2023-06-23T15:49:53-05:00 2022-12-31 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2022-01-01 582383669 ACCESS TO CAPITAL FOR ENTREPRENEURS INC ACCE 6783355600 3173 HIGHWAY 129N CLEVELAND GA 30528 GRACE C FRICKS PRESIDENT AND CEO 6783355600 2023-06-23 1 GRACE FRICKS XXX-XX-XXXX 1 MARY JO ALEXANDER P00002534 7709558600 2023-05-24 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z GRACE C FRICKS 3173 HIGHWAY 129N CLEVELAND GA 30528 13820713 0 X WWW.ACELOANS.ORG X 1998 GA TO PROVIDE ACCESS TO CAPITAL, EDUCATION AND BUSINESS DEVELOPMENT RESOURCES TO NEW AND EXISTING SMALL, MICRO, OR ENVIRONMENTALLY SUSTAINABLE BUSINESSES. 12 11 38 54 0 0 5600393 9259677 5320240 4329297 92607 231739 0 0 11013240 13820713 100000 60000 0 0 2948307 3903362 0 0 208626 2347378 3057659 5395685 7021021 5617555 6799692 88796114 106342633 55259839 66034185 33536275 40308448 X SEE SCHEDULE OTHE MISSION OF ACCESS TO CAPITAL FOR ENTREPRENEURS, INC. (ACE) IS 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. 0 0 4776794 60000 4329297 ACCESS TO CAPITAL FOR ENTREPRENEURS, INC. (ACE) IS A NONPROFIT ORGANIZATION THAT PROVIDES LOANS TO START AND GROW BUSINESSES. ACE OFFERS ITS BORROWERS BUSINESS DEVELOPMENT RESOURCES TO CREATE FINANCIALLY AND ENVIRONMENTALLY SUSTAINABLE BUSINESSES. IN 2004, THE U.S DEPARTMENT OF TREASURY CERTIFIED ACE AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) TO PROVIDE ACCESS TO CAPITAL FOR UNDERSERVED MARKETS INCLUDING LOW INCOME INDIVIDUALS, PEOPLE OF COLOR, AND WOMEN. IN ITS TWENTY-THREE YEAR HISTORY, ACE HAS CREATED OR MAINTAINED MORE THAN 19,000 JOBS AND HELPED MORE THAN 2,400 SMALL BUSINESSES START OR EXPAND THEIR OPERATIONS. ACE DERIVES ITS INCOME FROM LOAN INTEREST INCOME, GRANTS, AND DONATIONS. 4776794 1 1 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 45 0 1 38 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X BOB GALLAGHER 6783355600 3173 HIGHWAY 129 N CLEVELAND GA 30528 GRACE C FRICKS PRESIDENT AND CEO/BOARD MEMBER 40.00 X X 370878 0 13713 JOSHUA BRACKETT CFO 40.00 X 175346 0 6554 ERIC SWILLING DIRECTOR OF LENDING 40.00 X 163046 0 6115 RAY PENNIE CHIEF OF BUSINESS ADVISORY 40.00 X 153681 0 11570 MARTINA EDWARDS CHIEF OF STRATEGIC PARTNERSHIPS 40.00 X 155807 0 4960 SANDRA HEADLEY VP 40.00 X 146453 0 6575 SHANON STEWART CHIEF CREDIT OFFICER 40.00 X 126211 0 4835 MATT BOZZELLI BOARD CHAIR 0.00 X X 0 0 0 SIBYL SLADE SECRETARY 0.00 X X 0 0 0 GRACE LOPEZ-WILLIAMS TREASURER & FINANCE COMMITTEE CHAIR 0.00 X X 0 0 0 DALE ROYAL LOAN COMMITTEE CHAIR 0.00 X 0 0 0 COURTNEY SMITH BOARD MEMBER 0.00 X 0 0 0 GRACE WEBSTER BOARD MEMBER 0.00 X 0 0 0 ELOISA KLEMENTICH BOARD MEMBER 0.00 X 0 0 0 BILL ZAWROTNY BOARD MEMBER 0.00 X 0 0 0 AVERY TUCKER-FONTAINE BOARD MEMBER 0.00 X 0 0 0 LYNN THOGERSEN BOARD MEMBER 0.00 X 0 0 0 MARY KEPLER BOARD MEMBER 0.00 X 0 0 0 CANDY MOORE BOARD MEMBER 0.00 X 0 0 0 HOLLIS LINGINFLETER BOARD MEMBER 0.00 X 0 0 0 MIQUEL ALANDETE BOARD MEMBER 0.00 X 0 0 0 1291422 0 54322 7 0 1 0 THE CRM FIRM 3261 TRAVER DR BROOMFIELD CO 80023 SALESFORCE SUPPORT 174950 1 5024269 4235408 9259677 LENDING PROGRAM INCOME 522100 4329297 4329297 4329297 231739 231739 13820713 4329297 0 231739 X 60000 60000 566191 141548 424643 2702541 1835221 712314 155006 83712 48375 31899 3438 324114 291661 8799 23654 226804 146878 69036 10890 202595 202595 39067 39067 71500 2014 69486 708653 567479 141174 23281 9846 13435 70709 49737 20323 649 347147 65428 281719 91877 34487 57390 60978 31647 28608 723 58937 23205 21466 14266 1007550 969288 38262 15487 8346 7141 51272 51272 CLOSING EXPENSES 228780 228780 COLLECTION/RECOVERY 18303 18303 DUES AND MEMBERSHIPS 15558 6273 9285 PUBLICATIONS AND SUBSCR 1234 309 925 44731 35374 9357 7021021 4776794 2035601 208626 5916936 2110612 32238016 39954218 2074040 2697751 24688 11365 44346091 59829437 76067 70136 81037 48718 38462 32319 103758 75665 46700 53200 3931356 1507930 88796114 106342633 261710 513223 4430282 