2023-09-05T18:57:20-05:00 2022-12-31 510232399 BELFINT LYONS & SHUMAN PA 1011 CENTRE RD STE 310 WILMINGTON DE 19805 990 2022-01-01 510345258 TRUE ACCESS CAPITAL CORPORATION TRUE 3026526774 100 WEST 10TH STREET 300 WILMINGTON DE 19801 VANDELL HAMPTON JR PRESIDENT & CEO 3026526774 2023-08-15 1 VANDELL HAMPTON JR 999009999 0 JONATHAN D MOLL CPA P01053700 3022250600 2023-08-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z VANDELL HAMPTON JR 100 WEST 10TH STREET 300 WILMINGTON DE 19801 3427829 0 X WWW.TRUEACCESSCAPITAL.ORG X 1992 DE BUILDING A THRIVING COMMUNITY BY EMPOWERING A DIVERSE BASE OF ENTREPRENEURS AND BUSINESSES THROUGH ACCESS TO CAPITAL, EDUCATION, ADVOCACY AND OPPORTUNITY. 13 13 13 40 0 0 6968577 1731280 1297132 1411258 2206 -44994 27892 45779 8295807 3143323 100000 204050 0 0 1175665 1143810 0 0 56815 1311189 2162643 2586854 3510503 5708953 -367180 20176608 22058882 9502145 11751599 10674463 10307283 X BUILDING A THRIVING COMMUNITY BY EMPOWERING A DIVERSE BASE OF ENTREPRENEURS AND BUSINESSES THROUGH ACCESS TO CAPITAL, EDUCATION, ADVOCACY AND OPPORTUNITY. 0 0 3306639 204050 1442177 DURING 2022, TRUE ACCESS CAPITAL CORPORATION MADE NEW LOANS AS FOLLOWS: MICRO LOAN FUND - $729,000, BUSINESS GROWTH FUND - $1,040,900, COMMUNITY DEVELOPMENT LOAN FUND - $4,333,000. SMALL BUSINESS LOANS - ONE OF TACC'S PRIMARY OBJECTIVES IS PROVIDING FINANCING AND SUPPORT SERVICES FOR SMALL BUSINESS ENTERPRISES. THROUGH THIS PROGRAM, TACC CREATES JOBS AND BUILDS WEALTH IN EMERGING MARKETS THROUGHOUT THE STATE OF DELAWARE AND SOUTHEASTERN PENNSYLVANIA. TACC HAS TWO PRIMARY SMALL BUSINESS LENDING PROGRAMS - THE MICRO LOAN FUND AND THE BUSINESS GROWTH FUND. THE COMMUNITY DEVELOPMENT FUND FOCUSES ON PROVIDING CAPITAL FOR COMMUNITY-BASED PROJECTS, SUCH AS MIXED-USE PROPERTIES (RESIDENTIAL & RETAIL), NOT-FOR-PROFIT ORGANIZATIONS OTHER THAN HOUSING DEVELOPERS,CHILD CARE CENTERS AND OTHER COMMUNITY FACILITIES. THIS FUND PROVIDES UP TO $500,000 PER OBLIGOR WITH A MAXIMUM TERM OF FIVE YEARS. THE OBJECTIVE OF THE COMMUNITY DEVELOPMENT LOAN PROGRAM IS TO ADDRESS ALL OTHER LENDING THAT DOES NOT FALL SPECIFICALLY WITHIN THE PARAMETERS OF THE AFFORDABLE HOUSING OR SMALL BUSINESS LENDING PRODUCTS. THROUGH THE COMMUNITY DEVELOPMENT LENDING PRODUCT TACC IS EMPOWERED TO BRING SOME BENEFIT TO A PARTICULAR COMMUNITY IN THE FORM OF, FOR EXAMPLE, A NEW CHILD CARE CENTER, A HEALTH CARE PROVIDER, OR BY ASSISTING WITH THE PURCHASE OR REHABILITATION OF OFFICE SPACE FOR A NON-PROFIT ORGANIZATION. 3306639 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 106 0 1 13 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 X X TRUE ACCESS CAPITAL CORPORATION 3026526774 100 WEST 10TH STREET SUITE 300 WILMINGTON DE 19801 PAUL B HUGHES III CHAIR 1.00 X X 0 0 0 RACHAEL MEARS TREASURER 1.00 X X 0 0 0 PEDRO VIERA JR BOARD MEMBER 1.00 X 0 0 0 JOHN M BONHOMME BOARD MEMBER 1.00 X 0 0 0 JUDITH M SCARBOROUGH CPA CVA CFF VICE CHAIR 1.00 X X 0 0 0 JONATHAN KLASS BOARD MEMBER 1.00 X 0 0 0 