True Access Capital Corporation

Analysis

True Access Capital Corporation is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in March 1993, 33 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, True Access Capital Corporation reported income of $3.8m and spending of $3.4m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $3.8m (+75%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 107%. Over the whole period it spent 66% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, True Access Capital Corporation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within DE. Charities of a similar size with the same main cause include Catholic Charities of South Carolina ($3.8m), Special Education Center of Hawaii ($3.8m) and Forum for the Future US Inc ($3.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $184k (5.4% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $24.4m against liabilities of $13.7m, net assets of $10.7m. It reported 19 employees.