2025-06-11T10:29:44-05:00 2024-12-31 580692043 MAULDIN & JENKINS LLC 200 GALLERIA PKWY SE STE 1700 ATLANTA GA 303395946 990 2024-01-01 582383669 ACCESS TO CAPITAL FOR ENTREPRENEURS INC ACCE 6783355600 3173 HIGHWAY 129N CLEVELAND GA 30528 WASSIA KAMON CFO 6783355600 2025-06-10 1 0 MELISSA SEWARD P02145103 7709558600 2025-06-03 2024 2025-03-06 01:10:19Z MARTINA EDWARDS 3173 HIGHWAY 129N CLEVELAND GA 30528 25034907 0 X WWW.ACELOANS.ORG X 1998 GA TO PROVIDE LOANS TO HELP SMALL BUSINESSES GROW BY REMOVING BARRIERS TO CAPITAL ACCESS. 13 13 45 69 0 0 18448582 12825287 7128634 10096948 1410191 2112672 0 0 26987407 25034907 4000 4000 0 0 5046072 5707150 0 0 688595 8679014 9673844 13729086 15384994 13258321 9649913 121181835 134325923 67595621 71084905 53586214 63241018 X 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 WOMEN'S BUSINESS CENTERS IN NORCROSS (METRO-ATLANTA) AND SAVANNAH. ACE'S 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. 0 0 12105316 4000 10096948 SEE SCHEDULE OACE PROVIDES THE FOLLOWING PROGRAM SERVICES TO SMALL BUSINESSES:--LENDING--ACE IS COMMITTED TO DEPLOYING CAPITAL TO HIGH-POTENTIAL SMALL BUSINESS OWNERS WHO ARE OFTEN OVERLOOKED BY TRADITIONAL FINANCIAL INSTITUTIONS. THROUGH A THOROUGH AND EXPERIENCED REVIEW PROCESS, THESE ENTREPRENEURS DEMONSTRATE STRONG POTENTIAL AND REPRESENT SOUND, MISSION ALIGNED INVESTMENTS. ACE'S TRACK RECORD SHOWS THAT COMBINING CAPITAL WITH COACHING AND CONNECTIONS IS AN EFFECTIVE AND SUSTAINABLE APPROACH TO SUPPORTING SMALL BUSINESS GROWTH. ACE OFFERS SMALLER LOANS THAT MAY NOT BE SUFFICIENTLY PROFITABLE FOR BANKS BUT ARE CRITICALLY IMPORTANT TO MANY EMERGING SMALL BUSINESSES. INDEED, THE ORGANIZATION TYPICALLY PROVIDES LOANS RANGING FROM $15,000 UP TO $1 MILLION. IN CASES WHERE A BUSINESS CANNOT QUALIFY FOR TRADITIONAL FINANCING AND THE PROPOSED PROJECT HAS SIGNIFICANT COMMUNITY IMPACT, ACE CAN FACILITATE ACCESS TO CAPITAL IN EXCESS OF $1 MILLION. ADDITIONALLY, THE SAVE AND SUSTAIN PROGRAM PROVIDES LOW INTEREST LOANS TO BUSINESSES IMPLEMENTING ENERGY-EFFICIENCY IMPROVEMENTS.CREDIT ENHANCEMENTS:TO EXPAND ACCESS TO AFFORDABLE CAPITAL, ACE EMPLOYS INTEREST RATE BUYDOWNS AND LOAN GUARANTEES AS STRATEGIC TOOLS TO SUPPORT SMALL BUSINESS BORROWERS.LOAN GUARANTEES:ACE USES AN IN-HOUSE LOAN GUARANTEE TO DEPLOY CAPITAL TO SMALL BUSINESS OWNERS WHO HAVE LESS NET WORTH AND FEWER ASSETS TO PROVIDE THE EQUITY OR COLLATERAL NEEDED TO SECURE THEIR LOANS. IN THESE CIRCUMSTANCES THE GUARANTEE WILL BACKSTOP THE LOANS AND SERVE AS THE CLIENTS' COLLATERAL.INTEREST RATE BUYDOWNS:ACE UTILIZES INTEREST RATE BUYDOWNS TO REDUCE THE INTEREST RATE OF LOANS TO BUSINESS BORROWERS STRUGGLING TO RECOVER FROM THE ECONOMIC IMPACT OF THE PANDEMIC, INFLATION, AND OTHER ECONOMIC PRESSURES, AND IN NEED OF CAPITAL TO INCREASE SUSTAINABILITY. CONCESSIONARY TERMS MAY BE LOWER INTEREST RATES AND A LONGER PAYBACK PERIOD, SO THE BUSINESSES HAVE MORE CASH TO GROW THEIR BUSINESSES.