Accion East Inc
- Assets
- $0.0
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 04/1995
- Data as of
- 12/2020
- EIN
- 04-3219159
Organization Overview
Accion East Inc, operating under the name Ascendus Inc, is located in New York, NY. The organization was established in 1995. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. Ascendus Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
ACCION EMPOWERS LOW-TO-MODERATE INCOME BUSINESS OWNERS THROUGH ACCESS TO CAPITAL AND FINANCIAL EDUCATION. WITH ECONOMIC OPPORTUNITY, THESE ENTREPRENEURS, OFTEN MINORITIES AND WOMEN, CAN BUILD ASSETS, BETTER PROVIDE FOR THEIR FAMILIES, CREATE EMPLOYMENT AND STRENGTHEN THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACCION EAST, INC. HAS TWO PRIMARY PROGRAMS, THE LARGEST OF WHICH IS THE PROVISION OF MICROLOANS AND DEVELOPMENT SERVICES TO MICRO-ENTREPRENEURS (I.E., ENTREPRENEURS THAT EMPLOY FIVE OR LESS EMPLOYEES). WE SERVE LOW- TO MODERATE-INCOME, MINORITY, IMMIGRANT AND WOMEN ENTREPRENEURS, POPULATIONS THAT LACK ACCESS TO MAINSTREAM CREDIT SOURCES. WITH FINANCIAL INCLUSION, OUR CLIENTS GO ON TO BUILD ASSETS, GROW HOUSEHOLD INCOMES AND CREATE JOBS FOR THEMSELVES AND OTHERS WITHIN THEIR LOCAL COMMUNITIES.THE ORGANIZATION DISSOLVED DURING 2021.
ACCION EAST, INC. HAS TWO PRIMARY PROGRAMS, THE LARGEST OF WHICH IS THE PROVISION OF MICROLOANS AND DEVELOPMENT SERVICES TO MICRO-ENTREPRENEURS (I.E., ENTREPRENEURS THAT EMPLOY FIVE OR LESS EMPLOYEES). WE SERVE LOW- TO MODERATE-INCOME, MINORITY, IMMIGRANT AND WOMEN ENTREPRENEURS, POPULATIONS THAT LACK ACCESS TO MAINSTREAM CREDIT SOURCES. WITH FINANCIAL INCLUSION, OUR CLIENTS GO ON TO BUILD ASSETS, GROW HOUSEHOLD INCOMES AND CREATE JOBS FOR THEMSELVES AND OTHERS WITHIN THEIR LOCAL COMMUNITIES.THE ORGANIZATION IS IN THE PROCESS OF DISSOLVING THE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Lagueux Chair | OfficerTrustee | 1 | $0 |
Roshelle Nagar Secretary | OfficerTrustee | 1 | $0 |
Thomas Mcdermott Director | Trustee | 1 | $0 |
Paul Quintero CEO | Officer | 1 | $0 |
William Popeleski Senior Advisor To The CEO | Officer | 1 | $0 |
Sean Berry Contracted Controller | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $0 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |