Civic Intelligence

Ace Foundation Inc.

990 • Fiscal year 2021 • EIN 26-0302036

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 07, 2022

Organization ProfileWWW.THEACEFOUNDATION.ORG
6340 Sunset DriveMiami, FL 33143

(305) 669-2906

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.01x

Higher debt load relative to assets than 63% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

60th percentile

0.00x

Higher debt load relative to revenue than 60% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

41st percentile

2.9%

Higher net margin than 41% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

99th percentile

$150,000

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 37.0% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

21st percentile

-16%

Faster asset growth than 21% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

27th percentile

-28%

Faster revenue growth than 27% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Down

$187,474

Down $36,111 (-16%) from 2020

Net Assets

Up

$186,045

Up $11,960 (+6.9%) from 2020

Liabilities

Down

$1,429

Down $48,071 (-97%) from 2020

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin41st percentile

Revenue

Down

$405,816

Down $157,130 (-28%) from 2020

Expenses

Down

$393,856

Down $133,681 (-25%) from 2020

Net Income

Down

$11,960

Down $23,449 (-66%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2013: $7,999Liabilities 2013: $2,140Net Assets 2013: $5,8592013Assets 2014: $13,873Liabilities 2014: $0Net Assets 2014: $13,8732014Assets 2015: $132,670Liabilities 2015: $136,624Net Assets 2015: -$3,9542015Assets 2016: $346,954Liabilities 2016: $69,457Net Assets 2016: $277,4972016Assets 2017: $359,254Liabilities 2017: $38,047Net Assets 2017: $321,2072017Assets 2018: $264,023Liabilities 2018: $27,576Net Assets 2018: $236,4472018Assets 2019: $145,840Liabilities 2019: $6,712Net Assets 2019: $139,1282019Assets 2020: $223,585Liabilities 2020: $49,500Net Assets 2020: $174,0852020Assets 2021: $187,474Liabilities 2021: $1,429Net Assets 2021: $186,0452021Assets 2022: $1,199,813Liabilities 2022: $0Net Assets 2022: $1,199,8132022Assets 2023: $1,302,294Liabilities 2023: $0Net Assets 2023: $1,302,2942023Assets 2024: $1,151,651Liabilities 2024: $12,825Net Assets 2024: $1,138,8262024

Highlighted filing

2021

Assets$187,474
Liabilities$1,429
Net Assets$186,045
Open 2021 Filing

Operations Trend

Revenue Growth27th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $17,572Expenses 2013: $9,073Net Income 2013: $8,4992013Revenue 2014: $47,361Expenses 2014: $39,347Net Income 2014: $8,0142014Revenue 2015: $122,669Expenses 2015: $140,496Net Income 2015: -$17,8272015Revenue 2016: $501,657Expenses 2016: $219,826Net Income 2016: $281,8312016Revenue 2017: $2,579,124Expenses 2017: $2,535,414Net Income 2017: $43,7102017Revenue 2018: $3,651,332Expenses 2018: $3,736,092Net Income 2018: -$84,7602018Revenue 2019: $688,633Expenses 2019: $785,952Net Income 2019: -$97,3192019Revenue 2020: $562,946Expenses 2020: $527,537Net Income 2020: $35,4092020Revenue 2021: $405,816Expenses 2021: $393,856Net Income 2021: $11,9602021Revenue 2022: $2,078,496Expenses 2022: $1,061,205Net Income 2022: $1,017,2912022Revenue 2023: $1,097,700Expenses 2023: $995,219Net Income 2023: $102,4812023Revenue 2024: $897,884Expenses 2024: $1,061,352Net Income 2024: -$163,4682024

Highlighted filing

2021

Revenue$405,816
Expenses$393,856
Net Income$11,960
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 7, 2022
Return Version
2021v4.2
Gross Receipts
$405,816
Mission and Program Overview

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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$84,018$52,100▼ $31,918
Total Assets$223,585$187,474▼ $36,111
Other Assets Total$139,567$135,374▼ $4,193
Liabilities
Other Liabilities$46,500$1,405▼ $45,095
Accounts Payable and Accrued Expenses$3,000$24▼ $2,976
Total Liabilities$49,500$1,429▼ $48,071
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$139,085$151,045▲ $11,960
Net Assets With Donor Restrictions$35,000$35,000→ $0
Total Net Assets Fund Balance$174,085$186,045▲ $11,960
Total Liabilities and Net Assets / Fund Balance$223,585$187,474▼ $36,111