--SUPPORT SERVICES FOR SMALL BUSINESS OWNERS--ACCESS TO CAPITAL FOR ENTREPRENEURS (ACE) OFFERS COMPREHENSIVE SERVICES DESIGNED TO SUPPORT SMALL BUSINESS OWNERS IN ACHIEVING THEIR ENTREPRENEURIAL GOALS. FOCUSED ON POTENTIAL AND ESTABLISHED BORROWERS, THESE SERVICES ARE INTEGRAL TO ACE'S MISSION OF HELPING SMALL BUSINESSES GROW BY REMOVING BARRIERS TO ACCESSING CAPITAL AND PROVIDING THE NECESSARY TOOLS FOR SUCCESS.KEY SMALL BUSINESS SUPPORT PROGRAMS OFFERED BY ACE INCLUDE:TRAINING AND WORKSHOPS:ACE HOSTS A RANGE OF TRAINING SESSIONS AND WORKSHOPS ON CRITICAL BUSINESS TOPICS, INCLUDING FINANCIAL LITERACY, BUSINESS DEVELOPMENT, MARKETING, AND OPERATIONAL EFFICIENCY. THESE SESSIONS ARE DESIGNED TO GIVE ENTREPRENEURS THE KNOWLEDGE AND SKILLS NEEDED TO MANAGE AND GROW THEIR BUSINESSES EFFECTIVELY.WEBINARS:TO INCREASE ACCESSIBILITY AND REACH A WIDER AUDIENCE, ACE OFFERS WEBINARS ON TIMELY AND RELEVANT BUSINESS TOPICS. THESE VIRTUAL SESSIONS ALLOW ENTREPRENEURS TO LEARN FROM SUBJECT MATTER EXPERTS AND ENGAGE IN DISCUSSIONS WITHOUT LEAVING THEIR HOME OR OFFICE.NETWORKING OPPORTUNITIES:ACE FACILITATES NETWORKING EVENTS THAT BRING ENTREPRENEURS TOGETHER TO SHARE EXPERIENCES, EXCHANGE IDEAS, AND LEARN FROM ONE ANOTHER. THESE OPPORTUNITIES FOSTER COLLABORATION, SUPPORT PEER LEARNING, AND HELP BUILD A STRONG COMMUNITY OF BUSINESS OWNERS.BY PROVIDING HIGH-TOUCH, PERSONALIZED SERVICES, ACE SEEKS TO ENSURE THAT ENTREPRENEURS HAVE ACCESS TO THE COACHING, TRAINING, AND CONNECTIONS THEY NEED TO SUCCEED.--BUSINESS ADVISORY SERVICES--ACE'S BUSINESS ADVISORY SERVICES MODEL IS WIDELY RECOGNIZED AS A LEADING PRACTICE WITHIN THE CDFI ECOSYSTEM, KNOWN FOR ITS CLIENT-CENTERED, DATA-INFORMED, AND IMPACT-DRIVEN APPROACH. AT THE CORE OF THE MODEL IS THE INTENTIONAL DEVELOPMENT OF STRONG PERSONAL RELATIONSHIPS WITH EACH SMALL BUSINESS IN ACE'S PORTFOLIO. THESE TRUSTED CONNECTIONS ENABLE ACE TO PROACTIVELY IDENTIFY AND ADDRESS CHALLENGES, OFTEN BEFORE CLIENTS RECOGNIZE THEM, WHILE TAILORING SUPPORT TO MEET EACH BUSINESS'S PACE, AVAILABILITY, AND LEVEL OF FINANCIAL KNOWLEDGE.ACE'S TEAM OF FINANCIAL ADVISORS BRINGS A DIVERSE RANGE OF EXPERTISE AND COLLABORATES TO DELIVER HIGH-QUALITY, CUSTOMIZED GUIDANCE. THE ORGANIZATION USES A ROBUST SET