Form 990 for tax year 2024

Totals

Total revenue

$25,034,907

Total expenses

$15,384,994

Contributions and grants received

$12,825,287

Grants paid

$4,000

Program service revenue

$10,096,948

Investment income

$2,112,672

Other revenue

$0

Total assets, end of year

$134,325,923

Total liabilities, end of year

$71,084,905

Net assets or fund balances, end of year

$63,241,018

Program services expenses (Part IX)

$12,105,316

Management and general expenses

$2,591,083

Fundraising expenses

$688,595

Program service expenses (Part III)

$12,105,316

Program services were 78.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Mission and programs · 2024

• 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.

  Expenses $12,105,316 · Grants $4,000 · Revenue $10,096,948

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type

form_990

Tax year

2024

Filed

10 June 2025

IRS schema version

2024v5.1

Source object

202501629349301205

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