Civic Intelligence

Ace Museum

990 • Fiscal year 2014 • EIN 27-0410240

Jun 01, 2013 to May 31, 2014 • Filed on Jan 12, 2015

Organization ProfileN/A
5514 Wilshire Blvd90036

(323) 935-4824

Siviq Scores

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

Liabilities / Assets

100th percentile

17.52x

Higher debt load relative to assets than 100% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

99th percentile

17.26x

Higher debt load relative to revenue than 99% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

1st percentile

-256%

Higher net margin than 1% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

92nd percentile

50%

Faster asset growth than 92% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

90th percentile

64%

Faster revenue growth than 90% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets100th percentile

Assets

Up

$322,688

Up $107,358 (+50%) from 2013

Net Assets

Down

-$5,331,234

Down $839,902 (-19%) from 2013

Liabilities

Up

$5,653,922

Up $947,260 (+20%) from 2013

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

$327,632

No earlier filing loaded for comparison.

Expenses

Up

$1,167,534

Up $34,590 (+3.1%) from 2013

Net Income

-$839,902

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$10M$5.0M$0-$5.0M-$10MAssets 2011: $147,762Liabilities 2011: $2,447,194Net Assets 2011: -$2,299,4322011Assets 2012: $292,257Liabilities 2012: $4,042,435Net Assets 2012: -$3,750,1782012Assets 2013: $215,330Liabilities 2013: $4,706,662Net Assets 2013: -$4,491,3322013Assets 2014: $322,688Liabilities 2014: $5,653,922Net Assets 2014: -$5,331,2342014Assets 2015: $223,224Liabilities 2015: $6,687,248Net Assets 2015: -$6,464,0242015

Highlighted filing

2014

Assets$322,688
Liabilities$5,653,922
Net Assets-$5,331,234
Open 2014 Filing

Operations Trend

Revenue Growth90th percentile

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2011: $74,850Expenses 2011: $2,003,637Net Income 2011: -$1,928,7872011Expenses 2012: $1,498,8252012Expenses 2013: $1,132,9442013Revenue 2014: $327,632Expenses 2014: $1,167,534Net Income 2014: -$839,9022014Revenue 2015: $102,525Expenses 2015: $1,235,313Net Income 2015: -$1,132,7882015

Highlighted filing

2014

Revenue$327,632
Expenses$1,167,534
Net Income-$839,902
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2013 to May 31, 2014
Signed
Jan 12, 2015
Return Version
2013v4.0
Gross Receipts
$1,268,146
Mission and Program Overview

Mission

Ace Museum is an institution for the contemporay arts, focusing upon exhibitions with the international leaders and the cutting edge artists of our time concentrating upon fine art of all media, photography, architecture, design and fashion. The Museum will present exhibitions of important figures or movementsthat might not otherwise tour to Los Angeles. The main purpose of the Musuem is to establish a museum for fine art, architecture, and design, and to provideart education and to advocate for increasing public support for art education.The museum will act as both a resource for those with limited or no access to arteducation, and as an adovcate for increasing the role of art education in public schools.

Museum exhibitions of Artist's artwork and sculptures on the third floor.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$4,594,091$5,029,651▲ $435,560
Land, Buildings, and Equipment, Net$209,835$217,017▲ $7,182
Cash and Non-Interest-Bearing Accounts$5,495$105,669▲ $100,174
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$215,330$322,688▲ $107,358
Other Assets Total-$2-
Liabilities
Unsecured Notes Loans Payable$85,000$593,000▲ $508,000
Accounts Payable and Accrued Expenses$18,032$16,033▼ $1,999
Other Liabilities$9,539$15,238▲ $5,699
Total Liabilities$4,706,662$5,653,922▲ $947,260
Net Assets / Fund Balance
Unrestricted Net Assets$-4,491,332$-5,331,234▼ $839,902
Total Net Assets Fund Balance$-4,491,332$-5,331,234▼ $839,902
Total Liabilities and Net Assets / Fund Balance$215,330$322,688▲ $107,358

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$217,017-$217,017
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Douglas ChrismasPresident
Andrea NasherDirector
Fredrick NicholasDirector
Scott SchaeferDirector
Jennifer KellenSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$329,975
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-2,343
All Other Contributions
$329,975
Change in Net Assets
$-839,902
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,163,074
Salaries, Compensation, and Employee Benefits$4,460
Total Fundraising Expense$1,733
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy-$1,129,560-$1,129,560
Insurance-$8,919-$8,919
Fees for Services Legal-$8,261-$8,261
Other Salaries and Wages-$4,010-$4,010
Office Expenses-$2,421-$2,421
All Other Expenses-$485$539$1,024
Other Expenses-$2,266$896$896
Payroll Taxes-$450-$450
Advertising--$298$298
Total Functional Expenses$0$1,165,801$1,733$1,167,534
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$4,594,091$5,029,651▲ $435,560
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$9,000
Payroll Taxes$6,238
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

EIN
27-0410240
Phone
3239354824

Signing Officer

Name
Douglas Chrismas
Title
President
Signed
2015-01-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas Chrismas
Formed
2009
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
0
Employees
0

Preparer

Preparer
Shirley Holst CPA
Phone
3103919542
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IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0215330
IRS990/TotalAssetsEOYAmt0322688
IRS990/TotalAssetsGrp/BOYAmt0215330
IRS990/TotalAssetsGrp/EOYAmt0322688
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0329975
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt01733
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01165801
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01167534
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04706662
IRS990/TotalLiabilitiesEOYAmt05653922
IRS990/TotalLiabilitiesGrp/BOYAmt04706662
IRS990/TotalLiabilitiesGrp/EOYAmt05653922
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-4491332
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-5331234
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-2343
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0327632
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0215330
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0322688
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IRS990/TravelGrp/TotalAmt00
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IRS990/UnrelatedBusIncmOverLimitInd0false
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt085000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0593000
IRS990/USAddress/AddressLine105514 Wilshire Blvd
IRS990/USAddress/City0Los Angeles
IRS990/USAddress/State0CA
IRS990/USAddress/ZIPCode090036
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Douglas Chrismas
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-01-12
ReturnHeader/Filer/BusinessName/BusinessNameLine10ACE MUSEUM
ReturnHeader/Filer/BusinessNameControlTxt0ACEM
ReturnHeader/Filer/EIN0270410240
ReturnHeader/Filer/PhoneNum03239354824
ReturnHeader/Filer/USAddress/AddressLine105514 WILSHIRE BLVD
ReturnHeader/Filer/USAddress/City0LOS ANGELES
ReturnHeader/Filer/USAddress/State0CA
ReturnHeader/Filer/USAddress/ZIPCode090036
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10Shirley Holst CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1013212 Dewey St
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0Los Angeles
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode090066
ReturnHeader/PreparerPersonGrp/PhoneNum03103919542
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Shirley Holst CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02015-01-12T10:51:46-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-06-01
ReturnHeader/TaxPeriodEndDt02014-05-31
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$322,688
Liabilities
$5,653,922
Net assets
-$5,331,234
Revenue
$327,632
Expenses
$1,167,534
Net income
-$839,902
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$0.22$6.69$6.46$0.10$1.24$1.13
2014Detailed filing. Detailed filing data is available for this year.$0.32$5.65$5.33$0.33$1.17$0.84
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$4.71$4.49$1.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.29$4.04$3.75$1.50
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.15$2.45$2.30$0.07$2.00$1.93