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Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2024
Total Revenue
▼$4.6M
Program Spending
89%
of total expenses go to program services
Total Contributions
$2.6M
Total Expenses
▼$3.8M
Total Assets
$25.6M
Total Liabilities
▼$14.1M
Net Assets
$11.5M
Officer Compensation
→$206K
Other Salaries
$1.2M
Investment Income
$159.9K
Fundraising
▼$11.8K
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$9.8M
Awards Found
44
Department of the Treasury
$1.4M
PURPOSE: TO PROVIDE GRANTS TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) FOR THE FOLLOWING PURPOSES 1) TO EXPAND LENDING, GRANT MAKING AND INVESTMENT ACTIVITIES IN LOW OR MODERATE INCOME COMMUNITIES AND TO BORROWERS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC; AND 2) TO ENABLE CDFIS TO BUILD ORGANIZATIONAL CAPACITY AND ACQUIRE TECHNOLOGY, STAFF, AND OTHER TOOLS NECESSARY TO ACCOMPLISH THE ACTIVITIES UNDER A CDFI ERP AWARD. PLANNED ACTIVITIES: ELIGIBLE ACTIVITIES INCLUDE FINANCIAL PRODUCTS, FINANCIAL SERVICES, DEVELOPMENT SERVICES, GRANTS, LOAN LOSS RESERVES AND CAPITAL RESERVES THAT MAY BE USED TO MITIGATE THE IMPACT OF THE COVID 19 PANDEMIC ON UNEMPLOYMENT, CHILDCARE, HEALTHCARE, MENTAL HEALTHCARE, AFFORDABLE HOUSING, AFFORDABLE HOUSING FINANCE, SMALL BUSINESS, SMALL FARMS, BROADBAND INTERNET, AND FOOD SUFFICIENCY. IN ADDITION, TO SUPPORT CDFIS IN BUILDING THEIR CAPACITY TO RESPOND TO THE ECONOMIC IMPACT OF COVID 19, CDFI ERP AWARDS MAY BE USED FOR COMPENSATION PERSONAL SERVICES; COMPENSATION FRINGE BENEFITS; PROFESSIONAL SERVICE COSTS; TRAVEL COSTS; TRAINING AND EDUCATION COSTS; EQUIPMENT; SUPPLIES. END GOALS: EXPANDED FINANCING FOR LOW TO MODERATE INCOME COMMUNITIES AND INDIVIDUALS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC INCLUDING SPECIFIC DESIGNATED COVID IMPACTED CDFI ERP ELIGIBLE GEOGRAPHIES AS AREAS THAT MAY BENEFIT FROM CDFI ERP ASSISTANCE. BENEFICIARIES: CERTIFIED CDFIS WHICH MAY BE FOR PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, AND OTHER PRIVATE INSTITUTION/ORGANIZATION, AS DEFINED IN 12 C.F.R. 1805, AND LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.
