Delaware Community Reinvestment Action Council Inc
- Assets
- $2.4m
- Revenue
- $1.4m
- Investments
- $15.9k
- Employees
- 10
- Location
- Wilmington, DE
- Founding
- 05/1991
- Data as of
- 06/2022
- EIN
- 51-0329119
Organization Overview
Delaware Community Reinvestment Action Council Inc is located in Wilmington, DE. The organization was established in 1991. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Delaware Community Reinvestment Action Council Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delaware Community Reinvestment Action Council Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Delaware Community Reinvestment Action Council Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 10.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
DCRAC'S MISSION IS TO ENSURE EQUITABLE TREATMENT AND EQUAL ACCESS TO CREDIT AND CAPITAL FOR ALL. OUR COMMITMENT TO DIVERSITY, EQUITY, AND INCLUSION IS INHERENT TO OUR MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX CLINIC: AS PART OF THE INTERNAL REVENUE SERVICE RESTRUCTURING AND REFORM ACT OF 1998 (RRA 98), CONGRESS ENACTED IRC 7526 TO AUTHORIZE FUNDING FOR THE LITC GRANT PROGRAM. THE PROGRAM PROTECTS TAXPAYERS' RIGHTS BY PROVIDING ACCESS TO REPRESENTATION FOR LOW-INCOME TAXPAYERS, SO THAT ACHIEVING A CORRECT OUTCOME IN AN IRS DISPUTE DOES NOT DEPEND ON THE TAXPAYER'S ABILITY TO PAY FOR REPRESENTATION. DCRAC'S LITC PROVIDES FREE LEGAL SERVICES TO LOW-INCOME TAXPAYERS IN DELAWARE. SINCE 2003, WE HAVE HELPED MORE THAN 1,000 TAXPAYERS RESOLVE THEIR TAX DEBTS WITH THE STATE AND THE IRS.
ECONOMIC JUSTICE PROGRAM: WE WORK AT THE STATE AND FEDERAL LEVEL TO PREVENT PASSING BAD LAWS, SYSTEMIC INJUSTICE, AND TO MAKE THE FINANCIAL AND ECONOMIC SYSTEM FAIRER. IN 2011, WE CHARTERED STEPPING STONES COMMUNITY FEDERAL CREDIT UNION TO OFFER FINANCIAL INCLUSION-THE BRIDGE BETWEEN ECONOMIC OPPORTUNITY AND OUTCOMES.
DCRAC LAW PROVIDES A FREE OR AFFORDABLE LAWYER. THE ACCESS-TO-JUSTICE CRISIS IS BIGGER THAN LAW AND LAWYERS. IT IS A CRISIS OF EXCLUSION AND INEQUALITY. TODAY, ACCESS TO JUSTICE IS RESTRICTED: ONLY SOME PEOPLE, AND ONLY SOME KINDS OF JUSTICE PROBLEMS, RECEIVE LAWFUL RESOLUTION. LOW BONO IS ONE OF THE INNOVATIVE SOLUTIONS TO IMPROVE ACCESS TO JUSTICE. IN DELAWARE, WE ARE THE ONLY SUCH SERVICE. OUR PRACTICE AREAS ARE WILLS AND ESTATE, PROBATE, SMALL BUSINESS FORMATION, CONTRACTS & DOCUMENT REVIEW, AND CONSULTATIONS-ALL TIED TO WEALTH PRESERVATION. DCRAC LAW ALSO OFFERS THE ONLY FREE LOW-INCOME TAX REPRESENTATION-A PROGRAM FUNDED BY THE IRS.
MONEY SCHOOL: EDUCATES ABOUT MONEY BECAUSE MANAGING ONE'S FINANCES IS A COMPLEX SET OF CHALLENGES IN THE BEST OF TIMES, REQUIRING A COMBINATION OF SKILLS, JUDGMENT AND RESOURCES. IN TODAY'S VOLATILE PANDEMIC AND ECONOMIC ENVIRONMENT, THE CHALLENGES ARE ESPECIALLY ACUTE AND THE DOWNSIDE RISKS ARE GREAT. INDIVIDUALS AND FAMILIES MUST GRAPPLE WITH A BEWILDERING VARIETY OF FINANCIAL DECISIONS, RANGING FROM CHOOSING A BANK AND MANAGING VARIOUS KINDS OF DEBT, TO PLANNING FOR RETIREMENT AND PURCHASING INSURANCE. EVEN THE SIMPLEST OF THESE DECISIONS REQUIRES AT LEAST SOME BASIC FINANCIAL KNOWLEDGE AND COMPETENCY, WHILE THE MORE COMPLICATED DECISIONS ARE CHALLENGING EVEN FOR EXPERTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rashmi Rangan Executive Director | Officer | 40 | $94,327 |
Al Griffith Chair | OfficerTrustee | 1 | $0 |
Eric Smith Vice Chair | OfficerTrustee | 1 | $0 |
Eray Guven Secretary | OfficerTrustee | 1 | $0 |
Jan Slattery Treasurer | OfficerTrustee | 1 | $0 |
Mary Horchos Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $26,100 |
| Related organizations | $0 |
| Government grants | $117,530 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,234,614 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,378,244 |
| Total Program Service Revenue | $0 |
| Investment income | $19,211 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $900 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$6,117 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,423,732 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $350,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $94,327 |
| Compensation of current officers, directors, key employees. | $7,546 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $364,229 |
| Pension plan accruals and contributions | $3,400 |
| Other employee benefits | $0 |
| Payroll taxes | $34,213 |
| Fees for services: Management | $38,400 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $71,648 |
| Office expenses | $13,472 |
| Information technology | $20,032 |
| Royalties | $0 |
| Occupancy | $36,737 |
| Travel | $3,023 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $749 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,982 |
| Insurance | $21,004 |
| All other expenses | $0 |
| Total functional expenses | $1,133,277 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,394,823 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $378,498 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,789 |
| Net Land, buildings, and equipment | $605,225 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $15,913 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,405,248 |
| Accounts payable and accrued expenses | $7,253 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,253 |
| Net assets without donor restrictions | $2,147,995 |
| Net assets with donor restrictions | $250,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,405,248 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Delaware Community Reinvestment Action Council Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Usw District 10 Local 286 Welfare Trust Fund Philadelphia, PA | $8,668,111 | $17,307,586 |
Pennreach Allentown, NJ | $5,187,786 | $15,924,501 |
Garrett County Maryland Community Action Committee Inc Oakland, MD | $23,823,939 | $14,024,119 |
Strong City Baltimore Baltimore, MD | $3,607,626 | $14,803,870 |
Visit Baltimore Inc Baltimore, MD | $13,591,522 | $23,022,151 |
Liberty Lutheran Housing Development Corporation State College, PA | $52,974,358 | $15,701,429 |
Allegany County Human Resources Development Commission Inc Cumberland, MD | $11,830,782 | $13,688,639 |
Evas Village Inc Paterson, NJ | $22,074,014 | $13,649,312 |
Fusion Partnerships Inc Baltimore, MD | $7,468,833 | $16,079,107 |
University City District Philadelphia, PA | $9,386,670 | $9,712,200 |
Hemlock Farms Community Association Lords Valley, PA | $26,523,624 | $12,038,926 |
New Jersey Community Development Corporation Inc Paterson, NJ | $38,005,348 | $12,337,768 |