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Nonprofit · EIN 51-0345258

TRUE ACCESS CAPITAL CORPORATION

Tax-exempt · WILMINGTON, DE 19801

Financials

$3.8M$3.4M2023$4.6M$3.8M2024
Revenue Expenses · by fiscal year end
Financials of TRUE ACCESS CAPITAL CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$4,611,925$3,764,504$847,421$25,632,139$14,088,039$11,544,100
December 31, 2023990$3,780,450$3,391,054$389,396$24,398,779$13,702,100$10,696,679
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$2,608,781
of which government grants
$1,188,000
Program service revenue
$1,889,980
Investment income
$159,895
Net income from fundraising events
-$46,731
Other revenue
-$46,731

Expenses

Grants and similar amounts paid
$149,600
Compensation of officers, directors and key employees
$206,039
Other salaries and wages
$1,161,525
Salaries, compensation and benefits (total)
$1,567,202
Professional fundraising fees
$0
Legal fees
$43,714
Accounting fees
$44,793
Occupancy
$45,239
Travel
$21,794
Depreciation
$10,907
Program services (functional)
$3,353,755
Management and general (functional)
$372,581
Fundraising (functional)
$38,168

Balance sheet and other

Total assets, start of year
$24,398,779
Total assets, end of year
$25,632,139
Total liabilities, end of year
$14,088,039
Net assets, end of year
$11,544,100
Land, buildings and equipment
$39,475
Net assets without donor restrictions
$3,822,659
Net assets with donor restrictions
$7,721,441
Gross receipts
$4,670,432
Employees
17
Volunteers
0
Year formed
1992
State of legal domicile
DE

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
VANDELL HAMPTON JRPRESIDENT & CEO
Officer
37.5$185,116$20,923
LORENZO MERINOSVP, DIRECTOR OF LENDING
Highest-paid employee
37.5$123,330$7,924
PAUL B HUGHES IIICHAIR
Trustee or director, Officer
1$0$0
RACHAEL MEARSTREASURER
Trustee or director, Officer
1$0$0
PEDRO VIERA JRBOARD MEMBER
Trustee or director
1$0$0
JUDITH M SCARBOROUGH CPA CVA CFFVICE CHAIR
Trustee or director, Officer
1$0$0
SHERYL SCANLON EDDBOARD MEMBER
Trustee or director
1$0$0
EMANUEL V DESHIELDSBOARD MEMBER
Trustee or director
1$0$0
ROBERT GUNTERBOARD MEMBER
Trustee or director
1$0$0
BARRY L LOTTBOARD MEMBER
Trustee or director
1$0$0
RON KIMBROUGHBOARD MEMBER
Trustee or director
1$0$0
DERRICK ROBINSONBOARD MEMBER
Trustee or director
1$0$0
JUSTIN POSERBOARD MEMBER
Trustee or director
1$0$0
TANYA WILLIAMSONBOARD MEMBER
Trustee or director
1$0$0
RAFAEL ZAHRALDDINBOARD MEMBER
Trustee or director
1$0$0
990 for the year ended December 31, 2023: 15 people
NameTitleHours / weekCompensationOther / benefits
VANDELL HAMPTON JRPRESIDENT & CEO
Officer
37.5$168,666$15,396
LORENZO MERINOSVP, DIRECTOR OF LENDING
Highest-paid employee
37.5$114,850$8,507
PAUL B HUGHES IIICHAIR
Trustee or director, Officer
1$0$0
RACHAEL MEARSTREASURER
Trustee or director, Officer
1$0$0
PEDRO VIERA JRBOARD MEMBER
Trustee or director
1$0$0
JUDITH M SCARBOROUGH CPA CVA CFFVICE CHAIR
Trustee or director, Officer
1$0$0
SHERYL SCANLON EDDBOARD MEMBER
Trustee or director
1$0$0
EMANUEL V DESHIELDSBOARD MEMBER
Trustee or director
1$0$0
ROBERT GUNTERBOARD MEMBER
Trustee or director
1$0$0
BARRY L LOTTBOARD MEMBER
Trustee or director
1$0$0
RON KIMBROUGHBOARD MEMBER
Trustee or director
1$0$0
DERRICK ROBINSONBOARD MEMBER
Trustee or director
1$0$0
JUSTIN POSERBOARD MEMBER
Trustee or director
1$0$0
TANYA WILLIAMSONBOARD MEMBER
Trustee or director
1$0$0
RAFAEL ZAHRALDDINBOARD MEMBER
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
100 WEST 10TH ST, WILMINGTON, DE 19801-6603
Principal officer (990 for 2024)
VANDELL HAMPTON JR, 100 WEST 10TH STREET 300, WILMINGTON, DE 19801
Signed the 990
VANDELL HAMPTON JR, PRESIDENT & CEO
Phone
(302) 652-6774
Return prepared by
BELFINT LYONS & SHUMAN PA

Mission

BUILDING A THRIVING COMMUNITY BY EMPOWERING A DIVERSE BASE OF ENTREPRENEURS AND BUSINESSES THROUGH ACCESS TO CAPITAL, EDUCATION, ADVOCACY AND OPPORTUNITY.

990 for the year ended December 31, 2024

Program accomplishments

  • DURING 2024, TRUE ACCESS CAPITAL CORPORATION MADE NEW LOANS AS FOLLOWS: MICRO LOAN FUND - $320,300, BUSINESS GROWTH FUND - $1,077,900, COMMUNITY FACILITY FUND - $598,900, COMMERCIAL REAL ESTATE FUND - $3,096,600. 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 AND SOUTHEASTERN PENNSYLVANIA. TACC HAS TWO PRIMARY SMALL BUSINESS LENDING PROGRAMS - THE MICRO LOAN FUND AND THE BUSINESS GROWTH FUND. THE COMMERCIAL REAL ESTATE AND COMMUNITY FACILITY FUND FOCUSES ON PROVIDING CAPITAL FOR COMMUNITY-BASED PROJECTS, SUCH AS MIXED-USE PROPERTIES (RESIDENTIAL & RETAIL), 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.
    Expenses $3,353,755 · grants $149,600 · revenue $1,890,098

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
51-0345258
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1993
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$25,632,139
Income (IRS master file)
$4,670,432

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$4,611,925$3,764,504$25,632,139XML
990December 2023$3,780,450$3,391,054$24,398,779XML
990December 2022$3,143,323$3,510,503$22,058,882IRS
990December 2021–––IRS
990December 2020–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 51-0345258).

Questions about TRUE ACCESS CAPITAL CORPORATION

What is the EIN of TRUE ACCESS CAPITAL CORPORATION?
The employer identification number (EIN) of TRUE ACCESS CAPITAL CORPORATION is 51-0345258.
Is TRUE ACCESS CAPITAL CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1993.
Are donations to TRUE ACCESS CAPITAL CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does TRUE ACCESS CAPITAL CORPORATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of TRUE ACCESS CAPITAL CORPORATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did TRUE ACCESS CAPITAL CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of TRUE ACCESS CAPITAL CORPORATION?
The 990 for the year ended December 31, 2024 names VANDELL HAMPTON JR.
Who are the officers and directors of TRUE ACCESS CAPITAL CORPORATION?
The 990 for the year ended December 31, 2024 lists 15 people; 2 received compensation from the organization, the highest $185,116 (VANDELL HAMPTON JR, PRESIDENT & CEO).
How much revenue does TRUE ACCESS CAPITAL CORPORATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $4,611,925, expenses of $3,764,504 and total assets of $25,632,139 at year end.

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