2021-01-28T08:10:54-06:00 2020-06-30 510232475 COVER & ROSSITER PA 2711 CENTERVILLE ROAD SUITE 100 WILMINGTON DE 19808 990 2019-07-01 510329119 DELAWARE COMMUNITY REINVESTMENT ACTION COUNCIL INC DELA 3022983250 600 SOUTH HARRISON STREET WILMINGTON DE 19805 MS RASHMI RANGAN EXECUTIVE DIRECTOR 3022983250 2021-01-25 1 PETER KENNEDY P00571422 3026566632 2021-01-25 2019 2022-09-23 18:48:47Z MS RASHMI RANGAN 600 SOUTH HARRISON STREET WILMINGTON DE 19805 1000765 0 X WWW.DCRAC.ORG X 1987 DE DCRAC IS A NONPROFIT IN THE BUSINESS OF TRANSFORMING FINANCIAL LIVES FOR DELAWAREANS THROUGH ADVOCACY, BANKING, LAW, AND EDUCATION. ITS MISSION IS TO ENSURE EQUITABLE TREATMENT AND EQUAL ACCESS TO CREDIT AND CAPITAL. WE BELIEVE EVERYONE DESERVES A CHANCE TO SUCCEED, AND WE OFFER GUIDANCE AND SUPPORT TO DO SO. WE SERVE DELAWARE FAMILIES WORKING HARD TO ESCAPE POVERTY AND BUILD A BETTER LIFE FOR THEMSELVES AND THEIR FAMILIES. 9 9 9 30 0 0 1882076 852003 0 0 787 47835 18949 91785 1901812 991623 122345 105000 0 0 435921 426076 0 0 0 489946 209684 1048212 740760 853600 250863 1723396 1989815 9378 24934 1714018 1964881 X DCRAC IS A NONPROFIT IN THE BUSINESS OF TRANSFORMING FINANCIAL LIVES FOR DELAWAREANS THROUGH ADVOCACY, BANKING, LAW, AND EDUCATION. ITS MISSION IS TO ENSURE EQUITABLE TREATMENT AND EQUAL ACCESS TO CREDIT AND CAPITAL. WE BELIEVE EVERYONE DESERVES A CHANCE TO SUCCEED, AND WE OFFER GUIDANCE AND SUPPORT TO DO SO. WE SERVE DELAWARE FAMILIES WORKING HARD TO ESCAPE POVERTY AND BUILD A BETTER LIFE FOR THEMSELVES AND THEIR FAMILIES. 0 0 139671 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. 245273 105000 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 PROVIDE BANKING SERVICES TO THOSE IN THE CITY OF WILMINGTON WHO HAVE NONE AND OTHERWISE PAY HIGHLY FOR FRINGE SERVICES SUCH AS CHECK CASHING AND PAYROLL CARDS. OUR TARGET COMMUNITY IN WILMINGTON INCLUDES ABOUT 1,700 UNBANKED, 6,000 UNDERBANKED, 7,000 BELOW POVERTY LEVELS, AND 9,000 WITHOUT BROADBAND ACCESS. IT IS A FEDERAL HOME LOAN BANK MEMBER, A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, AND THE ONLY CERTIFIED MINORITY OWNED FINANCIAL INSTITUTION IN DELAWARE. 156714 DCRAC LAW (FORMELY HOUSING CLINIC): OUR TARGET COMMUNITY IS THOSE IN DELAWARE WHO ARE LOW INCOME, OR UNABLE TO QUALIFY FOR FREE LEGAL AID AND FIND THE MARKET PLACE EXTREMELY UNAFFORDABLE. ATTORNEYS ON STAFF PROVIDE ACCESS TO JUSTICE THROUGH AFFORDABLY PRICED, CRITICALLY NEEDED LEGAL SERVICES SUCH AS CONSULTATIONS, ESTATE PLANNING, PROBATE, TITLE ISSUES, AND BUSINESS FORMATION. 135395 7438 MONEY SCHOOL (FORMERLY CREDIT CLINIC): CREATED TO BUILD FINANCIAL CAPACITY OF DELAWAREANS BY PROVIDING FREE EDUCATION ABOUT MONEY, THE MONEY SCHOOL OPERATES STATEWIDE AND CLASSES ARE AVAILABLE TO EVERYONE AT NO COST. WE EMPOWER FAMILIES THAT FEEL LOCKED IN POVERTY TO OVERCOME ECONOMIC CHALLENGES (INABILITY TO SAVE, INADEQUATE ACCESS TO FINANCIAL SERVICES, ETC.) THROUGH EDUCATION AND TAILORED COUNSELING AND COACHING. 135395 7438 677053 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 9 0 1 9 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X X MS RASHMI RANGAN 3022983250 600 SOUTH HARRISON STREET WILMINGTON DE 19805 CAROL L DAVIS CHAIRMAN 1.00 1.00 X X 0 0 0 DAN BODDIE VICE CHAIRMAN 1.00 1.00 X X 0 0 0 DOMENIC PEDANTE SECRETARY 1.00 1.00 X X 0 0 0 LISA SPELLMAN DIRECTOR 1.00 1.00 X 0 0 0 CHANTEL VANDERHORST DIRECTOR 1.00 1.00 X 0 0 0 ALBERT GRIFFITH DIRECTOR 1.00 1.00 X 0 0 0 KATHY MCDANIEL DIRECTOR 1.00 1.00 X 0 0 0 JAN SLATTERY TREASURER 1.00 1.00 X X 0 0 0 SHONDELL AYALA DIRECTOR 1.00 1.00 X 0 0 0 RASHMI RANGAN EXECUTIVE DIRECTOR 40.00 20.00 X 90000 0 1220 90000 0 1220 0 0 0 0 0 139136 712867 852003 47835 47835 4200 0 4200 4200 4200 32056 9142 22914 22914 PPP LOAN FORGIVENESS 900099 61433 