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Nonprofiteer
← DELAWARE COMMUNITY REINVESTMENT ACTION COUNCIL INC

Form 990 for tax year 2023

Filed by DELAWARE COMMUNITY REINVESTMENT ACTION COUNCIL INC.

Totals

Total revenue
$1,036,894
Total expenses
$1,261,935
Contributions and grants received
$949,475
Grants paid
$510,000
Program service revenue
$0
Investment income
$54,065
Other revenue
$33,354
Total assets, end of year
$2,284,739
Total liabilities, end of year
$11,910
Net assets or fund balances, end of year
$2,272,829
Program services expenses (Part IX)
$1,183,249
Management and general expenses
$78,686
Fundraising expenses
$0
Program service expenses (Part III)
$1,183,249

Program services were 93.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $35,000

  • 1e · Government grants (contributions)

    $195,180

  • 1f · All other contributions, gifts and grants

    $719,295

  • 3 · Investment income

    total $54,065 · excluded $54,065

  • 6a · Gross rents

    real property $1,800

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $1,800

  • 6d · Net rental income or loss

    total $1,800 · excluded $1,800

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $35,000

  • 8b · Fundraising events: direct expenses

    $18,940

  • 8c · Net income from fundraising events

    total -$18,940 · excluded -$18,940

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $50,494 · related or exempt $50,494

  • 11e · Other revenue, total

    $50,494

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $510,000 · program services $510,000

  • 5 · Compensation of officers, directors and key employees

    total $230,658 · program services $202,978 · management and general $27,680

  • 7 · Other salaries and wages

    total $288,382 · program services $253,777 · management and general $34,605

  • 9 · Other employee benefits

    total $702 · program services $618 · management and general $84

  • 10 · Payroll taxes

    total $39,744 · program services $34,975 · management and general $4,769

  • 11c · Fees: accounting

    total $12,500 · program services $11,750 · management and general $750

  • 12 · Advertising and promotion

    total $55,052 · program services $51,749 · management and general $3,303

  • 13 · Office expenses

    total $9,003 · program services $8,463 · management and general $540

  • 14 · Information technology

    total $11,634 · program services $10,936 · management and general $698

  • 16 · Occupancy

    total $8,367 · program services $7,864 · management and general $503

  • 17 · Travel

    total $11,041 · program services $10,379 · management and general $662

  • 19 · Conferences, conventions and meetings

    total $1,244 · program services $1,169 · management and general $75

  • 22 · Depreciation, depletion and amortization

    total $34,390 · program services $32,327 · management and general $2,063

  • 23 · Insurance

    total $25,014 · program services $23,513 · management and general $1,501

  • 24a · Other expenses: MISCELLANEOUS

    total $16,543 · program services $15,550 · management and general $993

  • 24b · Other expenses: UTILITIES

    total $7,661 · program services $7,201 · management and general $460

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $871,092 · end of year $912,175

  • 2 · Savings and temporary cash investments

    beginning of year $771,385 · end of year $561,049

  • 7 · Other notes and loans receivable

    beginning of year $229,059 · end of year $175,039

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,789 · end of year $11,910

  • 10a · Land, buildings and equipment: cost or other basis

    $915,641

  • 10b · Land, buildings and equipment: accumulated depreciation

    $310,101

  • 10c · Land, buildings and equipment, net

    beginning of year $605,595 · end of year $605,540

  • 12 · Investments: other securities

    beginning of year $16,508 · end of year $19,026

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,558 · end of year $11,910

  • 27 · Net assets without donor restrictions

    beginning of year $2,247,870 · end of year $2,022,829

  • 28 · Net assets with donor restrictions

    beginning of year $250,000 · end of year $250,000

Mission and programs · 2023

Mission

LED FOR 25 YEARS BY AN IMMIGRANT, ASIAN-AMERICAN WOMAN OF COLOR, DCRAC UNDERSTANDS THE CHALLENGES FACING DELAWARE'S UNDERSERVED COMMUNITY, WHICH IS STATEWIDE, MULTILINGUAL, ECONOMICALLY DISENFRANCHISED AND LARGELY MINORITY. OUR PURPOSE IS TO ADDRESS BARRIERS TO THE RACIAL WEALTH DIVIDE THAT LEAVES AN AVERAGE AMERICAN FAMILY OF COLOR WITH ONLY 16 CENTS FOR EVERY DOLLAR OWNED BY THE AVERAGE WHITE FAMILY. FOR MANY IN THE NONPROFIT WORLD, THERE IS ONE ASPECT THAT FEELS PAINFULLY FAMILIAR: ECONOMIC CRISIS. IN OUR 37 YEARS, WE FACED THE S&L/GULF WAR CRISIS OF 1990, THE DOT.COM/911 CRISIS OF 2001, THE 2008 MARKET CRASH. EVERY ECONOMIC TSUNAMI HITS BLACK AND BROWN COMMUNITIES IN DISPROPORTIONATE AND DEVASTATING WAYS. PIVOTING AND ADJUSTING TO NEW REALITIES IS THEREFORE SECOND NATURE TO US. WE SERVE A COMMUNITY THAT CANNOT HARNESS AN ARRAY OF RESOURCES, CAPABILITIES, AND INSTITUTIONAL SUPPORTS TO MOVE UP THE ECONOMIC LADDER WITH EASE.

Activities or mission (Part I)

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.

  • 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.

    Expenses $160,188

  • 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.

    Expenses $685,902 · Grants $510,000

  • ESTATE PLANNING: 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.

    Expenses $182,566 · Revenue $50,494

  • 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.

    Expenses $154,593

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Albert Griffith

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Eric Smith

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Joel Amin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Dr Audrey Blume

    DIRECTOR FROM 3/24

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Eric Evans

    DIRECTOR FROM 3/24

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Lillian Harrison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Darren Moore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Luly Santos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Lisa Spellman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Vernon Vassalo Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rashmi Rangan

    EXECUTIVE DIRECTOR

    Total calculated
    $116,781
    From this org
    $116,781
    From related orgs
    $0
    Other
    $0
    Hours/week
    40 + 20 related

  • Jaclyn Quinn

    DEPUTY DIRECTOR

    Total calculated
    $113,877
    From this org
    $113,877
    From related orgs
    $0
    Other
    $0
    Hours/week
    40 + 1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • STEPPING STONES COMMUNITY FEDERAL CREDIT UNION

    $510,000

    STEPPING STONES COMMUNITY FEDERAL CREDIT UNION WAS ENVISIONED, CREATED, SPONSORED AND OPERATED BY DCRAC. ALTHOUGH A SEPARATE LEGAL ENTITY, STEPPING STONES SERVES THE LOW-INCOME COMMUNITY IN CONSONANCE WITH AND COMPLEMENTING THE DCRAC MISSION.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • STEPPING STONES COMMUNITY FEDERAL CREDIT UNION

    501(C)(1) · CREDIT UNION PROVIDING FINANCIAL SERVICES TO UNDERSERVED POPULATIONS. · DE

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • DCRAC ECONOMIC DEVELOPMENT FUNDLLC

    RECEIVING PROCEEDS FROM DONATED LOANS · DE · income $76,448 · assets $945,765

    Directly controlled by DELAWARE COMMUNITY REINVESTMENT ACTION COUNCIL INC

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202541329349305464

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