TRUE ACCESS CAPITAL CORPORATION

EIN: 510345258 501(c)(3) Public & Societal Benefit

WILMINGTON, DE

Total Revenue
$4,611,925
Total Expenses
$3,764,504
Total Assets
$25,632,139
Net Assets
$11,544,100
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1992
Legal Domicile
DE
Principal Officer
VANDELL HAMPTON JR
Phone
3026526774
Tax Period
2024-01-01 to 2024-12-31

TRUE ACCESS CAPITAL CORPORATION, founded in 1992, is a community nonprofit in the Public & Societal Benefit sector that reported $4.6M in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $847K, a strong 18% operating margin.

Mission

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

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,608,781
Program Service Revenue $1,889,980
Investment Income $159,895
Other Revenue $-46,731
TOTAL REVENUE $4,611,925

Expense Breakdown

Grants Paid $149,600
Salaries & Benefits $1,567,202
Fundraising Expenses $38,168
Program Expenses $3,353,755
Other Expenses $2,047,702
TOTAL EXPENSES $3,764,504

Year-over-Year Comparison

2024 2023 Change
Revenue $4,611,925 $3,780,450 +0.2%
Expenses $3,764,504 $3,391,054 +0.1%
Net Income $847,421 $389,396 +1.2%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
13
Independent Members
13
Employees
17
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$206,039
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAUL B HUGHES III CHAIR 1.00
Officer Director
$0 $0 $0
RACHAEL MEARS TREASURER 1.00
Officer Director
$0 $0 $0
PEDRO VIERA JR BOARD MEMBER 1.00
Director
$0 $0 $0
JUDITH M SCARBOROUGH CPA CVA CFF VICE CHAIR 1.00
Officer Director
$0 $0 $0
SHERYL SCANLON EDD BOARD MEMBER 1.00
Director
$0 $0 $0
EMANUEL V DESHIELDS BOARD MEMBER 1.00
Director
$0 $0 $0
ROBERT GUNTER BOARD MEMBER 1.00
Director
$0 $0 $0
BARRY L LOTT BOARD MEMBER 1.00
Director
$0 $0 $0
RON KIMBROUGH BOARD MEMBER 1.00
Director
$0 $0 $0
DERRICK ROBINSON BOARD MEMBER 1.00
Director
$0 $0 $0
JUSTIN POSER BOARD MEMBER 1.00
Director
$0 $0 $0
TANYA WILLIAMSON BOARD MEMBER 1.00
Director
$0 $0 $0
RAFAEL ZAHRALDDIN BOARD MEMBER 1.00
Director
$0 $0 $0
VANDELL HAMPTON JR PRESIDENT & CEO 37.50
Officer
$185,116 $20,923 $206,039
LORENZO MERINO SVP, DIRECTOR OF LENDING 37.50
Highest
$123,330 $7,924 $131,254
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $4,611,925 $3,764,504 $25,632,139 $847,421
2023 $3,780,450 $3,391,054 $24,398,779 $389,396
2022 $3,143,323 $3,510,503 $22,058,882 $-367,180
2021 $8,295,807 $2,586,854 $20,176,608 $5,708,953
2020 $4,014,227 $2,770,706 $14,544,564 $1,243,521
2019 $2,166,339 $1,932,983 $11,567,842 $233,356
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