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$135,374--
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ms Anitere FloresEmployeeFT$150,000$150,000
Shannie SadeskyEmployeeFT$133,983$133,983

Board Members and Trustees

NameTitle
Mr Charles a GibsonDirector,president
Ms Ana Maria ZuluetaDirector
Ms Athena GuillenDirector
Ms Lilian ZuluetaDirector
Ms Susie DopicoDirector
Mr Daniel DiazExecutive Director
Ms Eleonora CuestaSecretary
Mr Ryan ReevesTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Adp Totalsource Co Xxiii INCPayroll Services10200 SUNSET DRIVE, Miami, FL 33173$308,787
Revenue and Support

Revenue Composition

Contributions and Grants
$409,968
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-4,152
All Other Contributions
$368,368
Change in Net Assets
$11,960
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$308,786
Other Expenses$64,637
Grants and Similar Amounts Paid$20,433
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$274,635--$274,635
Fees for Services Other$30,000--$30,000
Payroll Taxes$25,939--$25,939
Grants to Domestic Orgs$20,433--$20,433
Fees for Services Legal-$10,178-$10,178
Other Employee Benefits$8,212--$8,212
Fees for Services Management$3,600--$3,600
Fees for Services Accounting-$3,000-$3,000
Insurance-$2,060-$2,060
All Other Expenses-$1,127-$1,127
Other Expenses$10,022$965-$965
Total Functional Expenses$372,841$21,015$0$393,856
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Somerset Academy IncMiami, FL501(c)3To Support Education$11,005
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Charter School$1,405
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A copy of the form 990 is provided to the board for review before it is submitted to the internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“The executive director oversees activities and informs the board of any possible conflicts. The board requires disclosure at board meetings for approval of any projects requiring a vote.”

Form 990, Part VI, Section C, Line 18

“This information is available via www.guidestar.org”

Form 990, Part VI, Section C, Line 19

“This information is available upon request.”

Filing and Contact Details

Filer

Filer Name
Ace Foundation Inc
EIN
26-0302036
Phone
3056692906
Address
6340 SUNSET DRIVE, MIAMI, FL 33143

Signing Officer

Name
Daniel Diaz
Title
Executive Director
Phone
3056692906
Signed
2022-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mr Daniel Diaz
Formed
2007
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
2
Volunteers
7

