Accion

aka Accion   |   Cambridge, MA   |  http://www.accion.org

Mission

Accion is a global nonprofit committed to creating a financially inclusive world, with a pioneering legacy in microfinance and fintech impact investing. We catalyze financial service providers to deliver high-quality, affordable solutions at scale for the three billion people who are left out of — or poorly served by — the financial sector. For nearly 60 years, Accion has helped tens of millions of people through its work with more than 160 partners in 55 countries.

Ruling year info

1965

President and CEO

Michael Schlein

Main address

10 Fawcett Street Suite 204

Cambridge, MA 02138 USA

Show more contact info

EIN

13-2535763

NTEE code info

Employment, Job Related N.E.C. (J99)

International Economic Development (Q32)

Economic Development (S30)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

3 billion people live in or near poverty. Since our founding in 1961, we have worked tirelessly to empower people who are underserved, revolutionizing financial services for people who are left out.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Advisory services

Accion’s advisory services, targeted coaching, support, and governance help financial service providers deliver the high-quality, affordable financial tools and services that create a world with economic opportunity for all.

Population(s) Served

We make equity and quasi-equity investments in companies that expand, improve, and accelerate financial inclusion around the globe.

Population(s) Served

We partner with organizations to sustain our work developing new products, new markets, and new policies.

Population(s) Served

Our thought leadership challenges and engages the industry, its leaders, and its regulators to achieve a financially inclusive world.

Population(s) Served

Where we work

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Our vision is to build a financially inclusive world with access to economic opportunity for all.
Our mission is to give people the financial tools they need to improve their lives, meaning :
• The availability of a full suite of financial services, including credit, savings, insurance, and payments
• Provided with quality, in a convenient, affordable, and suitable manner that protects and upholds the dignity of the client
• To everyone who can use financial services and who is ‘financially capable’– that is, informed and able to make good decisions about their use of these services
• And delivered in a diverse and competitive marketplace of financial service providers

Accion is a global nonprofit that combines decades of on-the-ground experience in what the poor need with insights into new technologies to:
Accelerate social and economic progress: We use double-bottom line investing, pursuing altruistic goals through commercial means to help more families and businesses realize their economic potential.
Create catalytic, industry-shaping change: We work to increase the quality and reduce the costs of financial products and services.
Build permanent, scalable, and sustainable institutions: To meet peoples’ needs over the long-term, we must create enduring, vibrant, and viable financial institutions that compete for and win their clients’ business.
Harness the capital markets: To create solutions that reach billions of financially underserved clients over the course of their lives, we need to attract private capital – and therefore pay a return on that capital. This means engaging third-party investors, and it means exits for investors with appropriate ROI in due course.

As a non-profit, Accion’s unique approach to financial inclusion combines advisory solutions, impact investing, client advocacy, research, and industry partnerships.
Accion’s advisory services, targeted coaching, support, and governance help financial service providers deliver the high-quality, affordable financial tools and services that create a world with economic opportunity for all.
We make equity and quasi-equity investments in companies that expand, improve, and accelerate financial inclusion around the globe. Our investment initiatives include Accion Global Investments, Accion Venture Lab, and Accion Frontier Investments.
We partner with organizations to sustain our work developing new products, new markets, and new policies.
Our thought leadership, influence, and advocacy efforts challenge and engage the industry, its leaders, and its regulators to achieve a financially inclusive world. The Center for Financial Inclusion at Accion – an action-oriented think tank – develop insights, advocates on behalf of clients, and collaborates with stakeholders to achieve a comprehensive vision for financial inclusion.

For nearly 60 years, Accion has helped tens of millions of people through our work with more than 160 partners in 55 countries.
In 2019, for example, we:
• Significantly increased our support for innovation. Through Accion Venture Lab and the Accion Frontier Investments portfolio, managed by Quona Capital, we made impact investments in new financial technologies that allow us to offer better, faster, and more affordable services to the underserved.
• Launched a new $23M fund through Accion Venture Lab. The fund brings together a group of third-party impact and commercial investors that share Venture Lab’s commitment to innovative fintech startups that leverage technology to increase the reach, quality, and affordability of financial services for the underserved at scale.
• Grew our partnership with the Mastercard Center for Inclusive Growth. Seven partners around the world have now joined our ongoing program with Mastercard, which seeks to drive the digital transformation of millions of microbusinesses and the financial institutions that serve them.
• Produced research, advocated for clients, and collaborated with stakeholders to help vulnerable households, businesses, and financial service providers recover from crisis and build resilience. The foundations laid in 2019 enabled the Center for Financial Inclusion to rapidly respond to the emerging COVID-19 pandemic both within its own research agenda and as a convening organization for the sector.

Financials

Accion
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

Accion

Board of directors
as of 10/27/2020
SOURCE: Self-reported by organization
Board chair

Diana Taylor

Diana Taylor

Ron Hoge

Pinnacle Engines, Inc

Bob Annibale

Citi Community Development and Inclusive Finance

Thomas Barry

Zephyr Management

Titus Brenninkmeijer

Solgenix, LLC

Tara Kenney

Boston Common Asset Management

Barbara Lucas

Luness Partners

Elizabeth McCaul

Promontory FInancial Group

Michael Miebach

Mastercard

Henry Miller

High Impact Partnering, LLC

Phillip Riese

RIESE & OTHERS

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? No
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? No
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? No
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? No
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 10/27/2020,

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

The organization's leader identifies as:

Race & ethnicity
Decline to state
Sexual orientation
Decline to state
Disability status
Decline to state

Race & ethnicity

No data

Gender identity

No data

 

No data

Sexual orientation

No data

Disability

No data