DI resident launches unique charitable fund to pay it forward

Longtime Daniel Island resident Pete Sniderman has co-founded a new Lowcountry fund with an unusual approach to charitable giving: invest the money, get it back, and use it again. 

The Lowcountry Impact Fund, founded by Sniderman and Charleston resident Alex Opoulos and sponsored by Abundance Capital, launched with a $250,000 investment in The Harbor Entrepreneur Center. 

The fund was created to help businesses, nonprofits, and community projects that need capital but might not be a fit for a traditional charitable grant or conventional financing. 

“There is tremendous generosity in the Lowcountry, and we believe there is an opportunity to make some of those charitable dollars work in a different way,” Sniderman said. “LIF gives us another tool to help strong organizations move important work forward. When those investments are repaid, we can put the resources back to work in our community and extend their impact.” 

That last part is what separates the fund from a typical grant. Lowcountry Impact Fund investments are structured for potential repayment. If the money comes back, it can then go toward another business, nonprofit, or community project. 

The Harbor Entrepreneur Center is the first to receive an investment. Founded in 2012, the nonprofit works with entrepreneurs and growing companies by providing mentorship, programming, connections, and other resources. More than 130 companies are based at its Mount Pleasant facility. 

The $250,000 will help The Harbor provide affordable office space, expand programming, and serve more founders. 

“This investment comes at a critical time for The Harbor as we experience rapid growth and increasing demand for our programs,” Executive Director Grady Johnson said. “The Lowcountry Impact Fund understands that investing in entrepreneurship is an investment in the long-term strength of our region.” 

“The Harbor felt like a natural place to begin because successful entrepreneurs build businesses, create jobs, and strengthen communities,” Opoulos said. “Supporting entrepreneurs has a ripple effect that reaches far beyond any one company.” 

Sniderman and Opoulos don’t plan to limit future investments to entrepreneurs. The fund will consider businesses, nonprofits, and community projects throughout the Lowcountry, where its capital can fill a funding gap and provide a measurable community benefit. 

The approach is part of what the fund calls “Growing the Good,” with the goal of allowing the same charitable dollars to benefit the community more than once. 

The first $250,000 investment was formally presented Sept. 23 at Harbor House Party Vol. II, a fundraiser held at the Music Farm in Charleston. 

The Lowcountry Impact Fund is sponsored by Abundance Capital, a nonprofit donor-advised fund sponsor based in Greenville, South Carolina, that makes impact-focused investments and grants. More information is available at abundancecap.org.