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Nonprofiteer
← ACE FOUNDATION INC

Form 990 for tax year 2023

Filed by ACE FOUNDATION INC.

Totals

Total revenue
$1,097,700
Total expenses
$995,219
Contributions and grants received
$1,097,700
Grants paid
$26,262
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,302,294
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,302,294
Program services expenses (Part IX)
$984,740
Management and general expenses
$10,479
Fundraising expenses
$0
Program service expenses (Part III)
$984,740

Program services were 98.9% 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.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,097,700

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,262 · program services $16,262

  • 2 · Grants to domestic individuals

    total $10,000 · program services $10,000

  • 7 · Other salaries and wages

    total $274,755 · program services $274,755

  • 9 · Other employee benefits

    total $7,953 · program services $7,953

  • 10 · Payroll taxes

    total $26,217 · program services $26,217

  • 11a · Fees: management

    total $8,900 · program services $8,900

  • 23 · Insurance

    total $2,476 · management and general $2,476

  • 24a · Other expenses: TEACHER APPRECIATION EV

    total $640,653 · program services $640,653

  • 24b · Other expenses: COMPUTER EXPENSES

    total $3,355 · management and general $3,355

  • 24c · Other expenses: BANK SERVICE CHARGE

    total $2,136 · management and general $2,136

  • 24d · Other expenses: COMMUNICATION EXPENSES

    total $1,525 · management and general $1,525

  • 24e · All other expenses

    total $987 · management and general $987

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,149 · end of year $180,630

  • 7 · Other notes and loans receivable

    beginning of year $990,000 · end of year $990,000

  • 15 · Other assets

    beginning of year $191,664 · end of year $131,664

  • 27 · Net assets without donor restrictions

    beginning of year $1,164,813 · end of year $1,267,294

  • 28 · Net assets with donor restrictions

    beginning of year $35,000 · end of year $35,000

Mission and programs · 2023

Mission

THE ACE FOUNDATION WAS ESTABLISHED TO SUPPORT EDUCATIONAL PROJECTS AND EVENTS THAT ENHANCE THE PUBLIC EDUCATION SYSTEM AND INCREASE STUDENT ACHIEVEMENT. THE MISSION OF THE FOUNDATION IS TO ENHANCE THE EDUCATIONAL OPPORTUNITIES OF CHARTER SCHOOL STUDENTS BY PROVIDING FINANCIAL AND COMMUNITY-BASED RESOURCES TO SUPPLEMENT CHARTER SCHOOL PROGRAMS AND INITIATIVES.THE PURPOSE OF THE ORGANIZATION IS TO ALLOCATE RESOURCES TO IMPROVE THE EDUCATION EFFORT THROUGH INITIATIVES SUCH AS TEACHER AND SCHOOL GRANTS, STUDENT SCHOLARSHIPS, AND RECOGNITION OF EDUCATIONAL EXCELLENCE. THE ORGANIZATION CONDUCTS FUNDRAISING ACTIVITIES AND SPONSORS ANNUAL EVENTS SUCH AS ART AUCTIONS/RECOGNITION CEREMONIES TO RAISE FUNDS FOR EDUCATIONAL NOT-FOR PROFIT ENTITIES IN THE COMMUNITY.

Activities or mission (Part I)

THE MISSION OF THE FOUNDATION IS TO ENHANCE THE EDUCATIONAL OPPORTUNITIES OF CHARTER SCHOOL STUDENTS BY PROVIDING FINANCIAL AND COMMUNITY-BASED RESOURCES TO SUPPLEMENT CHARTER SCHOOL PROGRAMS AND INITIATIVES.THE ACE FOUNDATION WAS ESTABLISHED TO SUPPORT EDUCATIONAL PROJECTS AND EVENTS THAT ENHANCE THE PUBLIC EDUCATION SYSTEM AND INCREASE STUDENT ACHIEVEMENT.THE PURPOSE OF THE ORGANIZATION IS TO ALLOCATE RESOURCES TO IMPROVE THE EDUCATION EFFORT THROUGH INITIATIVES SUCH AS TEACHER AND SCHOOL GRANTS, AND RECOGNITION OF EDUCATIONAL EXCELLENCE. THEORGANIZATION CONDUCTS FUNDRAISING ACTIVITIES AND SPONSORS ANNUAL EVENTSSUCH AS ART AUCTIONS/RECOGNITION CEREMONIES TO RAISE FUNDS FOREDUCATIONAL NOT-FOR-PROFIT ENTITIES IN THE COMMUNITY.

  • THE FOUNDATION CONDUCTS FUNDRAISERS DURING THE YEAR IN ORDER TO SUPPORT CHARTER SCHOOLS. DURING 2023 IT WAS ABLE TO PROVIDE THE EDUCATORS OF CHARTER SCHOOLS WITH SUPPORT TO IMPROVE THEIR EDUCATION EFFORTS. SOME OF THE PROGRAMS USED INCLUDED TEACHER AND SCHOOL GRANTS, ANNUAL EVENTS SUCH AS ART AUCTIONS, RECOGNITION CEREMONIES AND SUMMER CAMP PROGRAMS.

    Expenses $984,740 · Grants $26,262

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mr Charles A Gibson

    DIRECTOR, PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Ms Ana Maria Zulueta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Lilian Zulueta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Eleonora Cuesta

    SECRETARY, DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • Mr Ryan Reeves

    TREASURER, DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • Ms Athena Guillen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Susie Dopico

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Daniel Diaz

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    14

  • Ms Anitere Flores

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $150,000
    From this org
    $150,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Shannie Sadesky

    DIRECTOR OF COMMUNICATIONS

    Total calculated
    $133,723
    From this org
    $133,723
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
25 October 2024
IRS schema version
2023v5.1
Source object
202432999349301538

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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