Delaware Community Reinvestment Action Council Inc

Nonprofit profile at a glance

EIN
510329119
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Wilmington, DE, USA
Phone
3022983250
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$900,419
Expenses
$1,719,427
Assets
$1,466,942
Liabilities
$13,121

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • RASHMI RANGAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • RASHMI RANGAN (EXECUTIVE DIRECTOR): $133,120 total reported compensation
  • JACLYN QUINN (DEPUTY DIRECTOR): $131,040 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Founded to realize the promise of a community-centric financial system, dcrac provides low- and no-cost services that enable delawareans to untangle and take charge of their financial lives.we integrate legal and financial services with community education and advocacy so that low- to modest-wealth clients can secure their own financial futures and thrive within mainstream banking and legal systems. We proudly work with community members to serve their needs, ensuring everyone who walks through our doors has the necessary services, resources, and knowledge to access credit, capital, and legal support. In Delaware, we're also the only group making sure that banks around which our state economy is built give back to the communityand we've been doing that since 1987.all our work transforms the financial lives of our clients through targeted outreach, customized education, tailored products, and strategic legal care to preserve the wealth we help our families create.

What it reported doing in 2024

The money school: most adults need to manage financial matters better, but not everyone gets the same education growing up. With free classes taught by volunteer professionals, we equip delawareans with the skills to budget, save and invest, so they can achieve financial stability.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 61% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.8%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -91%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 15.4%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 10% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 10.3% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.8% of spending went to programs
  • Governance: 10 of 10 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $133K · 12 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 1/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.