2020-07-10T09:36:37-05:00 2019-12-31 510232399 BELFINT LYONS & SHUMAN PA 1011 CENTRE RD STE 310 WILMINGTON DE 19805 990 2019-01-01 510345258 TRUE ACCESS CAPITAL CORPORATION TRUE 3026526774 100 WEST 10TH STREET NO 300 WILMINGTON DE 19801 VANDELL HAMPTON JR PRESIDENT & CEO 3026526774 2020-05-19 1 JONATHAN D MOLL CPA P01053700 3022250600 2020-05-19 50.233.99.242 2020-05-19 13:23:43 ED P 9D6A0AA9AD0C69CA180B50212C2FF2E26251759C F33F5C37592A9792D6118D2AB2B8A918A06738D1 2019 2021-01-29 14:40:06Z VANDELL HAMPTON JR 100 WEST 10TH STREET NO 300 WILMINGTON DE 19801 4012059 0 X WWW.FIRSTSTATELOAN.ORG X 1992 DE TO PROVIDE CREATIVE OPPORTUNITIES FOR ACCESS TO CAPITAL FOR SMALL BUSINESSES, COMMUNITY ORGANIZATIONS, AND DEVELOPERS OF AFFORDABLE HOUSING. 14 14 12 7 0 0 1677968 1207509 938450 898182 38023 98365 -10974 -37717 2643467 2166339 244000 275000 0 0 869304 837779 0 0 41062 882990 820204 1996294 1932983 647173 233356 11694441 11567842 8205808 7845853 3488633 3721989 X TRUE ACCESS CAPITAL CORPORATION'S (TACC) MISSION IS TO EDUCATE, EMPOWER, AND ELEVATE BUSINESS OWNERS, AND ENTREPRENEURS, BY AUGMENTING TECHNICAL EXPERTISE, INCREASING ACCESS TO CAPITAL AND STIMULATING BUSINESS GROWTH THROUGHOUT DELAWARE AND SOUTHEASTERN PENNSYLVANIA. 0 0 1810032 275000 990895 DURING 2019, TRUE ACCESS CAPITAL CORPORATION MADE NEW LOANS AS FOLLOWS: MICRO LOAN FUND - $420,000, BUSINESS GROWTH FUND - $2,267,000, COMMUNITY DEVELOPMENT LOAN FUND - $889,000. 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. 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 & RETIAL), 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. 1810032 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 86 0 1 12 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 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 JAMES JARRELL CHAIR 1.00 X X 0 0 0 PAUL B HUGHES III VICE CHAIR 1.00 X X 0 0 0 MARGO J REIGN TREASURER 1.00 X X 0 0 0 RACHAEL MEARS BOARD MEMBER 1.00 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 SCARBOROUGH BOARD MEMBER 1.00 X 0 0 0 LOTTIE LEE DAVIS BOARD MEMBER 1.00 X 0 0 0 JONATHAN KLASS BOARD MEMBER 1.00 X 0 0 0 THOMAS HANSON JR ESQ SECRETARY 1.00 X X 0 0 0 MATTHEW KATTLER CFA BOARD MEMBER 1.00 X 0 0 0 SHERRY SCANLON BOARD MEMBER 1.00 X 0 0 0 GLORIA DIODATO BOARD MEMBER 1.00 X 0 0 0 RICHARD E CAMPBELL SR BOARD MEMBER 1.00 X 0 0 0 VANDELL HAMPTON JR PRESIDENT & CEO 37.50 X 128538 0 15517 128538 0 15517 1 0 0 0 0 18975 714500 474034 1207509 INTEREST ON LOAN 522100 522979 522979 CONTRACTUAL INCOME 522100 242542 242542 LOAN FEES 522100 81699 81699 PROGRAM REVENUE 522100 47547 47547 RECOVERY INCOME 522100 3415 3415 898182 5992 5992 1914449 1822076 92373 92373 92373 4925 18975 23644 -18719 -18719 MISCELLANEOUS 900099 340 340 EQUITY IN EARNINGS 531120 -19338 -19338 -18998 2166339 990895 0 -32065 X 275000 275000 144055 133288 6014 4753 571245 544857 24053 2335 