Overview
What is Access To Capital For Entrepreneurs Inc?
Access to Capital for Entrepreneurs, Inc. (ACE) is a nonprofit organization based in Cleveland, Georgia, specifically at 3173 Highway 129N, providing vital financial assistance to start and expand small, micro, or environmentally sustainable businesses. ACE, with 38 employees, is a Community Development Financial Institution (CDFI) certified by the U.S. Department of the Treasury since 2004. Their mission is to foster community economic development by offering loans and essential business development resources to underserved individuals and communities. In its 23-year history, ACE has contributed to the creation or maintenance of over 19,000 jobs and helped more than 2,400 small businesses flourish. ACE generates income through loan interest, grants, and donations.
Official website here: www.aceloans.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 89% (Three-Star out of Four Star rating)
Access To Capital For Entrepreneurs Inc has received a commendable rating of 89%, reflecting strong performance particularly in accountability and finance. The organization boasts an impressive accountability score of 83%, highlighted by its effective oversight mechanisms, including a fully independent board and rigorous financial policies. The high program expense ratio of nearly 75% indicates a significant portion of funds is directed towards program activities, which is a positive sign for donors and stakeholders.
In terms of culture and community, the organization scored 17%, but the feedback from constituents was exceptionally positive, achieving a perfect score in feedback collection and usage. This demonstrates a commitment to engaging with and responding to the community it serves. However, there are opportunities for improvement, particularly in equity strategies and policies, which received lower scores in that area.
Overall, Access To Capital For Entrepreneurs Inc shows a robust framework for financial integrity and community engagement, although attention to equity strategies could enhance its impact further. The organization is well positioned to continue its mission with transparency and accountability.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Access To Capital For Entrepreneurs Inc?
98% of 10 reviewers on Facebook recommend this charity. Here is a summary of their reviews:
Overall, A.C.E. Access to Capital for Entrepreneurs is highly regarded for its positive impact on the community. One reviewer emphasizes its mission of empowering individuals by providing the necessary support and resources to achieve their goals. This sense of purpose and commitment to enhancing growth has resonated with many, indicating that they feel the organization is making a meaningful difference.
The sentiment surrounding Access to Capital for Entrepreneurs is overwhelmingly positive, with users acknowledging the organization's role in accelerating progress and fostering development. The belief that A.C.E. is fulfilling its mission successfully suggests that beneficiaries appreciate the services and guidance provided, further solidifying its reputation in the nonprofit sector.
This AI summary has been generated from reviews found on Facebook.
Is Access To Capital For Entrepreneurs Inc legitimate?
Access To Capital For Entrepreneurs Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Access To Capital For Entrepreneurs Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $566,191
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,702,541
For more financial information, click here
Official website here: www.aceloans.org
What is the mission statement of Access To Capital For Entrepreneurs Inc?
Access to Capital for Entrepreneurs Inc (ACE) is a non-profit organization dedicated to providing underserved individuals and communities with access to capital and business development resources. Their mission is to facilitate the creation and growth of sustainable businesses, leading to job generation. Established in 1998, ACE has been certified as a Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury, allowing it to cater to markets that often face barriers to accessing funding. Over the course of its 23-year history, ACE has helped over 2,400 small businesses start or expand, contributing to the creation or maintenance of more than 19,000 jobs. ACE generates income from loan interest, grants, and donations.
Official website here: www.aceloans.org
Who is the CEO of Access To Capital For Entrepreneurs Inc?
Grace C Fricks is the President And Ceo/Board Member of Access To Capital For Entrepreneurs Inc. The CEO's salary of Access To Capital For Entrepreneurs Inc is $370,878 and their total compensation is $384,591.
Official website here: www.aceloans.org
What is the revenue of Access To Capital For Entrepreneurs Inc?
Access To Capital For Entrepreneurs Inc's revenue in 2022 was $13,820,713.
