; (C) a State's effective management of the activities funded under this subtitle; and (D) the results of activities funded by the State under section 679(b). (3) Comprehensive analysis of poverty conditions The Secretary shall provide guidance (including models) for comprehensive community needs assessments described in section 678(a)(2)(C)(i). The guidance shall include methods for preparing an analysis of all poverty conditions affecting a community and of local and regional assets for alleviating such conditions. 691. Discretionary community programs (a) Grants, contracts, arrangements, loans, and guarantees (1) In general The Secretary shall, from funds appropriated under section 692(b), make grants, loans, or guarantees to States and public agencies and private, nonprofit organizations, or enter into contracts or jointly financed cooperative arrangements with States and public agencies and private, nonprofit organizations (and for-profit organizations, to the extent specified in paragraph (2)(E)) for each of the objectives described in paragraphs (2) through (4). (2) Community economic development (A) Economic development activities The Secretary shall make grants described in paragraph (1) on a competitive basis to private, nonprofit organizations that are community development corporations to provide technical and financial assistance for economic development activities designed to address the economic needs of low-income individuals and families by creating employment and business development opportunities. (B) Consultation The Secretary shall exercise the authority provided under subparagraph (A) after consultation with other relevant Federal officials. (C) Governing boards For a community development corporation to receive funds to carry out this paragraph, the corporation shall be governed by a board that shall— (i) consist of residents of the community and business and civic leaders