MATTHEW KATTLER CFA BOARD MEMBER 1.00 X 0 0 0 SHERYL SCANLON EDD BOARD MEMBER 1.00 X 0 0 0 GLORIA ZOOK DIODATO BOARD MEMBER 1.00 X 0 0 0 RICHARD E CAMPBELL SR BOARD MEMBER 1.00 X 0 0 0 EMANUEL V DESHIELDS BOARD MEMBER 1.00 X 0 0 0 ROBERT GUNTER BOARD MEMBER 1.00 X 0 0 0 BARRY L LOTT BOARD MEMBER 1.00 X 0 0 0 VANDELL HAMPTON JR PRESIDENT & CEO 37.50 X 157295 0 14342 LORENZO MERINO DIRECTOR OF LENDING 37.50 X 107000 0 9623 264295 0 23965 2 0 1 0 0 27800 1040643 662837 1731280 INTEREST ON LOAN 522100 1009267 1009267 CONTRACTUAL INCOME 522100 259254 259254 LOAN FEES 522100 103345 103345 PROGRAM REVENUE 522100 38371 38371 RECOVERY INCOME 522100 1021 1021 1411258 4004 4004 28476 0 28476 28476 28476 214942 263940 -48998 -48998 -48998 6950 27800 20566 -13616 -13616 MISCELLANEOUS 900099 30919 30919 30919 3143323 1442177 0 -30134 X 184050 184050 20000 20000 171637 162368 8421 848 813650 769707 39554 4389 14124 13360 662 102 71426 63549 7562 315 72973 68133 4483 357 21864 17834 4030 30987 29018 1290 679 482310 398000 36504 47806 5681 4855 500 326 50644 33468 16864 312 65281 63885 233 1163 42922 30508 12414 18861 15800 3036 25 28090 25191 2899 272190 272190 13927 13041 581 305 33835 33339 325 171 PROVISION FOR LOAN LOSS 1037545 1037545 LOAN FEES 43315 43315 DUES AND SUBSCRIPTIONS 9458 7108 2333 17 REPAIRS AND MAINTENANCE 5733 375 5358 3510503 3306639 147049 56815 5041247 3491223 4040289 3996892 411498 251224 10020352 13432111 60586 45660 308697 76394 184389 232303 312475 48535 105772 560934 20176608 22058882 104891 110859 420 140 11507 11043 8822895 10371637 500000 1000000 62432 257920 9502145 11751599 X 5295256 6283222 5379207 4024061 10674463 10307283 20176608 22058882 -367180 0 X 0 1 X 1 1 1 X 1677968 1207509 2897315 6968577 1731280 14482649 1677968 1207509 2897315 6968577 1731280 14482649 1586957 12895692 -13204 -13346 23786 42447 32480 72163 4825 340 6909 14985 30919 57978 14612790 5666977 0.88250 0.86370 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 186629 14785 171844 46677 43794 2883 75391 17815 57576 232303 PARTICIPATION BALANCE DUE TO DEDA 62432 OPERATING LEASE LIABILITY 195488 257920 X 3163889 20566 20566 3143323 0 3143323 3531069 20566 20566 3510503 0 3510503 PART IV, LINE 2B: THE ORGANIZATION RECEIVES CASH FROM PROSPECTIVE BORROWERS, AND PARTICIPATING ENTITIES IN ADVANCE, TO SUPPORT BORROWINGS. THESE AMOUNTS ARE HELD IN THE ORGANIZATION'S CASH ACCOUNTS UNTIL THE RELATED LOANS ARE DISBURSED. PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES. THERE WERE NO UNRELATED BUSINESS ACTIVITIES DURING THE YEAR. THE ORGANIZATION'S FEDERAL EXEMPT ORGANIZATION INCOME TAX RETURNS (FORM 990) ARE SUBJECT TO EXAMINATION BY VARIOUS TAXING AUTHORITIES. THE ORGANIZATION'S OPEN AUDIT PERIODS ARE THE CURRENT YEAR AND THREE PRECEDING YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES REPORTED AS A REDUCTION OF EVENT REVENUE ON 990 PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES REPORTED AS A REDUCTION OF EVENT REVENUE ON 990 ANNUAL