← DELAWARE COMMUNITY REINVESTMENT ACTION COUNCIL INC

Form 990 for tax year 2024

Filed by DELAWARE COMMUNITY REINVESTMENT ACTION COUNCIL INC.

Totals

Total revenue: $900,419
Total expenses: $1,719,427
Contributions and grants received: $799,252
Grants paid: $1,000,000
Program service revenue: $0
Investment income: $42,419
Other revenue: $58,748
Total assets, end of year: $1,466,942
Total liabilities, end of year: $13,121
Net assets or fund balances, end of year: $1,453,821
Program services expenses (Part IX): $1,646,398
Management and general expenses: $73,029
Fundraising expenses: $0
Program service expenses (Part III): $1,646,398

Program services were 95.8% 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

$17,550
1e · Government grants (contributions)

$202,760
1f · All other contributions, gifts and grants

$578,942
3 · Investment income

total $42,419 · excluded $42,419
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

$17,550
8b · Fundraising events: direct expenses

$4,493
8c · Net income from fundraising events

total -$4,493 · excluded -$4,493
11a · Other revenue: MISCELLANEOUS INCOME

total $61,441 · related or exempt $61,441
11e · Other revenue, total

$61,441

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $1,000,000 · program services $1,000,000
5 · Compensation of officers, directors and key employees

total $133,120 · program services $117,146 · management and general $15,974
7 · Other salaries and wages

total $333,021 · program services $293,058 · management and general $39,963
10 · Payroll taxes

total $31,559 · program services $27,772 · management and general $3,787
11c · Fees: accounting

total $13,142 · program services $12,353 · management and general $789
12 · Advertising and promotion

total $61,418 · program services $57,733 · management and general $3,685
13 · Office expenses

total $20,186 · program services $18,975 · management and general $1,211
14 · Information technology

total $10,515 · program services $9,884 · management and general $631
16 · Occupancy

total $13,172 · program services $12,381 · management and general $791
17 · Travel

total $6,729 · program services $6,325 · management and general $404
19 · Conferences, conventions and meetings

total $397 · program services $373 · management and general $24
22 · Depreciation, depletion and amortization

total $36,806 · program services $34,598 · management and general $2,208
23 · Insurance

total $17,010 · program services $15,989 · management and general $1,021
24a · Other expenses: MISCELLANEOUS

total $34,066 · program services $32,022 · management and general $2,044
24b · Other expenses: UTILITIES

total $8,286 · program services $7,789 · management and general $497

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $912,175 · end of year $722,392
2 · Savings and temporary cash investments

beginning of year $561,049
3 · Pledges and grants receivable

end of year $22,300
7 · Other notes and loans receivable

beginning of year $175,039 · end of year $120,340
9 · Prepaid expenses and deferred charges

beginning of year $11,910 · end of year $11,910
10a · Land, buildings and equipment: cost or other basis

$915,641
10b · Land, buildings and equipment: accumulated depreciation

$346,908
10c · Land, buildings and equipment, net

beginning of year $605,540 · end of year $568,733
12 · Investments: other securities

beginning of year $19,026 · end of year $21,267
17 · Accounts payable and accrued expenses

beginning of year $11,910 · end of year $13,121
27 · Net assets without donor restrictions

beginning of year $2,022,829 · end of year $1,453,821
28 · Net assets with donor restrictions

beginning of year $250,000 · end of year $0

Mission and programs · 2024

Mission

FOUNDED TO REALIZE THE PROMISE OF A COMMUNITY-CENTRIC FINANCIAL SYSTEM, DCRAC PROVIDES LOW- AND NO-COST SERVICES THAT ENABLE DELAWAREANS TO UNTANGLE AND TAKE CHARGE OF THEIR FINANCIAL LIVES.WE INTEGRATE LEGAL AND FINANCIAL SERVICES WITH COMMUNITY EDUCATION AND ADVOCACY SO THAT LOW- TO MODEST-WEALTH CLIENTS CAN SECURE THEIR OWN FINANCIAL FUTURES AND THRIVE WITHIN MAINSTREAM BANKING AND LEGAL SYSTEMS. WE PROUDLY WORK WITH COMMUNITY MEMBERS TO SERVE THEIR NEEDS, ENSURING EVERYONE WHO WALKS THROUGH OUR DOORS HAS THE NECESSARY SERVICES, RESOURCES, AND KNOWLEDGE TO ACCESS CREDIT, CAPITAL, AND LEGAL SUPPORT. IN DELAWARE, WE'RE ALSO THE ONLY GROUP MAKING SURE THAT BANKS AROUND WHICH OUR STATE ECONOMY IS BUILT GIVE BACK TO THE COMMUNITYAND WE'VE BEEN DOING THAT SINCE 1987.ALL OUR WORK TRANSFORMS THE FINANCIAL LIVES OF OUR CLIENTS THROUGH TARGETED OUTREACH, CUSTOMIZED EDUCATION, TAILORED PRODUCTS, AND STRATEGIC LEGAL CARE TO PRESERVE THE WEALTH WE HELP OUR FAMILIES CREATE.

