Overview
What is Delaware Community Reinvestment Action Council Inc?
Delaware Community Reinvestment Action Council Inc, based in Wilmington, Delaware, is a nonprofit organization dedicated to advocating for equitable treatment and equal access to credit and capital for all. With a deep understanding of the challenges faced by Delaware's underserved community, which is multilingual, economically disadvantaged, and largely minority, DCRAC's mission is to address barriers to the racial wealth divide. Since 2003, they have provided free legal services to over 1,000 low-income taxpayers, helping them resolve their tax debts with both the state and the IRS, under the Internal Revenue Service Restructuring and Reform Act of 1998. In times of economic crisis, such as the S&L/Gulf War Crisis of 1990, the DOT.COM/911 Crisis of 2001, and the 2008 market crash, DCRAC has pivoted and adapted to new realities, serving a community that often struggles to access resources, capabilities, and institutional support to improve their economic standing. With a team of 7 employees, DCRAC strives to bridge the racial wealth divide and ensure fair treatment for all in Delaware.
Official website here: www.dcrac.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100%
Delaware Community Reinvestment Action Council Inc has achieved an impressive Four-Star out of Four Star rating, reflecting its commitment to transparency and effective financial management. The charity scores a perfect 100% in both Accountability & Finance and Culture & Community, demonstrating strong operational practices and a robust governance structure with a fully independent board of eight members.
The organization excels in several areas, including an outstanding program expense ratio of 93.70%, indicating that the majority of its resources are dedicated to its mission-driven programs. It also exhibits excellent policies regarding conflict of interest, whistleblower protections, and document retention, all of which contribute to its high score in accountability. The organization has reported implementing 14 Equity Practices, showcasing its commitment to equity and community engagement.
While the rating highlights significant strengths, the summary does not mention any specific limitations or challenges faced by the organization. Overall, the Delaware Community Reinvestment Action Council Inc stands out as a well-managed nonprofit dedicated to its community goals.
This AI summary has been generated from information found on Charity Navigator.
Is Delaware Community Reinvestment Action Council Inc legitimate?
Delaware Community Reinvestment Action Council Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Delaware Community Reinvestment Action Council Inc 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: $94,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $381,510
For more financial information, click here
Official website here: www.dcrac.org
What is the mission statement of Delaware Community Reinvestment Action Council Inc?
The Delaware Community Reinvestment Action Council Inc's mission is centered around ensuring equitable treatment and equal access to credit and capital for all, emphasizing their commitment to diversity, equity, and inclusion. As a 25-year-old organization, led predominantly by an immigrant, Asian-American woman of color, they have a deep understanding of the challenges faced by Delaware's underserved community, which is multilingual, economically disenfranchised, and largely minority. Their purpose is to address barriers contributing to the racial wealth divide, leaving the average American family of color with significantly less wealth compared to their white counterparts. The organization has faced numerous economic crises throughout its 34-year history, including the S&L/Gulf War crisis of 1990, the Dot.com/911 crisis of 2001, and the 2008 market crash. Adapting to new realities and serving a community lacking access to resources, capabilities, and institutional support to move up the economic ladder with ease is second nature to them.
Official website here: www.dcrac.org
Who is the CEO of Delaware Community Reinvestment Action Council Inc?
Ms Rashmi Rangan is the Chair of Delaware Community Reinvestment Action Council Inc.
Official website here: www.dcrac.org
What is the revenue of Delaware Community Reinvestment Action Council Inc?
Delaware Community Reinvestment Action Council Inc's revenue in 2023 was $944,161.
Official website here: www.dcrac.org
Who are the executives of Delaware Community Reinvestment Action Council Inc and what are their salaries?
The average compensation at Delaware Community Reinvestment Action Council Inc during 2023 was $68,001. There are 7 employees and 12 volunteers at Delaware Community Reinvestment Action Council Inc.
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- Compensation: $94,500
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Official website here: www.dcrac.org
Where can I find the form 990 for Delaware Community Reinvestment Action Council Inc?
Delaware Community Reinvestment Action Council Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.dcrac.org
Learn more at the official website: www.dcrac.org
Mission Statement of Delaware Community Reinvestment Action Council Inc
Delaware Community Reinvestment Action Council, Inc., a nonprofit organization led by an immigrant, Asian-American woman of color for 25 years, is committed to ensuring equitable treatment and equal access to credit and capital for all. The council recognizes the challenges faced by Delaware's underserved community, which is multilingual, economically disenfranchised, and largely minority. With a mission deeply rooted in diversity, equity, and inclusion, DCRAC aims to address the barriers to the racial wealth divide that leave an average American family of color with only 16 cents for every dollar owned by the average white family.
DCRAC's purpose is to bridge this gap, understanding that economic crises, such as the S&L/Gulf War Crisis of 1990, the Dot.com/911 Crisis of 2001, and the 2008 Market Crash, disproportionately impact black and brown communities. The council's ability to pivot and adjust to new realities is a testament to its resilience and adaptability. Serving a community that lacks easy access to resources, capabilities, and institutional supports to move up the economic ladder, DCRAC is dedicated to leveling the playing field and promoting equitable opportunities for all.
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Impact
July, 2024
DCRAC's impact is significant in ensuring equitable treatment and equal access to credit and capital for all individuals, particularly those from underserved and economically disenfranchised communities. By providing free legal services through their Tax Clinic, DCRAC has helped over 1,000 low-income taxpayers in Delaware resolve their tax debts with the state and the IRS since 2003. Led by an immigrant, Asian-American woman of color for 25 years, DCRAC understands the challenges facing Delaware's diverse and economically disadvantaged community, striving to address barriers to the racial wealth divide. In a world where economic crises disproportionately affect black and brown communities, DCRAC has continuously pivoted and adjusted to new realities, serving as a vital resource for those facing financial hardship. Through their dedicated efforts, DCRAC plays a crucial role in advancing community improvement and promoting economic equality in Delaware.
This information is meant to be a general summary of Delaware Community Reinvestment Action Council Inc. 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 2023.
- Investment Income: $27,739
- Gross Receipts: $952,160
Assets and Liabilities:
- Total Assets: $2,504,428
- Total Liabilities: $6,558
- Net Assets: $2,497,870
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Organization Details
Founding Year
1987
Phone
(302) 298-3250Principal Officer
Ms Rashmi Rangan
Main Address
600 SOUTH HARRISON ST, WILMINGTON, DE, 19805
Website
www.dcrac.orgNTEE Category
Code: S20Z - Community improvement
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