Department of the Treasury
$800K
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Small Business Administration
$589.2K
WOMEN S BUSINESS OWNERSHIP ASSISTANCE (INITIAL)
Small Business Administration
$300K
WOMEN'S BUSINESS OWNERSHIP ASSISTANCE-RENEWAL BASE
Department of Health and Human Services
$250K
ASSETS FOR INDEPENDENCE DEMONSTRATIN PROGRAM
Small Business Administration
$181K
FY 23 CONGRESSIONAL COMMUNITY PROJECT TRUE CAPITAL ACCESS
Small Business Administration
$178K
TRUE ACCESS CAPITAL CORPORATION - FY 24 CONGRESSIONAL COMMUNITY PROJECT
Small Business Administration
$150K
DE - TRUE ACCESS CAPITAL CORPORATION
Small Business Administration
$150K
FIRST STATE COMMUNITY LOAN FUND - RENEWAL BASE YEAR R-2022
Small Business Administration
$132.9K
TRUE ACCESS CAPITAL CORPORATION FKA FIRST, DE TO ASSIST ALL ENTREPRENEURS BUSINESS OWNERS AND OTHER INDIVIDUALS POSSESSING THE CAPABILITY TO OPERATE SUCCESSFUL BUSINESS CONCERNS AND TO ASSIST SMALL BUSINESS CONCERNS IN THOSE AREAS SUFFERING FROM A LACK OF CREDIT DUE TO ECONOMIC DOWNTURNS UNDER THE PROGRAM THE SMALL BUSINESS ADMINISTRATION SBA WILL MAKE LOANS OR PROVIDE GUARANTIES TO PRIVATE NON PROFIT AND QUASI GOVERNMENTAL ORGANIZATIONS INTERMEDIARY LENDERS THAT WILL USE THE LOAN FUNDS TO MAKE SHORT TERM FIXED INTEREST RATE MICROLOANS IN AMOUNTS UP TO 50000 DOLLARS TO START UP NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS THESE MICROLOANS ARE TO BE USED EXCLUSIVELY FOR WORKING CAPITAL INVENTORY SUPPLIES FURNITURE FIXTURES MACHINERY AND OR EQUIPMENT IN ADDITION THE SBA WILL MAKE GRANTS TO PARTICIPATING INTERMEDIARY LENDERS TO PROVIDE MARKETING MANAGEMENT AND TECHNICAL ASSISTANCE TO PROSPECTIVE BORROWERS AND BORROWERS RECEIVING MICROLOANS UNDER THE PROGRAM SBA WILL ALSO PROVIDE TRAINING FOR INTERMEDIA
Department of Agriculture
$105K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Health and Human Services
$105K
ASSETS FOR INDEPENDANCE DEMONSTRATION PROJECT (IDA)
Small Business Administration
$103.9K
TRAINING AND TECHNICAL ASSISTANCE TO SBA MICROLOAN BORROWERS AND PROSPECTIVE BORROWERS
Small Business Administration
$95K
WOMEN'S BUSINESS OWNERSHIP ASSISTANCE - CARES ACT
Small Business Administration
$90K
TRUE ACCESS CAPITAL CORP. FKA FIRST STATE COMM LOAN FUND
Small Business Administration
$82.4K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$73.8K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$60.5K
FIRST STATE COMMUNITY LOAN FUND - DE TO PROVIDE TRAINING AND TECHNICAL ASSISTANCE TO MICROLOAN BORROWERS.
Small Business Administration
$55K
MICROLOAN PROGRAM TECHNICAL ASSISTANCE
Department of Agriculture
$53.8K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Small Business Administration
$52.6K
MICROLOAN PROGRAM ? TECHNICAL ASSISTANCE
Department of Agriculture
$47.7K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Department of Agriculture
$42.3K
SEC. 6022 RMAP-RURAL MICRO ASSISTANCE GRANTS (DISC)
Small Business Administration
$41.7K
MICROLOAN TECHNICAL ASSISTANCE PROGRAM
Department of Agriculture
$36.7K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$31.8K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Small Business Administration
$29.9K
MICROLOAN TECHNICAL ASSISTANCE PROGRAM
Department of Agriculture
$28.4K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$25.2K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$24.8K
SEC. 6022 RMAP-RURAL MICRO ASSISTANCE GRANTS (DISC)
Department of Agriculture
$12K
SEC. 6022 RMAP-RURAL MICRO ASSISTANCE GRANTS (DISC)
Department of Agriculture
$10.1K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Department of Agriculture
$7,858
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
9
Clean Audits
8
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2024 | Clean | Unmodified (Clean) | $4.3M | Yes | 2025-09-26 |
| 2023 | Minor Findings | Unmodified (Clean) | $4.1M | Yes | 2024-09-12 |
| 2022 | Clean | Unmodified (Clean) | $5M | Yes | 2023-08-28 |