OF KEY PERFORMANCE INDICATORS (KPIS) TO INFORM STRATEGY AND EVALUATE OUTCOMES, INCLUDING ANNUAL FINANCIAL, REVENUE, AND EMPLOYMENT TRENDS, RISK ASSESSMENTS, CLIENT ENGAGEMENT RATIOS, AND CLIENT CONFIDENCE SURVEYS.SERVICES ARE DELIVERED THROUGH ONE-ON-ONE PROACTIVE COACHING AS WELL AS A RANGE OF INDUSTRY SPECIFIC AND CLIENT-FOCUSED COHORTS. THESE INCLUDE HIGH PERFORMANCE GROUPS (HPG) WITH MENTORING COMPONENTS, STRATEGIC PLANNING & IMPLEMENTATION SESSIONS, THE BOOKKEEPING FOR GROWTH PROGRAM, AND THE RESTAURANT GROWTH PROGRAM. EACH INITIATIVE IS DESIGNED IN DIRECT RESPONSE TO RECURRING CHALLENGES IDENTIFIED BY SMALL BUSINESS CLIENTS. TO ENSURE RELEVANCE AND DEPTH, ACE ALSO ENGAGES SUBJECT MATTER EXPERTS ALIGNED WITH SPECIFIC INDUSTRIES AND BUSINESS NEEDS.THE BUSINESS ADVISORY SERVICES MODEL EXEMPLIFIES ACE'S DELIBERATE BLEND OF EMPATHY, STRATEGIC INSIGHT, AND ACCOUNTABILITY, ENSURING THAT SMALL BUSINESSES RECEIVE NOT ONLY EFFECTIVE SUPPORT BUT ALSO ACHIEVE SUSTAINABLE, LONG-TERM GROWTH.--WOMEN'S BUSINESS CENTERS--ACE OPERATES TWO WOMEN'S BUSINESS CENTERS (WBCS) THAT PLAY A CRUCIAL ROLE IN SUPPORTING ENTREPRENEURS ACROSS GEORGIA. FUNDED IN PART THROUGH A COOPERATIVE AGREEMENT WITH THE U.S. SMALL BUSINESS ADMINISTRATION, THESE CENTERS ARE DESIGNED TO PROVIDE COMPREHENSIVE RESOURCES, COACHING, AND TRAINING TO HELP ENTREPRENEURS START, GROW, AND SUSTAIN THEIR BUSINESSES.LAUNCHED IN 2015, THE ACE WOMEN'S BUSINESS CENTER SERVING METRO-ATLANTA HAS SUPPORTED MORE THAN 18,000 CLIENTS, TRAINED OVER 16,000 INDIVIDUALS, AND DELIVERED MORE THAN 525 TRAINING SESSIONS. IN 2024 ALONE, THE CENTER SERVED 950 UNIQUE CLIENTS, TRAINED NEARLY 1,900 INDIVIDUALS, AND CONDUCTED 66 TRAINING SESSIONS.IN RECOGNITION OF ITS IMPACT, THE U.S. SMALL BUSINESS ADMINISTRATION HONORED THE CENTER WITH THE 2022 WOMEN'S BUSINESS CENTER OF THE YEAR EXCELLENCE AWARD. AT THE 2022 SBA SMALL BUSINESS WEEK AWARDS LUNCHEON, THE WBC RECEIVED BOTH THE SOUTHEAST REGION IV AND GEORGIA DISTRICT WOMEN'S BUSINESS CENTER OF THE YEAR AWARDS.ACE'S SECOND WBC OPENED IN 2021 TO SERVE THE SAVANNAH REGION. SINCE ITS LAUNCH, THE SAVANNAH WBC HAS SERVED MORE THAN 750 UNIQUE CLIENTS, TRAINED NEARLY 1,000 INDIVIDUALS, AND FACILITATED 110 TRAINING SESSIONS. IN 2024, THE CENTER SUPPORTED 265 UNIQUE CLIENTS, PROVIDED TRAINING TO 420 INDIVIDUALS, AND HOSTED 32 TRAINING SESSIONS.THROUGH ITS EFFORTS, ACE EMPOWERS UNDERSERVED ENTREPRENEURS ACROSS GEORGIA TO ACHIEVE ECONOMIC EQUITY, CREATING A RIPPLE EFFECT THAT LEADS TO STRONGER, MORE STABLE COMMUNITIES. 