Access To Capital For Entrepreneurs Inc
Cleveland, GA
What do they do?
This organization provides small business loans and business training to help people start and grow their businesses. They focus on helping underserved communities, including low-income individuals, people of color, and women entrepreneurs get access to capital and business support they might not get from traditional banks.
Their mission:
"To provide community economic development to underserved people and communities. ACE is a non-profit organization that provides loans and business development resources to help its borrowers create and grow sustainable businesses which generate jobs."
💵 Money In vs. Money Out (2023)
Money they received
$27.0 million
Money they spent
$13.7 million
✅ They had money left over. They received $13.3 million more than they spent.
📥 Where did the money come from? (2023)
| Source | Amount | % |
|---|---|---|
| 🎁 Donations & Gifts | $18.4 million | 68% |
| 🏢 Money earned from services | $7.1 million | 26% |
| 📈 Money earned from investments | $1.4 million | 5% |
| Total | $27.0 million | 100% |
📤 Where did the money go? (2023)
| What it paid for | Amount | % |
|---|---|---|
| 🎯 The actual mission (programs & services) | $7.1 million | 52% |
| 👷 Employee paychecks | $3.4 million | 25% |
| 👔 Boss paychecks (executives) | $757K | 6% |
| 🏛️ Payroll taxes (paid to government) | $272K | 2% |
| Total spent | $13.7 million | 100% |
👥 Who runs this organization? (2023)
| Name | Job Title | Paid |
|---|---|---|
| Grace C Fricks | President and CEO/Board Member | $384,591 |
| Joshua Brackett | CFO | $181,900 |
| Eric Swilling | Director of Lending | $169,161 |
| Ray Pennie | Chief of Business Advisory | $165,251 |
| Martina Edwards | Chief of Strategic Partnerships | $160,767 |
🏦 What do they own vs. what do they owe? (2023)
| 💰 Total stuff they own (assets) | $121.2 million |
| 💳 Total they owe (debts) | $67.6 million |
| 📊 What's left (net worth) | $53.6 million |
🎯 What programs do they run?
Their main program is lending - they provide loans to small businesses and offer business development resources to help borrowers succeed. In 2022, they had expenses of $4.8 million for this program and brought in $4.3 million in lending program income.
⚠️ Things you might want to know
The CEO's compensation of $384,591 is quite high for a nonprofit of this size, representing about 5.5% of total expenses. However, their fundraising costs are very reasonable at only 3% of total expenses, and they're generating significant program revenue from their lending activities, which shows they're not entirely dependent on donations.
📄 Where did we get this info?
This comes from the IRS Form 990 that Access To Capital For Entrepreneurs Inc filed for the year 2023. Every nonprofit has to tell the government how they spent their money, and that info is public.
👉 See the original tax form yourself →Data from ProPublica Nonprofit Explorer. Plain English summaries created with AI and reviewed for accuracy.