Deloitte Gives Million-Dollar Tax Credit Incentive to The Enterprise Center Community Development Corporation

Ten Year Program to Fund Employment, Education, and Engagement Initiatives in Walnut Hill Neighborhood in West Philadelphia

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Deloitte LLP

May 20, 2010, 02:00 ET

PHILADELPHIA, May 20 /PRNewswire/ -- Deloitte LLP announced today that it will donate $100,000 per year for the next 10 years to The Enterprise Center Community Development Corporation (CDC) as part of the city of Philadelphia's Business Privilege Tax Credit program, which in effect provides for a direct tax offset for contributions to a community development corporation.

"We are delighted that Deloitte has selected The Enterprise Center Community Development Corporation for the city of Philadelphia 10-year tax credit incentive," said Della Clark, president, The Enterprise Center CDC. "In collaboration with Deloitte and with their expertise and networks in Philadelphia, The Enterprise Center Community Development Corporation will be able to connect, mobilize and build capacity to create livable economic centers in the neighborhoods of West Philadelphia. The relationship will create a stronger CDC that will support and nurture more stable neighborhoods in the communities that it serves."

Funds will be used to support community development initiatives focused on employment, education and engagement in the Walnut Hill neighborhood in West Philadelphia.

"Through entrepreneurship and a strong community bond, The Enterprise Center Community Development Corporation is helping to stimulate economic growth and development while revitalizing the surrounding neighborhoods. It is creating positive outcomes for families, schools and businesses in the communities that it serves," said Tara L. Weiner, managing partner, Greater Philadelphia Region, Deloitte LLP. "Deloitte is committed to sharing its resources and investing time and skilled volunteers to help The Enterprise Center Community Development Corporation as part of our ongoing community involvement program."

The Enterprise Center Community Development Corporation plans to continue and expand the following initiatives:

Education Collaborative — Funds from the tax credit incentive will enable service learning projects and support for parent councils at 15 West Philadelphia schools over the next three years. The vision is to positively affect student performance by increasing parent and community involvement through volunteering and advocating for educational improvements.

Walnut Hill Community Farm — Funds from the tax credit incentive will help to provide the tools and resources needed to turn an 11,580 square-foot parcel at 4610 Market Street into a resident-run, urban farm with a farm stand and pocket park. The vision is to create 20 raised beds for individual community gardens and communal rows where residents can collectively grow produce that can be sold at local markets.

Center for Culinary Enterprises — Funds from the tax credit incentive will help to provide program support to develop the Center for Culinary Enterprises, Philadelphia's first food business incubator. The vision is to create an engine for developing food businesses and jobs, with three shared-use commercial kitchens, a training restaurant for community youth, two retail spaces for local businesses and a multi-media learning center.

Dating back to 2004, Deloitte's relationship with The Enterprise Center includes: participation on the Board of Directors by Jonathan Horn, principal, Deloitte Consulting LLP; sponsorship of The Enterprise Center's annual Passing the Torch Gala; and the completion of several pro bono consulting projects focused on technology, business planning and business score card.

For the past three years, Deloitte has hosted a small business clinic and provided skilled volunteers to review the business plans of The Enterprise Center's mid-staged companies on IMPACT Day, a one-day celebration of Deloitte's commitment to community involvement. This year, in celebration of their long-term CDC relationship, Deloitte professionals will also work on the Walnut Hill Community Farm as part of IMPACT Day on June 11. In the Greater Philadelphia Region, more than 1,000 Deloitte employees will set aside their work for the day to contribute their time and business skills to local non-profits.

About Deloitte

As used in this document, "Deloitte" means Deloitte LLP and Deloitte Services LP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

About The Enterprise Center Community Development Corporation

The Enterprise Center Community Development Corporation (TEC-CDC) is a neighborhood-based, nonprofit organization in West Philadelphia. Founded in 2001 by The Enterprise Center, a respected minority business accelerator, TEC-CDC extends The Enterprise Center's focus on minority entrepreneurship and wealth creation through strategic investments, programs, and initiatives in the Walnut Hill neighborhood of West Philadelphia. TEC-CDC is part of The Enterprise Center network of organizations.

SOURCE Deloitte LLP