MEETING 34750 27800 6950 458 16654 3454 34750 27800 6950 458 16654 3454 20566 -13616 1 ULTIMATE FIRE 919 N MARKET STREET WILMINGTON DE 19899 20000 0 BOOK EMERGENCY RELIEF - DELMARVA HONOS LANDSCAPING 100 W 10TH ST WILMINGTON DE 19801 20000 0 BOOK EMPOWERMENT FUND GRANT BLUE GNEISS LLC STATE PARK 41 ADAMS DAM RD WILMINGTON DE 19732 10000 0 BOOK CRF GRANT BOOKS & BAGELS LLC 1139 W 7TH ST WILMINGTON DE 19805 10000 0 BOOK CRF GRANT HIGHLANDER REALTY LLC 190 HAUT BRION AVE NEWARK DE 19702 10000 0 BOOK CRF GRANT DELAWARE LIMO 30 POTTSTOWN PIKE CHESTER SPRINGS PA 19425 20000 0 BOOK EMPOWERMENT FUND JOY'S HAIR BOUTIQUE 123 N FRANKLIN ST WILMINGTON DE 19805 5650 0 BOOK CRF GRANT TRUST RENOVATIONS 1 MADISON ST WILMINGTON DE 19802 16000 0 BOOK EMPOWERMENT FUND GRANT THE CAFE JOINT 100 W 10TH ST WILMINGTON DE 19801 20000 0 BOOK EMPOWERMENT FUND GRANT TROISIEME GROUP 2205 N WASHINGTON ST WILMINGTON DE 19802 10000 0 BOOK EMPOWERMENT FUND GRANT HISPANIC AMERICAN ASSOCIATION 1801 LANCASTER AVERNUE WILMINGTON DE 19805 10000 0 BOOK CRF GRANT CUPCAKE KOUTURE BAKERY 212 W MARKET STREET NEWPORT DE 19804 12400 0 BOOK EMPOWERMENT FUND GRANT EAT CLEAN JUICE BAR 225 N MARKET ST WILMINGTON DE 19801 10000 0 BOOK EMPOWERMENT FUND GRANT 0 15 SUSTAINABILITY FOR FEMALE ENTREPRENEURS 3 20000 PART I, LINE 2: APPLICATIONS ARE EVALUATED AND GRANTS ARE AWARDED BASED ON MEETING CRITERIA OF THE AWARD. GRANTS AWARDED BY THE ORGANIZATION ARE DISBURSED DIRECTLY BY THE ORGANIZATION TO THE GRANTEE OR GRANTEES' VENDORS ACCORDING TO THE TERMS OF THE AGREEMENT X 0 0 0 0 0 0 0 1 0 VANDELL HAMPTON JR PRESIDENT & CEO 155295 0 2000 0 0 0 4719 0 9623 0 171637 0 0 0 PART I, LINE 7 ANNUAL BONUSES ARE PAID BASED ON ASSESSMENT OF PERFORMANCE. FORM 990, PART VI, SECTION B, LINE 11B TACC'S AUDITORS MEET WITH THE BOARD OF DIRECTORS PRIOR TO THE COMPLETION OF THE ANNUAL AUDIT TO EXPLAIN THE AUDIT AND 990 PREPARATION PROCESSES. FORM 990, PART VI, SECTION B, LINE 12C TACC REQUIRES ALL DIRECTORS, OFFICERS, AND EMPLOYEES TO SIGN A CONFLICT OF INTEREST FORM ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT & CEO RECOMMENDS SALARY FOR THE ENTIRE STAFF TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS DETERIMINES THE PRESIDENT & CEO'S SALARY. THE BOARD OF DIRECTORS ALSO APPROVES THE ANNUAL BUDGET, WHICH INCLUDES SALARIES FOR ALL EMPLOYEES. A COMPENSATION STUDY BASED ON CDFI INDUSTRY MARKET DATA WAS DEVELOPED BY THE BOARD OF DIRECTORS FOR DETERMINING THE PRESIDENT & CEO'S SALARY. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING FEES: PROGRAM SERVICE EXPENSES 398,000. MANAGEMENT AND GENERAL EXPENSES 36,504. FUNDRAISING EXPENSES 47,806. TOTAL EXPENSES 482,310. TRUE ACCESS HOLDINGS LLC 100 WEST 10TH STREET WILMINGTON DE 19801 843695184 HOLD AND RENT REPOSSESSED REAL ESTATE DE 28476 440993 TRUE ACCESS CAPITAL CORPORATION FSCLF HOLDING LLC 100 W 10TH STREET SUITE 300 WILMINGTON DE 19801 453833176 REAL ESTATE MANAGEMENT DE -48998 0 1 0.50000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0