12105316 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 38 0 1 45 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X WASSIA KAMON 6783355600 3173 HIGHWAY 129 N CLEVELAND GA 30528 BILL ZAWROTNY BOARD CHAIR 5.00 X X 0 0 0 SIBYL SLADE VICE CHAIR 5.00 X X 0 0 0 GRACE LOPEZ-WILLIAMS TREASURER & FINANCE COMMITTEE CHAIR 5.00 X X 0 0 0 DALE ROYAL SECRETARY 5.00 X X 0 0 0 MIGUEL ALANDETE BOARD MEMBER & LOAN COMMITTEE CHAIR 5.00 X 0 0 0 MATT BOZZELLI IMMEDIATE PAST BOARD CHAIR 5.00 X 0 0 0 MARY KEPLER BOARD MEMBER 5.00 X 0 0 0 MARVIN LIM BOARD MEMBER 5.00 X 0 0 0 HOLLIS LINGINFLETER BOARD MEMBER & INVESTMENT COMM.CHAIR 5.00 X 0 0 0 STEPHANIE MARTIN BOARD MEMBER 5.00 X 0 0 0 CARLOS MATA BOARD MEMBER 5.00 X 0 0 0 CANDY MOORE BOARD MEMBER 5.00 X 0 0 0 COURTNEY SMITH BOARD MEMBER 5.00 X 0 0 0 GRACE C FRICKS PRESIDENT & CEO 40.00 X 531104 0 19572 BOB GALLAGHER CHIEF FINANCIAL OFFICER 40.00 X 124275 0 0 SHANON STEWART CHIEF CREDIT OFFICER 40.00 X 215310 0 11500 MARTINA EDWARDS CHIEF OF STRATEGIC PARTNERSHIPS 40.00 X 175659 0 21964 SANDRA HEADLEY VICE PRESIDENT 40.00 X 176684 0 6720 RAYNARD CLAY DIRECTOR OF LENDING 40.00 X 169503 0 6459 RAY PENNIE PRESIDENT OF BUSINESS DEVELOPMENT 40.00 X 169294 0 4890 1561829 0 71105 13 0 1 0 CLIFTONLARSONALLEN LLP PO BOX 740863 ATLANTA GA 30374 ACCOUNTING SYSTEM CONVERSION CONSULTANT 543199 THOMAS E AUSTIN JR LLC 2625 PIEDMONT ROAD SUITE 56-330 ATLANTA GA 30324 COLLECTION, RECOVERY, AND LEGAL FEES 201581 ARKUS 10 TIMES SQUARE 6TH FLOOR NEW YORK NY 10018 LOAN DEPARTMENT SYSTEM CONVERSION AND OV 199235 ARC BUSINESS SOLUTIONS 2022 CHESLEY DRIVE AUSTELL GA 30106 BUSINESS ADVISORY COHORTS 126910 GALLAGHER ADVISORY SERVICES 1266 W PACES FERRY RD NW STE 310 ATLANTA GA 30327 CFO SERVICES 124275 6 2006441 10818846 12825287 LENDING PROGRAM INCOME 522100 10096948 10096948 10096948 2112672 2112672 25034907 10096948 0 2112672 X 4000 4000 674951 168738 506213 4212351 2914151 818428 479772 79422 47353 19452 12617 402446 328439 35761 38246 337980 232377 70097 35506 254658 251543 3115 93854 93854 10000 6166 3834 1559415 1218519 331896 9000 19127 19127 95388 51970 37454 5964 686523 322952 353174 10397 113354 34715 78639 128926 58531 61412 8983 206383 36736 83601 86046 1932749 1932749 18857 11926 6256 675 46599 21013 25162 424 PROVISION FOR LOAN LOSS 4307679 4307679 CLOSING EXPENSES 72451 72451 DUES AND MEMBERSHIPS 21694 12725 8889 80 PUBLICATIONS AND SUBSCR 450 450 105737 70583 34269 885 15384994 12105316 2591083 688595 1749308 1942990 47446205 46931627 2369022 940105 10000 15000 66851740 82023335 126956 111502 80666 67454 28760 13212 91815 95967 929228 1065056 1578801 1187129 121181835 134325923 