ACCESS TO CAPITAL FOR ENTREPRENEURS INC Charity Report

Public IRS 990 nonprofit record

ACCESS TO CAPITAL FOR ENTREPRENEURS INC

EIN 58-2383669 · Economic Development (S30)

What they do

SEE SCHEDULE OACCESS to CAPITAL for ENTREPRENEURS, INC. (ACE), is A NONPROFIT ORGANIZATION THAT PROVIDES LOANS to START and GROW BUSINESSES. ACE is THE LARGEST GEORGIA-BASED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) FOCUSED ON SMALL BUSINESSES. FOUNDED IN 2000 WITH A $50,000 GRANT to SERVE FOUR NORTH GEORGIA COUNTIES, ACE WAS CERTIFIED AS A CDFI IN 2004. ACE HAS SIGNIFICANTLY EXPANDED ITS REACH and IMPACT OVER THE YEARS, WITH OFFICES IN ATLANTA, TIFTON SOUTHWEST GEORGIA)AND CLEVELAND (NORTH GEORGIA), ALONG WITH WOMENS BUSINESS CENTERS IN NORCROSS (METRO-ATLANTA) and SAVANNAH. ACES MISSION is to HELP SMALL BUSINESSES GROW BY REMOVING BARRIERS to ACCESSING CAPITAL. ACE OFFERS ITS BORROWERS BUSINESS DEVELOPMENT RESOURCES to CREATE FINANCIALLY and ENVIRONMENTALLY SUSTAINABLE BUSINESSES. SINCE ITS INCEPTION, ACE HAS PROVIDED OVER $246 MILLION IN LOANS to 2,800 SMALL BUSINESSES, CREATING or RETAINING MORE THAN 22,000 JOBS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $78.70 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders20 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

48.35%of revenue went to mission work78.7% of expenses · Program services

2.75%of revenue went to fundraising4.5% of expenses

$61.45spent for every $100 of revenueRevenue covered expenses this year.

10.35%of revenue went to management and office costs16.8% of expenses

$8.73in assets for every $1 spent this yearSome assets cannot be spent right away.

51.2%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $550,676 for GRACE C FRICKS (PRESIDENT & CEO). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$25,034,907

Mission workProgram services$12,105,31648.35% of revenue78.7% of expenses

ManagementOffice and general costs$2,591,08310.35% of revenue16.8% of expenses

FundraisingAsking for donations$688,5952.75% of revenue4.5% of expenses

Revenue left after expensesReported annual surplus$9,649,91338.55% of revenueShown in gray on the chart

Total expenses$15,384,99461.45% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 78.7% mission · 16.8% management · 4.5% fundraisingTotal expenses: 61.45% of revenue

2023Expense mix: 81.4% mission · 14.0% management · 4.7% fundraisingTotal expenses: 50.87% of revenue

2022Expense mix: 68.0% mission · 29.0% management · 3.0% fundraisingTotal expenses: 50.80% of revenue

2021Expense mix: 67.6% mission · 29.0% management · 3.4% fundraisingTotal expenses: 48.99% of revenue

2020Expense mix: 83.2% mission · 15.0% management · 1.8% fundraisingTotal expenses: 46.10% of revenue

2019Expense mix: 76.1% mission · 21.7% management · 2.2% fundraisingTotal expenses: 62.02% of revenue

2018Expense mix: 76.3% mission · 23.7% management · 0.0% fundraisingTotal expenses: 87.29% of revenue

2017Expense mix: 75.2% mission · 24.7% management · 0.1% fundraisingTotal expenses: 60.45% of revenue

Money in and money out

Revenue$25,034,907

Expenses$15,384,994

Annual surplus $9,649,913 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$12,105,316 · 78.7% of expenses

Management and office costs$2,591,083 · 16.8% of expenses

Fundraising$688,595 · 4.5% of expenses

See all reported dollar amounts

Revenue$25,034,907

Expenses$15,384,994

Assets$134,325,923

Income$25,034,907

Contributions$12,825,287

Mission work (program services)$12,105,316

Fundraising$688,595

Grants given$100,000

Average grant$100,000

Management and general$2,591,083

Executive compensation (total)$771,183

Stocks and bonds$95,967

Accounting fees$93,854

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

GRACE C FRICKSPRESIDENT & CEO · 40 hrs/week $550,676Base $531,104 · Other $19,572

SHANON STEWARTCHIEF CREDIT OFFICER · 40 hrs/week $226,810Base $215,310 · Other $11,500

MARTINA EDWARDSCHIEF OF STRATEGIC PARTNERSHIPS · 40 hrs/week $197,623Base $175,659 · Other $21,964

SANDRA HEADLEYVICE PRESIDENT · 40 hrs/week $183,404Base $176,684 · Other $6,720

RAYNARD CLAYDIRECTOR OF LENDING · 40 hrs/week $175,962Base $169,503 · Other $6,459

RAY PENNIEPRESIDENT OF BUSINESS DEVELOPMENT · 40 hrs/week $174,184Base $169,294 · Other $4,890

BOB GALLAGHERCHIEF FINANCIAL OFFICER · 40 hrs/week $124,275

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (20)

GRACE C FRICKSPRESIDENT & CEO

SHANON STEWARTCHIEF CREDIT OFFICER

MARTINA EDWARDSCHIEF OF STRATEGIC PARTNERSHIPS

SANDRA HEADLEYVICE PRESIDENT

RAYNARD CLAYDIRECTOR OF LENDING

RAY PENNIEPRESIDENT OF BUSINESS DEVELOPMENT

BOB GALLAGHERCHIEF FINANCIAL OFFICER

STEPHANIE MARTINBOARD MEMBER

BILL ZAWROTNYBOARD CHAIR

SIBYL SLADEVICE CHAIR

MIGUEL ALANDETEBOARD MEMBER & LOAN COMMITTEE CHAIR

MATT BOZZELLIIMMEDIATE PAST BOARD CHAIR

MARY KEPLERBOARD MEMBER

MARVIN LIMBOARD MEMBER

HOLLIS LINGINFLETERBOARD MEMBER & INVESTMENT COMM.CHAIR

GRACE LOPEZ-WILLIAMSTREASURER & FINANCE COMMITTEE CHAIR

DALE ROYALSECRETARY

COURTNEY SMITHBOARD MEMBER

CARLOS MATABOARD MEMBER

CANDY MOOREBOARD MEMBER

About this charity

Recognized since: January 1998
Location: 3173 US 129 N, CLEVELAND, GA 30528-0000
County: White
In care of: % GRACE COVINGTON FRICKS PRES
Primary officer: WASSIA KAMON, CFO

How to reach them

WebsiteVisit the charity’s website Emailinfo@aceloans.org Phone(678) 335-5600

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: MAULDIN & JENKINS LLC
NTEE classification: Economic Development (S30)
IRS tax category: Economic Development
Grant-giving organization: Yes