Overview
What is Delaware Community Investment Corp?
Delaware Community Investment Corp, also known as Cinnaire Corporation, is a nonprofit organization stationed in Wilmington, Delaware. Their primary mission is to serve as a catalyst for community revitalization by offering financial assistance and investments in affordable housing, community economic development, and related activities. By aggregating and coordinating the use of public resources, they aim to improve and expand community development within the Eastern region of the United States. This involves directly financing and investing in projects that cater to the needs of low-income individuals and areas, thereby promoting economic growth and improved living conditions.
Official website here: www.cinnaire.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
The Delaware Community Investment Corporation has achieved a high rating of 96% from Charity Navigator, reflecting strong performance in Accountability & Finance. The organization scored particularly well in areas such as independent board membership and financial oversight, indicating a robust governance structure that supports transparency and ethical management.
Strengths highlighted include a high program expense ratio of 93.07%, suggesting that a significant portion of their funds is directed towards their mission-driven initiatives rather than administrative costs. Additionally, the charity has implemented essential policies, including conflict of interest and whistleblower policies, which further enhance its accountability and operational integrity.
While the charity showcases an impressive track record in financial management, the summary does not indicate any notable limitations or challenges faced by the organization. Overall, the high score reflects a well-structured and financially responsible nonprofit dedicated to its community investment goals.
This AI summary has been generated from information found on Charity Navigator.
Is Delaware Community Investment Corp legitimate?
Delaware Community Investment Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Delaware Community Investment Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.cinnaire.com
What is the mission statement of Delaware Community Investment Corp?
Delaware Community Investment Corp serves as a tool for community revitalization by directly engaging in financing and investments for community development. Their mission is to address the needs of low-income individuals and areas, focusing on housing, economic development, and related activities. They aim to aggregate and coordinate the use of public resources to enhance and expand community development across the Eastern region of the United States, ultimately improving overall community well-being.
Official website here: www.cinnaire.com
Who is the CEO of Delaware Community Investment Corp?
Brett Oumedian is the Director of Delaware Community Investment Corp.
Official website here: www.cinnaire.com
What is the revenue of Delaware Community Investment Corp?
Delaware Community Investment Corp's revenue in 2022 was $1,085,788.
Official website here: www.cinnaire.com
Who are the executives of Delaware Community Investment Corp and what are their salaries?
There 1 volunteer at Delaware Community Investment Corp.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $308,176
- Other: $40,149
- Compensation: $0
- Related: $220,353
- Other: $35,446
- Compensation: $0
- Related: $99,150
- Other: $40,516
- Compensation: $0
- Related: $408,478
- Other: $40,516
- Compensation: $0
- Related: $253,529
- Other: $32,047
- Compensation: $0
- Related: $984,197
- Other: $42,252
- Compensation: $0
- Related: $358,935
- Other: $40,516
- Compensation: $0
- Related: $343,890
- Other: $42,603
Official website here: www.cinnaire.com
Where can I find the form 990 for Delaware Community Investment Corp?
Delaware Community Investment Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cinnaire.com
Learn more at the official website: www.cinnaire.com
Mission Statement of Delaware Community Investment Corp
Delaware Community Investment Corp, abbreviated as DCI Corp, serves as a catalyst for community revitalization. Its mission is to take direct action by financing and investing in housing, community economic development, and related activities aimed at addressing the needs of low-income individuals and areas. The organization operates as a vehicle to aggregate and coordinate the use of public resources, working towards the improvement and expansion of community development across the Eastern region of the United States. By doing so, DCI Corp seeks to contribute significantly to the betterment of low-income communities and individuals, thereby promoting overall socio-economic growth.
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Impact
October, 2024
Delaware Community Investment Corp plays a crucial role in fostering community development and revitalization through targeted lending and investment initiatives. By providing essential services to affordable housing providers, the organization facilitates the creation and preservation of safe, affordable housing options for low-income individuals and families.
Its mission focuses on enhancing community and economic development opportunities, particularly in under-resourced areas. Through strategic financing and investment, Delaware Community Investment Corp addresses the needs of low-income populations, promoting sustainable growth and stability in communities throughout the Eastern United States. This approach not only improves housing availability but also strengthens local economies by aggregating and coordinating public resources to optimize their impact.
Overall, Delaware Community Investment Corp serves as a vital catalyst for positive change, directly contributing to the improvement of living conditions and economic prospects for vulnerable populations in the regions it serves.
This information is meant to be a general summary of Delaware Community Investment Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $369,695
- Program Service Revenue: $716,093
- Gross Receipts: $1,085,788
Assets and Liabilities:
- Total Assets: $9,444,693
- Total Liabilities: $1,234,028
- Net Assets: $8,210,665
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST REVENUE
Revenue
$414,599
LENDING FEES
Revenue
$301,494
Organization Details
Founding Year
1994
Phone
(302) 655-1420Principal Officer
Brett Oumedian
Main Address
100 WEST 10TH STREET 302, WILMINGTON, DE, 19801
Website
www.cinnaire.comNTEE Category
Code: L200 - Housing
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