South Texas Emerging Markets Development Fund, Inc. (STEMDF) is a 501(c)(3) non-profit founded in 2009 to provide loans, investment products, and development services to promote economic and community growth throughout the Cameron, Hidalgo, Starr, and Willacy Counties of Texas. Since its inception, STEMDF has expanded its scope to include providing decent and affordable housing to low-income and moderate- income families in traditionally underserved areas.

STEMDF has succeeded in providing over $270,000 in loans to small business over the course of its first four years. In turn, the non-profit has received a grant from the Community Development Financial Institutions (CDFI) Fund to establish its office. STEMDF has been awarded three $10,000 grants to bring Financial Literacy classes to traditionally underserved areas.

The mission of South Texas Emerging Markets Development Fund, Inc. is to increase economic development opportunities and increase affordable housing production, including, but not limited to: (i)The creation of job opportunities and the enhancement of capital investment in the Rio Grande Valley of Texas by facilitating partnerships and improving communication between non-profit organizations, government, and the private sector.

(ii)Work with all sectors of the community to make economic opportunities available to all residents of the Rio Grande Valley of Texas, especially those who need it most, including, but not limited to, historically under-served populations and small business owners. (iii)Serve as a resource organization and help design programs that meet economic development needs by providing technical support, funding, and advocacy to promote economic development opportunities.

(iv) Work with all sectors of the community to make decent, safe, and affordable housing available to all residents throughout the State of Texas, especially those who need it most – elderly people, people with disabilities, first-time home buyers, and colonia residents. (v)Serve as a resource organization and help design programs that meet housing needs by providing technical support, funding, and advocacy to promote the work of community development corporations in affordable housing.

The purpose or purposes for which t South Texas Emerging Markets Development Fund, Inc. is organized are to receive and maintain a fund or funds of real or personal property, or both, and, subject to the restrictions and limitations hereinafter set forth, to use and apply the whole or any part of the income therefrom and the principal thereof exclusively for charitable, religious, scientific, literary, or educational purposes either directly or by contributions to organizations that qualify as exempt organizations under Section 501(c)(3) of the Internal Revenue Code and its Regulations as they now exist or as they may hereafter be amended. Specifically, and not by way of limitation, the primary purpose the Corporation exists is (a) to provide loan and investment products, development services and other related activities to promote economic and community development in Texas communities located in in communities located in Texas other than Jeff Davis, Jefferson, Garza, and Lipscomb Counties, with a focus on low-income and underserved areas; and (b) to assist in providing decent, affordable single-family or multi-family housing to low-income and/or moderate- income individuals, including loans and investment products, development services, and other related activities in order to promote economic and community development in communities located in Texas other than Jeff Davis, Jefferson, Garza, and Lipscomb Counties, with a focus on low-income and underserved areas, including but not limited to the acquisition, ownership, development, construction, operation, and management of low- and/or moderate income housing.

Sunny K. Philip
Executive Director
skphilip@stemdf.org

Sara Walker
Administrative Assistant
swalker@stemdf.org

Alma Martinez
Administrative Assistant
amartinez@stemdf.org