Official website here: www.aceloans.org
Who are the executives of Access To Capital For Entrepreneurs Inc and what are their salaries?
The average compensation at Access To Capital For Entrepreneurs Inc during 2022 was $86,019. There are 38 employees and 54 volunteers at Access To Capital For Entrepreneurs Inc.
Here are 21 key members and their salaries (Access To Capital For Entrepreneurs Inc's CEO's salary is $370,878 and their total compensation is $384,591):
- Compensation: $370,878
- Related: $0
- Other: $13,713
- Compensation: $175,346
- Related: $0
- Other: $6,554
- Compensation: $163,046
- Related: $0
- Other: $6,115
- Compensation: $153,681
- Related: $0
- Other: $11,570
- Compensation: $155,807
- Related: $0
- Other: $4,960
- Compensation: $146,453
- Related: $0
- Other: $6,575
- Compensation: $126,211
- Related: $0
- Other: $4,835
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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Official website here: www.aceloans.org
Where can I find the form 990 for Access To Capital For Entrepreneurs Inc?
Access To Capital For Entrepreneurs Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aceloans.org
Learn more at the official website: www.aceloans.org
Mission Statement of Access To Capital For Entrepreneurs Inc
Access to Capital for Entrepreneurs Inc, or ACE, is a nonprofit organization dedicated to providing capital and business development resources to new and existing small, micro, and environmentally sustainable businesses. Established in the United States over two decades ago, ACE holds certification as a Community Development Financial Institution (CDFI) by the U.S. Department of Treasury. This accreditation enables ACE to target underserved markets, including low-income individuals, people of color, and women, to create jobs through sustainable business ventures.
In its mission to foster community economic development, ACE offers loans to start and expand businesses. By providing business development resources, ACE empowers its borrowers to create financially and environmentally sustainable enterprises. Through its services, ACE has generated more than 19,000 jobs and assisted over 2,400 small businesses in starting or expanding their operations. ACE derives its income from various sources, including loan interest income, grants, and donations.
ACE's commitment to supporting underserved communities is deeply rooted in its history. Since 1999, ACE has been making a difference by providing essential financial resources and business assistance to help businesses thrive. By doing so, ACE creates opportunities for individuals and communities that might otherwise face significant barriers to economic growth. As a result, ACE's efforts contribute significantly to the creation of sustainable livelihoods and the development of vibrant, diverse communities.
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Impact
October, 2024
Access To Capital For Entrepreneurs Inc (ACE) plays a crucial role in enhancing economic development in underserved communities. By providing loans and business development resources, ACE empowers both new and existing small, micro, and environmentally sustainable businesses to thrive. Since its inception, ACE has successfully created or maintained over 19,000 jobs and assisted more than 2,400 small businesses in starting or expanding their operations.
Certified by the U.S. Department of Treasury as a Community Development Financial Institution (CDFI), ACE focuses on underserved markets, including low-income individuals, people of color, and women. This targeted support addresses systemic barriers to capital access, fostering financial and environmental sustainability among businesses in the community.
Through its efforts, ACE not only drives individual business growth but also contributes to broader community improvement, strengthening the local economy and enhancing the quality of life for residents. Its commitment to fostering sustainable business practices reflects a forward-thinking approach to economic development that prioritizes both financial success and environmental responsibility.
This information is meant to be a general summary of Access To Capital For Entrepreneurs Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $231,739
- Program Service Revenue: $4,329,297
- Gross Receipts: $13,820,713
Assets and Liabilities:
- Total Assets: $106,342,633
- Total Liabilities: $66,034,185
- Net Assets: $40,308,448
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LENDING PROGRAM INCOME
Revenue
$4,329,297
Organization Details
Founding Year
1998
Phone
(678) 335-5600Principal Officer
Grace C Fricks
Main Address
3173 HIGHWAY 129N, CLEVELAND, GA, 30528
Website
www.aceloans.orgNTEE Category
Code: S30 - Community improvement
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