61433 MISCELLANEOUS 900099 3238 3238 64671 991623 7438 0 132182 105000 105000 91220 80274 10946 301531 265347 36184 2693 2370 323 30632 26956 3676 175 175 11325 10810 515 63445 59640 3805 12489 11740 749 15455 14527 928 11651 10951 700 4531 4260 271 31595 29700 1895 17453 16407 1046 TELECOMMUNICATIONS 26351 24769 1582 UTILITIES 6777 6372 405 MISCELLANEOUS 6262 5885 377 TELEVISION 2175 2045 130 740760 677053 63707 0 183097 739786 8064 937291 681920 5849 5849 718249 170272 574754 547977 14341 14283 1723396 1989815 9378 3532 21202 0 200 9378 24934 X 1590685 1681548 123333 283333 1714018 1964881 1723396 1989815 250863 0 X 0 1 X 1 0 X 815641 727804 579353 826068 852003 3800869 61433 61433 815641 727804 579353 826068 913436 3862302 1020827 2841475 178 1643 693 3287 47835 53636 51931 21618 45205 26112 26152 171018 4086956 0.69530 0.68760 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 0 0 0 0 PART II-B, LINE 1: THE EXECUTIVE DIRECTOR HAS BEEN ENGAGED IN ADVOCACY, COMMENTING TO REGULATORS ON COMMUNITY REINVESTMENT ACT, SPECIFICALLY SMALL BUSINESS DATA DISCLOSURE. IN ADDITION TO, BEING INVOLVED IN RULE MAKING ON ARBITRATION, PAYDAY LENDING, AND MILITARY LENDING AND IN DELAWARE, PARTICIPATED IN ROUND TABLES ON PAYDAY LENDING. APPROXIMATELY, $5,000 IN TIME AND TRAVEL WAS DONATED TO THIS EFFORT. 6500 6500 595104 104216 490888 5036 5036 0 111609 61020 50589 547977 PAYROLL LIABILITIES 200 200 1300765 300000 9142 309142 991623 0 991623 1049902 300000 9142 309142 740760 0 740760 PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 9,142. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 9,142. CELEBRATING CRA 32056 32056 9142 32056 32056 9142 9142 22914 1 STEPPING STONES COMMUNITY FEDERAL CREDIT UNION 603 NORTH CHURCH ST WILMINGTON DE 19801 453643816 501(C)(1) 105000 0 FMV ADMINISTRATIVE ASSISTANCE, OFFICE SPACE 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. 0 1 PART I, LINE 2: CONTRIBUTIONS TO STEPPING STONES COMMUNITY FEDERAL CREDIT UNION ARE USED AS CAPITAL TO ENABLE IT TO LOAN FUNDS TO CLIENTS IN FURTHERANCE OF BOTH DCRAC AND STEPPING STONES' MISSIONS. X MORTGAGE RECEIVABLE 1 140129 PROCEEDS RECEIVED 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY A CERTIFIED PUBLIC ACCOUNTING FIRM AND PRESENTED TO THE EXECUTIVE DIRECTOR WHO PERFORMS A DETAILED REVIEW. THE FORM IS THEN MADE AVAILABLE TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C UPON ACCEPTANCE AND ANNUALLY THEREAFTER, BOARD MEMBERS ARE REQUIRED TO EVALUATE THEIR COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY AND REPORT ON ANY POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S SALARY IS EVALUATED ANNUALLY BY THE BOARD. RECOMMENDATIONS FOR INCREASES ARE BASED ON THE BOARD MEMBERS' EXTENSIVE EXPERIENCE WITH OTHER AREA NONPROFIT ORGANIZATIONS AND KNOWLEDGE OF COMPENSATION PRACTICES IN GENERAL. FORM 990, PART VI, SECTION C, LINE 19 DCRAC MAINTAINS COPIES OF ITS FORM 990 AND MOST RECENT AUDITED FINANCIAL STATEMENTS ON ITS WEBSITE WWW.DCRAC.ORG. DCRAC BELIEVES THIS, ALONG WITH THE OTHER INFORMATION ON ITS PROGRAMS AND SERVICES AVAILABLE ON ITS WEBSITE, SHOULD SATISFY MOST LEGITIMATE INQUIRIES. REQUESTS FOR FURTHER INFORMATION WILL BE EVALUATED ON A CASE BY CASE BASIS. DCRAC ECONOMIC DEVELOPMENT FUNDLLC C/O DCRAC 600 S HARRISON ST WILMINGTON DE 19805 832868587 RECEIVING PROCEEDS FROM DONATED LOANS DE 187358 930610 DELAWARE COMMUNITY REINVESTMENT ACTION COUNCIL INC STEPPING STONES COMMUNITY FEDERAL CREDIT UNION C/O DCRAC 603 N CHURCH ST WILMINGTON DE 19801 453643816 CREDIT UNION PROVIDING FINANCIAL SERVICES TO UNDERSERVED POPULATIONS. DE 501(C)(1) 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 STEPPING STONES FCU B 105000 CASH STEPPING STONES FCU N 0 NOT READILY AVAILABLE STEPPING STONES FCU O 0 NOT READILY AVAILABLE