Ferguson promoted to Innovate Fund Program Manager; Lee hired as NMTC Compliance and Asset Manager
GREENVILLE, S.C., July 17, 2018 /PRNewswire/ -- Tax Advantage Group (TAG) announces two new leadership appointments. Whitney Ferguson has been promoted to the position of New Markets Tax Credit (NMTC) Program Manager for The Innovate Fund, which TAG manages, and Michael Lee has been hired to fill Ferguson's previous role as NMTC Compliance and Asset Manager.
Headquartered in Greenville, S.C., TAG is a specialized consulting firm providing business incentive and tax credit financing advisory services to clients across the country. The Innovate Fund is a Community Development Entity (CDE) managed by TAG and Greenville Local Development Corporation. As Program Manager, Ferguson is focused on growing the organization's NMTC fund that helps revitalize South Carolina's low-income communities by providing capital to organizations that create significant community impact. Since it was established in 2014, The Innovate Fund has deployed $160 million of NMTC allocation that supports 3,370 quality jobs throughout South Carolina and provides community goods and services to over 66,000 low-income people.
She is also responsible for overseeing and implementing The Innovate Fund's strategic plan, including community engagement, pipeline development, and marketing throughout the organization's South Carolina service area.
As Asset and Compliance Manager for TAG for the past three-and-a-half years, Ferguson has worked closely with The Innovate Fund since its inception. She has a master's degree in Real Estate Development and a bachelor's degree in Financial Management from Clemson University.
As TAG's new NMTC Compliance and Asset Manager, Michael Lee is responsible for completing a wide range of general and real estate accounting, compliance, and asset management duties related to TAG's $450 million NMTC portfolio. He comes to TAG with deep experience in management, real estate and investment leadership, most recently serving as project manager for a real estate investment firm. He holds dual master's degrees in law and real estate, a bachelor's degree in finance and accounting, and in addition to spending four-and-a-half years as a military intelligence officer in the United States Marine Corps, he previously worked as a Bank Examiner with the Farm Credit Administration.
Tax Advantage Group Founder and President Tammy C. Propst said, "We are extremely pleased to fill these two posts with such highly qualified professionals. Their proven leadership helps ensure that TAG and The Innovate Fund continue to fulfill their respective missions to the fullest extent possible."
Founded in 1979, Greenville Local Development Corporation (GLDC), a 501(c)(3) non-profit, was established by a group of committed community and business leaders in Greenville, SC to address obstacles faced by businesses and community-based organizations in obtaining conventional financing. Since inception, GLDC has been working to provide financial assistance, real estate development coordination, and strategic guidance for economic development projects and business expansions.
About Tax Advantage Group
Headquartered in Greenville, S.C., Tax Advantage Group (TAG) is one of the country's most successful consulting firms specializing in New Markets Tax Credits, helping nonprofit and for-profit organizations access capital and transform communities. Since 2004, TAG has played an instrumental role in securing funding for over $1.4 billion for community projects across the United States. In addition, TAG has provided compliance and asset management services on $450 million of NMTC assets. For more information, visit www.taxadvantagegroup.com.
About The Innovate Fund
The Innovate Fund is a Community Development Entity (CDE) under the provisions of the Community Development Financial Institutions Fund. Since inception, The Innovate Fund and its affiliates have been awarded $217 million of New Markets Tax Credit allocation. The Innovate Fund's mission is to serve and provide investment capital for operating business and real estate development projects in low-income communities across South Carolina. Its affiliates are the Greenville Local Development Corporation and taxadvantagegroup. For more information, visit www.theinnovatefund.com.