You are now searching

   

New York BBB Wise Giving Report for
Accion USA, Inc.

A BBB Accredited charity

 


  • Meets all standards

Expiration Date:
06/2016
Name:
ACCION East, Inc.
Formerly known as:
ACCION USA and ACCION New York, formerly known as: N/A
Address:
80 Maiden Lane, Suite 903
New York, NY 10038
Phone:
212-387-0377
Year, State Incorporated:
1996, New York
Affiliates:
None
Stated Purpose:
" As a leader in U.S. microfinance, ACCION USA empowers low to moderate income (LMI) business owners with access to capital and financial education. With economic opportunity, these entrepreneurs, often minorities and women, can build assets, better provide for their families, and strengthen their communities. "






Evaluation Conclusions
 

              
ACCION East, Inc. meets the 20 Standards for Charity Accountability.




Programs
 

              
ACCION USA is a microfinance organization that lends with the mission of empowering business owners with access to working capital and financial education.



Governance
 

              
Chief Executive Officer:
Mr. Paul Quintero, Chief Executive Officer
Compensation*:
$207,071
Chair of the Board:
Ms. Janet Thompson
Chair's Profession / Business Affiliation:
Vice President & Director of Community Reinvestment, Citigroup (ret.)
Board Size:
17
Paid Staff Size:
49



*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.




Fund Raising
 

              
Method(s) Used:


Direct mail appeals, invitations to fund raising events, grant proposals, internet
Fund raising costs were 9.9% of related contributions. (Related contributions, which totaled $4,821,953, are donations received as a result of fund raising activities.)




Tax Status
 

              
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.




Financial
 

              
The following information is based on Accion East's Audited Financial Statements for the fiscal year ended December 31, 2012.

Source of Funds  

Contributions & Grants

$4,821,953

Interest on Loans

754,140

Program Fees

320,119

Other Revenue

31,488

Investment Income

15,321

Total Income

$5,943,021

Program Expenses  

Lending / Development Services

$4,285,112

Network

888,530
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Expenses in Excess of Income

5,173,642
475,164
719,950

$6,368,756

$(425,735)




Uses of Funds as a % of Total Expenses


Programs: 81%  Fund Raising: 8%  Administrative 11% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $3,943,176
Ending net assets 3,517,441
Total liabilities 11,507,191

Total assets

$15,024,632






 

A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fundraising or promotional purposes and may not be reproduced or distributed in whole or in part.