Access To Capital For Entrepreneurs Inc
Cleveland, GA
What do they do?
They help small businesses and entrepreneurs get loans and business training. They especially focus on helping people who might have trouble getting regular bank loans start and grow their businesses.
Their mission:
"To provide access to capital, education and business development resources to new and existing small, micro, or environmentally sustainable businesses."
💵 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.
💡 This shows the big picture: how much came in and how much went out for the year.
📥 Where did the money come from? (2023)
| Source | Amount | % |
|---|---|---|
Donations from people Gifts from regular people | $4.2 million | 31% |
Grants Money from foundations or government | $5.0 million | 36% |
Money earned from services Fees they charge for their programs | $4.3 million | 31% |
Investment earnings Money their savings made | $232K | 2% |
| Total | $13.8 million | 100% |
💡 This shows all the different ways this organization received money during the year.
📤 Where did the money go? (2023)
| What it paid for | Amount | % |
|---|---|---|
Helping people directly (grants & aid given out) Money they gave directly to people or other organizations to help them | $60K | 1% |
Employee salaries & benefits Paychecks and health insurance for workers | $3.7 million | 52% |
Executive/officer pay What the bosses get paid | $566K | 8% |
Office & rent Rent, utilities, office supplies | $92K | 1% |
Professional services Lawyers, accountants, consultants | $910K | 13% |
Travel Flights, hotels, transportation | $61K | 1% |
Advertising & promotion Marketing, social media, printing | $23K | 0% |
Technology & equipment Computers, software, equipment | $418K | 6% |
Other expenses Everything else | $1.2 million | 18% |
| Total spent | $7.0 million | 100% |
💡 This is the real breakdown from their tax filing. It shows exactly what they spent money on.
👥 Who runs this organization? (2023)
| Name | Job Title | Paid |
|---|---|---|
| Grace C Fricks | President and CEO/Board Member | $370,878 |
| Joshua Brackett | CFO | $175,346 |
| Eric Swilling | Director of Lending | $163,046 |
| Ray Pennie | Chief of Business Advisory | $153,681 |
| Martina Edwards | Chief of Strategic Partnerships | $155,807 |
| Sandra Headley | VP | $146,453 |
| Shanon Stewart | Chief Credit Officer | $126,211 |
💡 These are the people who make decisions for this organization and how much they were paid for the year.
🏦 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 |
💡 Their net worth is positive, meaning they own more than they owe. This is generally a healthy sign.
🎯 What programs do they run?
Their main program is lending money to small businesses and entrepreneurs who need capital to start or grow their companies. They provide loans and business development resources to help people create sustainable businesses.
⚠️ Things you might want to know
High executive compensation relative to organization size, with the CEO earning $370,878. Seven executives earn over $100,000 each, which is unusual for a nonprofit of this revenue size.
📄 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.