67083 61432 5245 406 55396 53056 1829 511 14629 12112 1429 1088 28024 25929 1170 925 297355 257345 12025 27985 8487 7757 730 15622 13088 2534 24148 23156 807 185 38613 27268 11345 26230 23185 1947 1098 22584 22150 200 234 241767 241767 1650 1527 69 54 13447 12713 410 324 LOAN FEES 25669 25669 PROVISION FOR LOAN LOSS 18256 18256 TELEPHONE 13469 9153 4316 PRINTING 11033 8540 2493 19221 12784 6003 434 1932983 1810032 81889 41062 2830048 2674616 866371 1880347 698092 199496 6888721 6131427 18266 34792 239441 47966 6496 191475 324958 305668 61489 150021 11694441 11567842 109026 106555 220 5926 16555 8090636 7660311 0 62432 8205808 7845853 X 1369177 1517345 2119456 2204644 3488633 3721989 11694441 11567842 233356 0 X 0 1 X 1 1 1 X 327162 721357 1030050 1677968 1207509 4964046 327162 721357 1030050 1677968 1207509 4964046 1654767 3309279 6472 9469 4688 -13204 -13346 -5921 350 1568 736 4825 340 7819 4965944 4162384 0.66640 0.62110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 186629 186629 39262 39262 0 13550 8704 4846 191475 PARTICIPATION BALANCE DUE TO DEDA 62432 62432 X 2194724 4741 23644 28385 2166339 0 2166339 1961368 4741 23644 28385 1932983 0 1932983 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 AND CELEBRATION 23900 18975 4925 182 8950 14512 23900 18975 4925 182 8950 14512 23644 -18719 1 ARTISTRY 34 LLC 3 E 4TH ST WILMINGTON DE 19801 832605831 25000 BOOK THE CORRIDOR REVITALIZATION FUND (CRF) IS EXPECTED TO SERVE AS A CATALYST TO ENCOURAGE ECONOMIC REVITALIZATION ON THE MARKET STREET CORRIDOR, FACILITATE DEVELOPMENT, AND CONTRIBUTE TO A VIBRANT COMMUNITY WITH RETAIL, ENTERTAINMENT AND FOOD SERVICE ESTABLISHMENTS. MARKET STREET BURRITOS LLC 837 N MARKET ST WILMINGTON DE 19801 833552563 25000 BOOK THE CORRIDOR REVITALIZATION FUND (CRF) IS EXPECTED TO SERVE AS A CATALYST TO ENCOURAGE ECONOMIC REVITALIZATION ON THE MARKET STREET CORRIDOR, FACILITATE DEVELOPMENT, AND CONTRIBUTE TO A VIBRANT COMMUNITY WITH RETAIL, ENTERTAINMENT AND FOOD SERVICE ESTABLISHMENTS. N9ORANGE LLC DBA SAVOY TAKE OUT 909 N ORANGE ST WILMINGTON DE 19801 814039627 25000 BOOK THE CORRIDOR REVITALIZATION FUND (CRF) IS EXPECTED TO SERVE AS A CATALYST TO ENCOURAGE ECONOMIC REVITALIZATION ON THE MARKET STREET CORRIDOR, FACILITATE DEVELOPMENT, AND CONTRIBUTE TO A VIBRANT COMMUNITY WITH RETAIL, ENTERTAINMENT AND FOOD SERVICE ESTABLISHMENTS. GREEN BOX KITCHEN LLC 400 N MARKET ST WILMINGTON DE 19801 833252581 25000 BOOK THE CORRIDOR REVITALIZATION FUND (CRF) IS EXPECTED TO SERVE AS A CATALYST TO ENCOURAGE ECONOMIC REVITALIZATION ON THE MARKET STREET CORRIDOR, FACILITATE DEVELOPMENT, AND CONTRIBUTE TO A VIBRANT COMMUNITY WITH RETAIL, ENTERTAINMENT AND FOOD SERVICE ESTABLISHMENTS. EAT CLEAN JUICE BAR LLC 225 N MARKET ST WILMINGTON DE 19801 824545437 25000 BOOK THE CORRIDOR REVITALIZATION FUND (CRF) IS EXPECTED TO SERVE AS A CATALYST TO ENCOURAGE ECONOMIC