2018-11-29T15:42:45-06:00 2018-06-30 510232475 COVER & ROSSITER PA 2711 CENTERVILLE ROAD SUITE 100 WILMINGTON DE 19808 990 2017-07-01 510329119 DELAWARE COMMUNITY REINVESTMENT ACTION COUNCIL INC DELA 3022983250 600 SOUTH HARRISON STREET WILMINGTON DE 19805 MS RASHMI RANGAN EXECUTIVE DIRECTOR 3022983250 2018-11-28 1 PETER KENNEDY P00571422 3026566632 2018-11-28 65.222.158.10 2018-11-28 10:18:59 ES P 0CA0F16ABD5887E6D1E8C6F2C753AE8911DDC3DB 5720A08F1F5A97EB3E84050B759873CEA389B7D9 2017 2019-02-21 02:37:17Z MS RASHMI RANGAN 600 SOUTH HARRISON STREET WILMINGTON DE 19805 625886 0 X WWW.DCRAC.ORG X 1987 DE THE MISSION OF THE DELAWARE COMMUNITY REINVESTMENT ACTION COUNCIL IS ROOTED IN EQUALITY, ECONOMIC EMPOWERMENT, AND EDUCATION. 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. OUR SUCCESS MEASURES INCLUDE HELPING FAMILIES SAVE THREE MONTHS OF THEIR INCOME, BUILD A LADDER OF CREDIT TO ESCAPE DEBT TRAPS, REDUCE THE HOMEOWNERSHIP GAP BETWEEN BLACK AND WHITE HOMEOWNERS BY CREATING NEW HOMEOWNERS AND PREVENTING FORECLOSURES, AND WE FIGHT FOR EQUAL ACCESS TO ECONOMIC OPPORTUNITIES. 9 9 9 7 0 0 717205 579353 0 0 -31492 1328 26651 35705 712364 616386 70000 40000 0 0 388222 412140 0 0 7484 157643 216257 615865 668397 96499 -52011 938215 870435 25786 10017 912429 860418 X SINCE 1987, DELAWARE COMMUNITY REINVESTMENT ACTION COUNCIL (DCRAC) HAS SERVED THE COMMUNITY AS A STRONG CONSUMER ADVOCATE, EFFECTIVE EDUCATOR OF CONSUMER FINANCE, FORECLOSURE PREVENTION PROFESSIONAL, TITLE & TAX ATTORNEYS, AND AS A BANKER. DCRAC'S MISSION IS TO ENSURE EQUITABLE TREATMENT AND EQUAL ACCESS TO CREDIT AND CAPITAL THROUGH ADVOCACY, EDUCATION, LEGISLATION AND OUTREACH. DCRAC'S PURPOSE: 1) BUILD A POOL OF QUALIFIED BORROWERS OF FINANCIAL PRODUCTS AND SERVICES2) BUILD THE CAPACITY OF FINANCIAL INSTITUTIONS TO OFFER PRODUCTS AND SERVICES 0 0 136761 0 0 LOW INCOME 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. 176278 40000 0 ECONOMIC JUSTICE PROGRAM: WE WORK AT THE STATE AND FEDERAL LEVEL TO PREVENT PASSING BAD LAWS, SYSTEMATIC 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. WITH SAVINGS ACCOUNTS, DIRECT DEPOSITS, AND SURCHARGE FREE ATMS, WE ARE MEETING A BASIC PROMISE TO THE FINANCIALLY EXCLUDED AND OFFERING AN ALTERNATIVE: "DON'T PAY TO GET PAID". 153248 0 0 HOUSING CLINIC: WE HELP FAMILIES PREVENT WEALTH-STRIPPING EFFORTS SUCH AS FORECLOSURES, WAGE ATTACHMENTS, JUDGMENTS, ETC. THROUGH COUNSELING SERVICES. SINCE 2004, WE HAVE HELPED MORE THAN 1,000 FAMILIES PREVENT FORECLOSURE AND SINCE 2016, WE HAVE HELPED 70 FAMILIES BECOME FIRST-TIME HOMEOWNERS AND 20 HOMEOWNERS OBTAIN TITLE TO THEIR HOME. 132642 0 0 CREDIT CLINIC: WE EMPOWER FAMILIES THAT FEEL LOCKED IN POVERTY TO OVERCOME ECONOMIC CHALLENGES (INABILITY TO SAVE, INADEQUATE ACCESS TO FINANCIAL SERVICES, ETC.) THROUGH TAILORED COUNSELING AND COACHING. WE HELP THEM BUILD WEALTH THROUGH BUDGETING, CREDIT BUILDING AND REPAIR, AND ACCESS TO BANKING. SINCE 1995, WE HAVE HELPED MORE THAN 1,000 THROUGHOUT DELAWARE SAVE MORE THAN THREE MONTHS' INCOME AND MORE THAN 6,000 FAMILIES BUILD CREDIT. 132642 0 0 598929 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 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 0 1 0 0 0 1 5 0 1 9 0 0 0 0 0 0 1 1 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 RASHMI RANGAN EXECUTIVE DIRECTOR 40.00 20.00 X 87068 0 0 VINCENT LOFINK DIRECTOR 1.00 1.00 X 0 0 0 AUSTIN EDISON DIRECTOR (EX-OFFICIO) 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 DIRECTOR 1.00 1.00 X 0 0 0 SHONDELL AYALA DIRECTOR 1.00 1.00 X 0 0 0 87068 0 0 0 0 0 0 0 440 137110 441803 579353 693 693 635 0 635 635 635 45200 9500 35700 35700 MISCELLANEOUS 900099 5 5 5 616386 5 0 37028 40000 40000 87068 78230 8838 295307 258260 37047 29765 26193 3572 62 58 4 11067 10403 664 18632 17514 1118 15702 14761 941 34260 32206 2054 49519 46547 2972 21998 20677 1321 3476 3267 209 33900 31866 2034 7823 7353 470 OTHER MISCELLANEOUS 14868 6941 443 7484 TELEVISION PROGRAMMING 4950 4653 297 668397 598929 61984 7484 298757 187070 7440 63833 728209 122716 618537 605493 13481 14039 938215 870435 25786 10017 25786 10017 X 912429 860418 912429 860418 938215 870435 -52011 0 X 0 1 X 1 0 X 591623 473587 815641 727804 579353 3188008 591623 473587 815641 727804 579353 3188008 963878 2224130 1844 3088 178 1643 693 7446 30063 43038 51931 21618 45205 191855 3387309 0.65660 0.70820 X 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 586336 78612 507724 5036 5036 0 130337 39068 91269 605493 925886 300000 300000 625886 -9500 -9500 616386 977897 300000 9500 309500 668397 0 668397 PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES -9,500. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 9,500. CELEBRATING CRA 45000 45000 9000 500 FUN RAISER 200 200 45200 45200 9000 500 9500 35700 1 STEPPING STONES COMMUNITY FEDERAL CREDIT UNION 603 NORTH CHURCH ST WILMINGTON DE 19801 453643816 501(C)(1) 40000 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. 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. 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 40000 CASH STEPPING STONES FCU N NOT READILY AVAILABLE STEPPING STONES FCU O NOT READILY AVAILABLE