Activities or mission (Part I)

DCRAC TRANSFORMS FINANCIAL LIVES BY ADVOCATING FOR FAIR CONSUMER FINANCE AND BANKING PRACTICES, AND PROVIDING HIGH QUALITY LEGAL SERVICES AND FINANCIAL EDUCATION FOR LOW OR NO COST TO ITS CLIENTS.

DCRAC LAW: TAX PRACTICE AKA LOW INCOME TAXPAYER CLINIC (LITC) IS A FREE LEGAL SERVICE TO SUPPORT TAXPAYERS IN DEALING WITH THE IRS ENSURING THAT LOW- AND MODERATE-INCOME HOUSEHOLDS HAVE A FAIR CHANGE IN RESOLVING TAX ISSUES AND ACCESSING CREDITS TO WHICH THEY ARE ENTITLED.

Expenses $156,647
STEPPTING STONES COMMUNITY FEDERAL CREDIT UNION: FOUND BY DCRAC IN 2011, STEPING STONES IS NOW A FULLY INDEPENDENT CREDIT UNION THAT PROVIDES ACCESS TO SAFE, AFFORDABLE FINANCIAL PRODUCTS TO ALL COMERS.

Expenses $1,161,526 · Grants $1,000,000
DCRAC LAW: ESTATE PRACTICE: AFFORDALE LEGAL SERVCIES TO PROTECT HOMEOWNERSHIPAND PRESERVE GENERATIONAL WEALTH, WE PROVIDE WILLIS, PROBATE, AND TITLE-CLEARING SERVICES SO FAMILIES CAN STAY IN THEIR HOMES, PREVENT TANGLED TITLES, AND TRANSFER ASETS SECURELY AND EFFICIENTLY.

Expenses $176,555 · Revenue $61,441
THE MONEY SCHOOL: MOST ADULTS NEED TO MANAGE FINANCIAL MATTERS BETTER, BUT NOT EVERYONE GETS THE SAME EDUCATION GROWING UP. WITH FREE CLASSES TAUGHT BY VOLUNTEER PROFESSIONALS, WE EQUIP DELAWAREANS WITH THE SKILLS TO BUDGET, SAVE AND INVEST, SO THEY CAN ACHIEVE FINANCIAL STABILITY.

Expenses $151,670

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Albert GriffithALBERT GRIFFITH

CHAIR

Total calculated

$0

Hours/week

1 + 1 related
Eric SmithERIC SMITH

VICE CHAIR

Total calculated

$0

Hours/week

1 + 1 related
Joel AminJOEL AMIN

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Dr Aubrey BlumeDR AUBREY BLUME

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Eric EvansERIC EVANS

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Lillian HarrisonLILLIAN HARRISON

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Domenic PedanteDOMENIC PEDANTE

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Luly SantosLULY SANTOS

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Lisa SpellmanLISA SPELLMAN

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Vernon Vassallo EsqVERNON VASSALLO ESQ

DIRECTOR

Total calculated

$0

Hours/week

1 + 1 related
Rashmi RanganRASHMI RANGAN

EXECUTIVE DIRECTOR

Total calculated

$133,120

From this org

$133,120

From related orgs

$0

Other

$0

Hours/week

40 + 20 related
Jaclyn QuinnJACLYN QUINN

DEPUTY DIRECTOR

Total calculated

$131,040

From this org

$131,040

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

$1,000,000

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 $76,441 · assets $263,445

Directly controlled by DELAWARE COMMUNITY REINVESTMENT ACTION COUNCIL INC

Provenance

Return type: form_990
Tax year: 2024
Filed: 23 January 2026
IRS schema version: 2024v5.5
Source object: 202640239349300804

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.