REVITALIZATION ON THE MARKET STREET CORRIDOR, FACILITATE DEVELOPMENT, AND CONTRIBUTE TO A VIBRANT COMMUNITY WITH RETAIL, ENTERTAINMENT AND FOOD SERVICE ESTABLISHMENTS. BELLA NOIRE INC 300 W 9TH ST WILMINGTON DE 19801 830987444 25000 BOOK THE CORRIDOR REVITALIZATION FUND (CRF) IS EXPECTED TO SERVE AS A CATALYST TO ENCOURAGE ECONOMIC REVITALIZATION ON THE MARKET STREET CORRIDOR, FACILITATE DEVELOPMENT, AND CONTRIBUTE TO A VIBRANT COMMUNITY WITH RETAIL, ENTERTAINMENT AND FOOD SERVICE ESTABLISHMENTS. COTTAGE INDUSTRY LLC DBA MERCHANT BAR 421 N MARKET ST WILMINGTON DE 19801 460705550 25000 BOOK THE CORRIDOR REVITALIZATION FUND (CRF) IS EXPECTED TO SERVE AS A CATALYST TO ENCOURAGE ECONOMIC REVITALIZATION ON THE MARKET STREET CORRIDOR, FACILITATE DEVELOPMENT, AND CONTRIBUTE TO A VIBRANT COMMUNITY WITH RETAIL, ENTERTAINMENT AND FOOD SERVICE ESTABLISHMENTS. CAVANAUGH'S INC 703 N MARKET ST WILMINGTON DE 19801 510311010 25000 BOOK THE CORRIDOR REVITALIZATION FUND (CRF) IS EXPECTED TO SERVE AS A CATALYST TO ENCOURAGE ECONOMIC REVITALIZATION ON THE MARKET STREET CORRIDOR, FACILITATE DEVELOPMENT, AND CONTRIBUTE TO A VIBRANT COMMUNITY WITH RETAIL, ENTERTAINMENT AND FOOD SERVICE ESTABLISHMENTS. THE WARNER 927 LLC 1203 N ORANGE ST WILMINGTON DE 19801 820915458 25000 BOOK THE CORRIDOR REVITALIZATION FUND (CRF) IS EXPECTED TO SERVE AS A CATALYST TO ENCOURAGE ECONOMIC REVITALIZATION ON THE MARKET STREET CORRIDOR, FACILITATE DEVELOPMENT, AND CONTRIBUTE TO A VIBRANT COMMUNITY WITH RETAIL, ENTERTAINMENT AND FOOD SERVICE ESTABLISHMENTS. 216 9TH RETAIL LLC 216 W 9TH ST WILMINGTON DE 19801 831564342 50000 BOOK THE CORRIDOR REVITALIZATION FUND (CRF) IS EXPECTED TO SERVE AS A CATALYST TO ENCOURAGE ECONOMIC REVITALIZATION ON THE MARKET STREET CORRIDOR, FACILITATE DEVELOPMENT, AND CONTRIBUTE TO A VIBRANT COMMUNITY WITH RETAIL, ENTERTAINMENT AND FOOD SERVICE ESTABLISHMENTS. 0 10 PART I, LINE 2: GRANTS AWARDED BY THE ORGANIZATION ARE DISBURSED DIRECTLY BY THE ORGANIZATION TO THE GRANTEES' VENDORS FOR SERVICES AND GOODS UNDER THE GRANT AGREEMENT. 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 WAS DEVELOPED BY THE BOARD OF DIRECTORS FOR DETERMINING THE PRESIDENT & CEO'S SALARY. TACC ALSO HAS ACCESS TO A COMPENSATION STUDY THAT WAS PUBLISHED BY THE OPPORTUNITY FINANCE NETWORK IN 2014. THE OPPORTUNITY FINANCE NETWORK ANALYZED THE CDFI INDUSTRY COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING FEES: PROGRAM SERVICE EXPENSES 257,345. MANAGEMENT AND GENERAL EXPENSES 12,025. FUNDRAISING EXPENSES 27,985. TOTAL EXPENSES 297,355. TRUE ACCESS HOLDINGS LLC 100 WEST 10TH STREET WILMINGTON DE 19801 843695184 HOLD AND RENT REPOSSESSED REAL ESTATE DE 0 186629 TRUE ACCESS CAPITAL CORPORATION FSCLF HOLDING LLC 100 W 10TH STREET SUITE 300 WILMINGTON DE 19801 453833176 REAL ESTATE MANAGEMENT DE -19338 257201 0 1 0.50000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0