605980 1074023 5666472 3869394 748287 282369 14394407 13421949 32420475 34177170 13760000 18260000 67595621 71084905 X 38382882 47050161 15203332 16190857 53586214 63241018 121181835 134325923 9649913 4891 0 X X 0 1 X 1 1 1 X 12400170 5600393 9259677 18448582 12825287 58534109 10770 11000 12000 12000 12000 57770 12410940 5611393 9271677 18460582 12837287 58591879 9925946 48665933 54334 92607 231739 1410191 2112672 3901543 62493422 32386847 0.77870 0.70890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 10000 10000 0 PART II-B, LINE 1: GOVERNMENT RELATION SERVICES ($10,000) 0 748287 -400825 65093 282369 1 X 80666 67454 13212 13212 EQUITY EQUIVALENT LIABILITIES 13760000 INVESTMENT BOND PAYABLE 4500000 18260000 X 25311263 4891 271465 276356 25034907 0 25034907 15656459 271465 271465 15384994 0 15384994 PART IV, LINE 2B: FROM TIME TO TIME, ACE ACTS AS AGENT ON BEHALF OF OTHER ORGANIZATIONS, WHICH INCLUDE DEKALB COUNTY. ACE COLLECTS CASH FUNDS FROM SERVICING THESE LOAN PORTFOLIOS THAT ARE OWNED BY THE OTHER ORGANIZATIONS NOTED ABOVE. PART X, LINE 2: ACE QUALIFIES AS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN INTERNAL REVENUE CODE SECTION 501(C)(3) AND HAS BEEN CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS A PUBLICLY SUPPORTED ORGANIZATION AND NOT AS A PRIVATE FOUNDATION. ACE FOLLOWS THE STATUTORY REQUIREMENTS FOR ITS INCOME TAX ACCOUNTING AND GENERALLY AVOIDS RISKS ASSOCIATED WITH POTENTIALLY PROBLEMATIC TAX POSITIONS THAT MAY BE CHALLENGED UPON EXAMINATION. 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 & CEO 506104 0 25000 0 0 0 19279 0 293 0 550676 0 0 0 SHANON STEWART CHIEF CREDIT OFFICER 205310 0 10000 0 0 0 6324 0 5176 0 226810 0 0 0 MARTINA EDWARDS CHIEF OF STRATEGIC PARTNERSHIPS 160659 0 15000 0 0 0 5261 0 16703 0 197623 0 0 0 SANDRA HEADLEY VICE PRESIDENT 165284 0 11400 0 0 0 4896 0 1824 0 183404 0 0 0 RAYNARD CLAY DIRECTOR OF LENDING 163503 0 6000 0 0 0 4757 0 1702 0 175962 0 0 0 RAY PENNIE PRESIDENT OF BUSINESS DEVELOPMENT 163794 0 5500 0 0 0 4890 0 0 0 174184 0 0 0 PART I, LINE 7 THE FOLLOWING EMPLOYEES RECEIVED DISCRETIONARY BONUSES: GRACE C. FRICKS $25,000 SHANON STEWART $10,000 SANDRA HEADLEY $11,400 RAY PENNIE $5,500 RAYNARD CLAY $6,000 MARTINA EDWARDS $15,000 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 OTHER CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 1,218,519. MANAGEMENT AND GENERAL EXPENSES 331,896. FUNDRAISING EXPENSES 9,000. TOTAL EXPENSES 1,559,415. FORM 990 PART XI, LINE 2C THE ORGANIZATION MAINTAINED THE SAME AUDITOR AS THE PRIOR YEAR, AND THE OVERSIGHT PROCESS HAS NOT CHANGED.