Ace Foundation Inc.

990PF • Fiscal year 2022 • EIN 11-3237003

Nov 01, 2021 to Oct 31, 2022 • Filed on Mar 14, 2024

Organization Profile

1650 49th StreetBrooklyn, NY 11204

(718) 431-2355

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • NTEE T • $10M-$25M nonprofits • Source year 2022

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • NTEE T • $10M-$25M nonprofits • Source year 2022

-74%

Higher net margin than 30% of similar nonprofits.

2022 filings • NTEE T • $10M-$25M nonprofits • Source year 2022

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • NTEE T • $10M-$25M nonprofits • Source year 2022

-6.7%

Faster asset growth than 30% of similar nonprofits.

2022 filings • NTEE T • $10M-$25M nonprofits • Annualized from 2021 to 2022

533%

Faster revenue growth than 93% of similar nonprofits.

2022 filings • NTEE T • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet

Liabilities / Assets67th percentile

Assets

Down

$19,677,004

Down $1,419,736 (-6.7%) from 2021

Net Assets

Down

$19,677,004

Down $1,398,736 (-6.6%) from 2021

Liabilities

Down

Down $21,000 (-100%) from 2021

Revenue And Expenses

Liabilities / Revenue62nd percentile Net Margin30th percentile

Revenue

$1,878,909

Up $1,582,116 (+533%) from 2021

Expenses

$3,277,645

Up $326,758 (+11%) from 2021

Net Income

-$1,398,736

Up $1,255,358 (+47%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

Highlighted filing

2022

Assets$19,677,004

Liabilities$0

Net Assets$19,677,004

Open 2022 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

Highlighted filing

2022

Revenue$1,878,909

Expenses$3,277,645

Net Income-$1,398,736

Open 2022 Filing

Jump To

Filing Snapshot

Filing Period: Nov 1, 2021 to Oct 31, 2022
Signed: Mar 14, 2024
Return Version: 2021v4.1

Compensation and Service Providers

Top Officer Pay64th percentile

Employees

Name	Title	Full / Part Time	Base	Other	Total
Aaron Elbogen	President	-	$0	-	-
Chaya Elbogen	Vice Pres.	-	$0	-	-

Filing and Contact Details

Filer

Filer Name: Ace Foundation Inc
EIN: 11-3237003
Phone: 7184312355
Address: 1650 49th Street, Brooklyn, NY 11204

Signing Officer

Name: Aaron Elbogen
Title: President
Signed: 2024-03-14
Discuss with paid preparer: Yes

Preparer

Firm: Daniel D Baumann CPA
Address: 1132 East 12th Street, Brooklyn, NY 11230
Preparer: Daniel Baumann
Phone: 7182535451