11442247 7095046 1615556 9297073 7424755 18415728 31278404 15760000 13760000 55259839 66034185 X 30493346 31777566 3042929 8530882 33536275 40308448 88796114 106342633 6799692 -27519 0 X X 0 1 X 1 1 1 X 2299359 5602263 12400170 5600393 9259677 35161862 15104 14770 10770 11000 12000 63644 2314463 5617033 12410940 5611393 9271677 35225506 4803886 30421620 36804 64731 54334 92607 231739 480215 35705721 20566744 0.85200 0.83170 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 0 1 71500 71500 0 PART II-B, LINE 1: MISSION LENDERS WORKING GROUP ($4,234) GOVERNMENT RELATION SERVICES ($63,503) LEGISLATIVE AND SUPPORT SERVICES ($3,763) 0 7095046 411763 5891253 1615556 1 X 81037 48718 32319 32319 EQUITY EQUIVALENT LIABILITIES 9260000 INVESTMENT BOND PAYABLE 4500000 13760000 X 14063973 -27519 270779 243260 13820713 0 13820713 7291800 270779 270779 7021021 0 7021021 PART IV, LINE 2B: FROM TIME TO TIME, ACE ACTS AS AGENT ON BEHALF OF OTHER ORGANIZATIONS, WHICH INCLUDE THE GOIZUETA BUSINESS SCHOOL AT GWINNETT AND DEKALB COUNTIES. ACE COLLECTS CASH FUNDS FROM SERVICING THESE LOAN PORTFOLIOS THAT ARE OWNED BY THE OTHER ORGANIZATIONS NOTED ABOVE. PART X, LINE 2: MANAGEMENT EVALUATED ACE'S TAX POSITIONS AND CONCLUDED THAT ACE HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISION ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. X X X 0 0 0 0 0 0 0 1 0 GRACE C FRICKS PRESIDENT AND CEO/BOARD MEMBER 370878 0 0 0 0 0 10601 0 3112 0 384591 0 0 0 JOSHUA BRACKETT CFO 171046 0 4000 0 300 0 4990 0 1564 0 181900 0 0 0 ERIC SWILLING DIRECTOR OF LENDING 158746 0 4000 0 300 0 4737 0 1378 0 169161 0 0 0 RAY PENNIE CHIEF OF BUSINESS ADVISORY 148381 0 5000 0 300 0 9017 0 2553 0 165251 0 0 0 MARTINA EDWARDS CHIEF OF STRATEGIC PARTNERSHIPS 147507 0 8000 0 300 0 3438 0 1522 0 160767 0 0 0 SANDRA HEADLEY VP 131995 0 14000 0 458 0 4293 0 2282 0 153028 0 0 0 PART I, LINE 7 THE FOLLOWING EMPLOYEES RECEIVED DISCRETIONARY BONUSES: JOSHUA BRACKETT $4,000 SANDRA HEADLEY $14,000 RAY PENNIE $5,000 MARTINA EDWARDS $8,000 ERIC SWILLING $4,000 SHANON STEWART $6,000 FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE REVIEWED BY THE AUDIT/FINANCE COMMITTEE AND THEN SUBMITTED TO FULL BOARD FOR REVIEW AT THE NEXT BOARD MEETING PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST IS A WRITTEN POLICY INCLUDED IN THE COMPANY POLICY AND IS MONITORED BY THE CEO AND BOARD OF DIRECTORS. ACE REQUIRES THAT EACH EMPLOYEE SIGN A CONFLICT OF INTEREST AGREEMENT WHEN HIRED AND NOTIFY ACE WHEN A POSSIBLE CONFLICT ARISES. FORM 990, PART VI, SECTION B, LINE 15 THE SALARY OF THE PRESIDENT/CEO IS REVIEWED BY THE BOARD COMPENSATION COMMITTEE. AS PART OF THIS REVIEW, SALARIES OF OTHER SIMILAR ORGANIZATIONS ARE USED. SALARIES AND CONTRACTS CONCERNING KEY EMPLOYEES ARE REVIEWED AS PART OF PREPARING THE ORGANIZATIONS BUDGET WHICH THE BOARD REVIEWS AND DISCUSSES. FORM 990, PART VI, SECTION C, LINE 19 THE ENTITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST BY TELEPHONE OR IN WRITING. FORM 990, PART IX, LINE 11G HUMAN RESOURCES: PROGRAM SERVICE EXPENSES 1,881. MANAGEMENT AND GENERAL EXPENSES 59,558. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 61,439. BUSINESS ADVISORY: PROGRAM SERVICE EXPENSES 199,121. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 199,121. LENDING: PROGRAM SERVICE EXPENSES 170,929. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 170,929. WBC: PROGRAM SERVICE EXPENSES 17,988. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,988. PAYROLL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 360. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 360. MARKETING, PLANNING AND SUSTAINABILITY STUDY: PROGRAM SERVICE EXPENSES 177,560. MANAGEMENT AND GENERAL EXPENSES 81,256. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 258,816. FORM 990 PART XI, LINE 2C THE ORGANIZATION MAINTAINED THE SAME AUDITOR AS THE PRIOR YEAR, AND THE OVERSIGHT PROCESS HAS NOT CHANGED.