| 2021 | Clean | Unmodified (Clean) | $6M | Yes | 2022-07-13 |
| 2020 | Clean | Unmodified (Clean) | $4.3M | Yes | 2021-09-23 |
| 2019 | Clean | Unmodified (Clean) | $5.8M | Yes | 2020-09-13 |
| 2018 | Clean | Unmodified (Clean) | $5.5M | Yes | 2019-06-03 |
| 2017 | Clean | Unmodified (Clean) | $4.2M | Yes | 2018-05-28 |
| 2016 | Clean | Unmodified (Clean) | $1.7M | Yes | 2017-07-23 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$5.8M
Financial Report
Unmodified (Clean)
Federal Expenditure
$5.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.2M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.7M
Tax Year 2024 · Source: IRS e-Filed Form 990
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2024IRS e-File | $4.6M | $2.6M | $3.8M | $25.6M | $11.5M |
| 2023 | $3.8M | $2.3M | $3.4M | $24.4M | $10.7M |
| 2022 | $3.1M | $1.7M | $3.5M | $22.1M | $10.3M |
| 2021 | $8.3M | $7M | $2.6M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | PDF not yet published by IRSView Filing → |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2024)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Vandell Hampton Jr | President & CEO | 37.5 | $185.1K | $0 | $20.9K | $206K |
| Judith M Scarborough Cpa Cva Cff | Vice Chair | 1 | $0 | $0 | $0 | $0 |
| Paul B Hughes Iii | Chair | 1 | $0 | $0 | $0 | $0 |
| Rachael Mears | Treasurer | 1 | $0 | $0 | $0 | $0 |
Vandell Hampton Jr
President & CEO
$206K
Hrs/Wk
37.5
Compensation
$185.1K
Related Orgs
$0
Other
$20.9K
Judith M Scarborough Cpa Cva Cff
Vice Chair
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Paul B Hughes Iii
Chair
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Rachael Mears
Treasurer
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Lorenzo Merino | Svp, Director Of Lending | 37.5 | $123.3K | $0 | $7,924 | $131.3K |
Lorenzo Merino
Svp, Director Of Lending
$131.3K
Hrs/Wk
37.5
Compensation
$123.3K
Related Orgs
$0
Other
$7,924
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Barry L Lott | Board Member | 1 | $0 | $0 | $0 | $0 |
| Derrick Robinson | Board Member | 1 | $0 | $0 | $0 | $0 |
| Emanuel V Deshields | Board Member | 1 | $0 | $0 | $0 | $0 |
| Justin Poser | Board Member | 1 | $0 | $0 | $0 | $0 |
| Pedro Viera Jr | Board Member | 1 | $0 | $0 | $0 | $0 |
| Rafael Zahralddin | Board Member |
Barry L Lott
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Derrick Robinson
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Emanuel V Deshields
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $20.2M |
| $10.7M |
| 2020 | $4M | $2.9M | $2.8M | $14.5M | $5M |
| 2019 | $2.2M | $1.2M | $1.9M | $11.6M | $3.7M |
| 2018 | $2.6M | $1.7M | $2M | $11.7M | $3.5M |
| 2017 | $1.8M | $1M | $1.8M | $10M | $2.8M |
| 2016 | $1.5M | $721.4K | $1.5M | $9M | $2.8M |
| 2015 | $1.1M | $327.2K | $1.2M | $7.9M | $2.8M |
| 2014 | $1.3M | $833.4K | $994.8K | $7.5M | $2.9M |
| 2013 | $815.8K | $494.2K | $1.4M | $6.6M | $2.6M |
| 2012 | $770.2K | $377.6K | $1.1M | $6.9M | $3.2M |
| 2011 | $956.6K | $381.8K | $1.2M | $7.5M | $3.5M |
| 2021 | 990 | Data |
| 2020 | 990 | Data | PDF not yet published by IRS |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| 1 |
| $0 |
| $0 |
| $0 |
| $0 |
| Robert Gunter | Board Member | 1 | $0 | $0 | $0 | $0 |
| Ron Kimbrough | Board Member | 1 | $0 | $0 | $0 | $0 |
| Sheryl Scanlon Edd | Board Member | 1 | $0 | $0 | $0 | $0 |
| Tanya Williamson | Board Member | 1 | $0 | $0 | $0 | $0 |
Justin Poser
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Pedro Viera Jr
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Rafael Zahralddin
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Robert Gunter
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Ron Kimbrough
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Sheryl Scanlon Edd
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Tanya Williamson
Board Member
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0