Preparer

Firm
Hlb Gravier Llp
Address
396 ALHAMBRA CIRCLE, CORAL GABLES, FL 33134
Preparer
Leonardo D Gravier
Phone
3054463022
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IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt1-4193
IRS990/OtherRevenueTotalAmt0-4152
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IRS990/PYOtherRevenueAmt018702
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IRS990ScheduleA/FactsAndCircumstancesTestTxt0THE ORGANIZATION'S PURPOSE IS TO RECRUIT FUNDS IN ORDER TO PROVIDE FINANCIAL AND COMMUNITY BASED RESOURCES TO SUPPLEMENT CHARTER SCHOOL PROGRAMS AND INITIATIVES. THE ORGANIZATION HAS SEVERAL DIFFERENT PROGRAMS THAT HELP THE CHARTER SCHOOLS ATTRACT TALENTED AND DEDICATED TEACHERS. THEY ALSO HAVE PROGRAMS THAT ENHANCE STUDENT'S EDUCATIONAL EXPERIENCE BY PROVIDING THEM WITH OUTSIDE THE CLASSROOM ACTIVITIES. ALL OF THESE PROGRAMS ARE AIMED AT THE CHARTER SCHOOL STUDENT POPULATION AND AS SUCH ARE FOR THE BENEFIT OF THE GENERAL PUBLIC. THE FOUNDATION IS CONSTANTLY LOOKING FOR NEW SOURCES OF FUNDING IN ORDER TO EXPAND ITS CURRENT DONOR BASE. THIS WOULD ALLOW THEM TO RECRUIT LARGER AMOUNTS OF CONTRIBUTIONS AND BE ABLE TO EXPAND THIER PROGRAMS. FOR THE 2021 TAX YEAR THE FOUNDATION EXPANDED ITS FUNDRAISING ACTIVITIES IN AN EFFORT TO INCREASE THE PERCENT OF REVENUES RECEIVED FROM THE GENERAL PUBLIC. THE ORGANIZATION IS GOVERNED BY 5 BOARD MEMBERS, NONE OF WHICH ARE RELATED TO EACH OTHER. AS A GROUP THEY REPRESENT THE BROAD INTEREST OF THE GENERAL PUBLIC.
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0544244
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0843348
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt03757584
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02558650
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt08072194
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01797
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.12640
IRS990ScheduleA/PublicSupportPY170Pct00.12710
IRS990ScheduleA/PublicSupportTotal170Amt01020637
IRS990ScheduleA/SubstantialContributorsTotAmt07051557
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0368368
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0544244
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0843348
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt03757584
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02558650
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt08072194
IRS990ScheduleA/TotalSupportAmt08072194
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0135374
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01405
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO CHARTER SCHOOL
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0135374
IRS990ScheduleD/TotalLiabilityAmt01405
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt011005
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)3
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT EDUCATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0SOMERSET ACADEMY INC
IRS990ScheduleI/RecipientTable/RecipientEIN0311569428
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt06340 SUNSET DRIVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MIAMI
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0FL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd033143
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW BEFORE IT IS SUBMITTED TO THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR OVERSEES ACTIVITIES AND INFORMS THE BOARD OF ANY POSSIBLE CONFLICTS. THE BOARD REQUIRES DISCLOSURE AT BOARD MEETINGS FOR APPROVAL OF ANY PROJECTS REQUIRING A VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THIS INFORMATION IS AVAILABLE VIA WWW.GUIDESTAR.ORG
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THIS INFORMATION IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt0187474
IRS990/TotalAssetsGrp/BOYAmt0223585
IRS990/TotalAssetsGrp/EOYAmt0187474
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0409968
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt021015
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0372841
IRS990/TotalFunctionalExpensesGrp/TotalAmt0393856
IRS990/TotalGrossUBIAmt0-4152
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IRS990/TotalLiabilitiesEOYAmt01429
IRS990/TotalLiabilitiesGrp/BOYAmt049500
IRS990/TotalLiabilitiesGrp/EOYAmt01429
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IRS990/UponRequestInd0X
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IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033143
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0HTTP://WWW.THEACEFOUNDATION.ORG/
IRS990/WhistleblowerPolicyInd01
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DANIEL DIAZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03056692906
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ACE FOUNDATION INC
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ReturnHeader/Filer/EIN0260302036
ReturnHeader/Filer/PhoneNum03056692906
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ReturnHeader/Filer/USAddress/CityNm0MIAMI
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033143
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0204946415
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HLB GRAVIER LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0396 ALHAMBRA CIRCLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CORAL GABLES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
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ReturnHeader/PreparerPersonGrp/PhoneNum03054463022
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LEONARDO D GRAVIER

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$187,474
Liabilities
$1,429
Net assets
$186,045
Revenue
$405,816
Expenses
$393,856
Net income
$11,960
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.15$0.01$1.14$0.90$1.06$0.16
2023Detailed filing. Detailed filing data is available for this year.$1.30$0.00$1.30$1.10$1.00$0.10
2022Detailed filing. Detailed filing data is available for this year.$1.20$0.00$1.20$2.08$1.06$1.02
2021Detailed filing. Detailed filing data is available for this year.$0.19$0.00$0.19$0.41$0.39$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.22$0.05$0.17$0.56$0.53$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.15$0.01$0.14$0.69$0.79$0.10
2018Detailed filing. Detailed filing data is available for this year.$0.26$0.03$0.24$3.65$3.74$0.08
2017Detailed filing. Detailed filing data is available for this year.$0.36$0.04$0.32$2.58$2.54$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.35$0.07$0.28$0.50$0.22$0.28
2015Detailed filing. Detailed filing data is available for this year.$0.13$0.14$0.00$0.12$0.14$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.05$0.04$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.02$0.01$0.01