Raw XML Appendix353 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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InvestmentsCorpStockSchedule/InvestmentsCorporateStockGrp/EOYBookValueAmt	2	79453
InvestmentsCorpStockSchedule/InvestmentsCorporateStockGrp/StockNm	0	25,000 Sh AMRE, Inc.
InvestmentsCorpStockSchedule/InvestmentsCorporateStockGrp/StockNm	1	3,149,999 Shs Orbit Travel
InvestmentsCorpStockSchedule/InvestmentsCorporateStockGrp/StockNm	2	4,384sh JC Penny (JCP)
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IRS990PF/UndistributedIncomeGrp/ExcessDistributionCyovYr3Amt	0	934759
IRS990PF/UndistributedIncomeGrp/ExcessDistriCyovToNextYrAmt	0	8627405
IRS990PF/UndistributedIncomeGrp/ExcessFromCurrentYearAmt	0	2267549
IRS990PF/UndistributedIncomeGrp/ExcessFromYear1Amt	0	1849349
IRS990PF/UndistributedIncomeGrp/ExcessFromYear2Amt	0	3575748
IRS990PF/UndistributedIncomeGrp/ExcessFromYear3Amt	0	934759
IRS990PF/UndistributedIncomeGrp/QualifyingDistributionsAmt	0	3246702
IRS990PF/UndistributedIncomeGrp/RemainingDistriFromCorpusAmt	0	2267549
IRS990PF/UndistributedIncomeGrp/TotalCorpusAmt	0	8627405
IRS990PF/UndistributedIncomeGrp/TotalExcessDistributionCyovAmt	0	6359856
IRS990PF/UndistributedIncomeGrp/TreatedAsDistriFromCorpusAmt	0	0
IRS990PF/UndistributedIncomeGrp/UndistributedIncomeCYAmt	0	0
IRS990ScheduleB/ContributorInformationGrp/ContributorNum	0	1
IRS990ScheduleB/ContributorInformationGrp/ContributorNum	1	2
IRS990ScheduleB/ContributorInformationGrp/ContributorNum	2	3
IRS990ScheduleB/ContributorInformationGrp/ContributorNum	3	4
IRS990ScheduleB/ContributorInformationGrp/ContributorNum	4	5
IRS990ScheduleB/ContributorInformationGrp/ContributorPersonNm	0	Aaron Elbogen
IRS990ScheduleB/ContributorInformationGrp/ContributorPersonNm	1	Brenda Bertam
IRS990ScheduleB/ContributorInformationGrp/ContributorPersonNm	2	Freeda Broker
IRS990ScheduleB/ContributorInformationGrp/ContributorPersonNm	3	Israel Elbogen
IRS990ScheduleB/ContributorInformationGrp/ContributorPersonNm	4	Jacob Elbogen
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt	0	1650 49th Street
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt	1	1669 54th Street
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt	2	1650 49th Street
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt	3	5104 17th Avenue
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt	4	1669 50th Street
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm	0	Brooklyn
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm	1	Brooklyn
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm	2	Brooklyn
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm	3	Brooklyn
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm	4	Brooklyn
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd	0	NY
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd	1	NY
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd	2	NY
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd	3	NY
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd	4	NY
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd	0	11204
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd	1	11204
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd	2	11204
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd	3	11204
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd	4	11204
IRS990ScheduleB/ContributorInformationGrp/PersonContributionInd	0	X
IRS990ScheduleB/ContributorInformationGrp/PersonContributionInd	1	X
IRS990ScheduleB/ContributorInformationGrp/PersonContributionInd	2	X
IRS990ScheduleB/ContributorInformationGrp/PersonContributionInd	3	X
IRS990ScheduleB/ContributorInformationGrp/PersonContributionInd	4	X
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt	0	200000
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt	1	200000
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt	2	200000
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt	3	200000
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt	4	200000
IRS990ScheduleB/GeneralRuleInd	0	X
IRS990ScheduleB/Organization501c3ExemptPFInd	0	X
LegalFeesSchedule/LegalFeesGrp/AdjustedNetIncomeAmt	0	1500
LegalFeesSchedule/LegalFeesGrp/CategoryTxt	0	Legal Fees
LegalFeesSchedule/LegalFeesGrp/DisbursementsCharitablePrpsAmt	0	0
LegalFeesSchedule/LegalFeesGrp/LegalFeesAmt	0	3000
LegalFeesSchedule/LegalFeesGrp/NetInvestmentIncomeAmt	0	1500
OtherExpensesSchedule/OtherExpensesScheduleGrp/AdjustedNetIncomeAmt	0	102
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc	0	Bank Charges
OtherExpensesSchedule/OtherExpensesScheduleGrp/NetInvestmentIncomeAmt	0	101
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt	0	203
OtherIncomeSchedule2/OtherIncomeDetail/AdjustedNetIncomeAmt	0	775745
OtherIncomeSchedule2/OtherIncomeDetail/AdjustedNetIncomeAmt	1	-475
OtherIncomeSchedule2/OtherIncomeDetail/AdjustedNetIncomeAmt	2	103283
OtherIncomeSchedule2/OtherIncomeDetail/AdjustedNetIncomeAmt	3	-25
OtherIncomeSchedule2/OtherIncomeDetail/Desc	0	Aroya Credit LLC K-1
OtherIncomeSchedule2/OtherIncomeDetail/Desc	1	Ceturion Credit Group K-1
OtherIncomeSchedule2/OtherIncomeDetail/Desc	2	Mercer Investors K-1
OtherIncomeSchedule2/OtherIncomeDetail/Desc	3	MIB Life LLC K-1
OtherIncomeSchedule2/OtherIncomeDetail/NetInvestmentIncomeAmt	0	775745
OtherIncomeSchedule2/OtherIncomeDetail/NetInvestmentIncomeAmt	1	-475
OtherIncomeSchedule2/OtherIncomeDetail/NetInvestmentIncomeAmt	2	103283
OtherIncomeSchedule2/OtherIncomeDetail/NetInvestmentIncomeAmt	3	-25
OtherIncomeSchedule2/OtherIncomeDetail/RevenueAndExpensesPerBooksAmt	0	775745
OtherIncomeSchedule2/OtherIncomeDetail/RevenueAndExpensesPerBooksAmt	1	-475
OtherIncomeSchedule2/OtherIncomeDetail/RevenueAndExpensesPerBooksAmt	2	103283
OtherIncomeSchedule2/OtherIncomeDetail/RevenueAndExpensesPerBooksAmt	3	-25
TaxesSchedule/TaxesDetail/AdjustedNetIncomeAmt	0	250
TaxesSchedule/TaxesDetail/Amt	0	16240
TaxesSchedule/TaxesDetail/Amt	1	1500
TaxesSchedule/TaxesDetail/CategoryTxt	0	990-PF Taxes
TaxesSchedule/TaxesDetail/CategoryTxt	1	NYS Charities Bureau
TaxesSchedule/TaxesDetail/NetInvestmentIncomeAmt	0	16240
TaxesSchedule/TaxesDetail/NetInvestmentIncomeAmt	1	250
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd	0	AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd	0	FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd	0	IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd	0	2
ReturnHeader/BuildTS	0	2023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd	0	true
ReturnHeader/BusinessOfficerGrp/PersonNm	0	Aaron Elbogen
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt	0	President
ReturnHeader/BusinessOfficerGrp/SignatureDt	0	2024-03-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt	0	Ace Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt	0	ACEF
ReturnHeader/Filer/EIN	0	113237003
ReturnHeader/Filer/PhoneNum	0	7184312355
ReturnHeader/Filer/USAddress/AddressLine1Txt	0	1650 49th Street
ReturnHeader/Filer/USAddress/CityNm	0	Brooklyn
ReturnHeader/Filer/USAddress/StateAbbreviationCd	0	NY
ReturnHeader/Filer/USAddress/ZIPCd	0	11204
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt	0	Daniel D Baumann CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt	0	1132 East 12th Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm	0	Brooklyn
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd	0	NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd	0	11230
ReturnHeader/PreparerPersonGrp/PhoneNum	0	7182535451
ReturnHeader/PreparerPersonGrp/PreparerPersonNm	0	Daniel Baumann
ReturnHeader/PreparerPersonGrp/SelfEmployedInd	0	X
ReturnHeader/ReturnTs	0	2024-03-14T09:38:15-07:00
ReturnHeader/ReturnTypeCd	0	990PF
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm	0	Aaron
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm	0	Elbogen
ReturnHeader/TaxPeriodBeginDt	0	2021-11-01
ReturnHeader/TaxPeriodEndDt	0	2022-10-31
ReturnHeader/TaxYr	0	2021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing

