $6 million as qualified for state tax credit.

Because the Internal Revenue Service has recognized SCRA as an organization which is exempt under Internal Revenue Code Section 501(c)3, contributions to the IPF fund in excess of $6 million may be considered charitable contributions for federal tax purposes.

The 2016 Industry Partnership Fund has reached the $6M cap. Commitment requests are no longer being accepted through the online form. Please send inquiries or requests to be placed on the waiting list to ipf@scra.org.

Additional contribution process details

Mechanics of making a contribution:

Copyright SCRA 2016 Careers | Contact Us