Assets: $19,677,004
Liabilities: $0
Net assets: $19,677,004
Revenue: $1,878,909
Expenses: $3,277,645
Net income: -$1,398,736

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Detailed filing. Detailed filing data is available for this year.	$18.5	$0.02	$18.4	$0.54	$0.89	$0.35
2023Detailed filing. Detailed filing data is available for this year.	$18.8	$0.00	$18.8	$0.35	$1.23	$0.88
2022Detailed filing. Detailed filing data is available for this year.	$19.7	$0.00	$19.7	$1.88	$3.28	$1.40
2021Detailed filing. Detailed filing data is available for this year.	$21.1	$0.02	$21.1	$0.30	$2.95	$2.65
2020Detailed filing. Detailed filing data is available for this year.	$23.7	$0.00	$23.7	$1.29	$4.71	$3.42
2019Detailed filing. Detailed filing data is available for this year.	$22.5	$0.02	$22.4	$0.80	$3.33	$2.53
2018Detailed filing. Detailed filing data is available for this year.	$25.0	$0.01	$25.0	$0.51	$1.04	$0.53
2017Detailed filing. Detailed filing data is available for this year.	$25.5	$0.01	$25.5	$2.00	$1.32	$0.68
2016Detailed filing. Detailed filing data is available for this year.	$24.8	$0.00	$24.8	$7.15	$0.90	$6.25
2015Detailed filing. Detailed filing data is available for this year.	$18.6	$0.01	$18.6	$1.89	$0.90	$0.99
2014Detailed filing. Detailed filing data is available for this year.	$17.6	$0.00	$17.6	$1.53	$0.89	$0.65
2013Detailed filing. Detailed filing data is available for this year.	$17.0	$0.02	$16.9	$1.10	$0.90	$0.19
2012Detailed filing. Detailed filing data is available for this year.	$16.8	$0.00	$16.8		$0.84
2011Detailed filing. Detailed filing data is available for this year.	$16.5	$0.00	$16.5		$0.78