Civic Intelligence

Ace Foundation

EIN 46-3200311 • 501(c)3 • Washington, DC

Profile

To improve the quality of life for asian and pacific islander americans by assisting the asian american and pacific islander (aapi) community through business education and training, research, and community development.

1300 Pennsylvania Avenue NW 700Washington, DC 20004

www.nationalace.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

57th percentile

0.11x

Higher debt load relative to assets than 57% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

56th percentile

0.11x

Higher debt load relative to revenue than 56% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

80th percentile

28%

Higher net margin than 80% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

57th percentile

$0

Higher top officer pay than 57% of similar nonprofits.

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

87th percentile

37%

Faster asset growth than 87% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

73rd percentile

25%

Faster revenue growth than 73% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$3,366,612

Up $914,179 (+37%) from 2023

Liabilities

Up

$367,269

Up $13,273 (+3.7%) from 2023

Net Assets

Up

$2,999,343

Up $900,906 (+43%) from 2023

Revenue

Up

$3,207,046

Up $641,838 (+25%) from 2023

Expenses

Up

$2,300,807

Up $67,474 (+3.0%) from 2023

Net Income

Up

$906,239

Up $574,364 (+173%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2013: $379,175Liabilities 2013: $0Net Assets 2013: $379,1752013Assets 2014: $526,121Liabilities 2014: $33,109Net Assets 2014: $493,0122014Assets 2015: $731,731Liabilities 2015: $130,355Net Assets 2015: $601,3762015Assets 2016: $878,581Liabilities 2016: $81,632Net Assets 2016: $796,9492016Assets 2017: $648,322Liabilities 2017: $9,854Net Assets 2017: $638,4682017Assets 2018: $610,703Liabilities 2018: $182Net Assets 2018: $610,5212018Assets 2019: $599,695Liabilities 2019: $0Net Assets 2019: $599,6952019Assets 2020: $657,732Liabilities 2020: $30,905Net Assets 2020: $626,8272020Assets 2021: $2,377,771Liabilities 2021: $372,520Net Assets 2021: $2,005,2512021Assets 2022: $2,162,590Liabilities 2022: $409,949Net Assets 2022: $1,752,6412022Assets 2023: $2,452,433Liabilities 2023: $353,996Net Assets 2023: $2,098,4372023Assets 2024: $3,366,612Liabilities 2024: $367,269Net Assets 2024: $2,999,3432024

Highlighted filing

2024

Assets$3,366,612
Liabilities$367,269
Net Assets$2,999,343

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2013: $413,501Expenses 2013: $34,326Net Income 2013: $379,1752013Revenue 2014: $408,216Expenses 2014: $294,379Net Income 2014: $113,8372014Revenue 2015: $394,861Expenses 2015: $343,491Net Income 2015: $51,3702015Revenue 2016: $456,549Expenses 2016: $260,976Net Income 2016: $195,5732016Revenue 2017: $431,816Expenses 2017: $356,069Net Income 2017: $75,7472017Revenue 2018: $272,500Expenses 2018: $300,447Net Income 2018: -$27,9472018Revenue 2019: $311,710Expenses 2019: $322,536Net Income 2019: -$10,8262019Revenue 2020: $387,420Expenses 2020: $360,288Net Income 2020: $27,1322020Revenue 2021: $4,925,952Expenses 2021: $3,547,528Net Income 2021: $1,378,4242021Revenue 2022: $4,126,452Expenses 2022: $4,379,062Net Income 2022: -$252,6102022Revenue 2023: $2,565,208Expenses 2023: $2,233,333Net Income 2023: $331,8752023Revenue 2024: $3,207,046Expenses 2024: $2,300,807Net Income 2024: $906,2392024

Highlighted filing

2024

Revenue$3,207,046
Expenses$2,300,807
Net Income$906,239

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jun 17, 2025
Return Version
2024v5.1
Gross Receipts
$3,207,046
Mission and Program Overview

Mission

To improve the quality of life for asian and pacific islander americans by assisting the asian american and pacific islander (aapi) community through business education and training, research, and community development.

Improve the quality of life for asian and pacific islander americans through business education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,527,321$2,356,061▲ $828,740
Cash and Non-Interest-Bearing Accounts$872,561$856,131▼ $16,430
Pledges and Grants Receivable$48,438$100,000▲ $51,562
Prepaid Expenses and Deferred Charges$2,338$52,645▲ $50,307
Total Assets$2,452,433$3,366,612▲ $914,179
Other Assets Total$1,775$1,775→ $0
Liabilities
Other Liabilities$267,225$298,754▲ $31,529
Accounts Payable and Accrued Expenses$63,333$68,515▲ $5,182
Grants Payable$23,438$0▼ $23,438
Total Liabilities$353,996$367,269▲ $13,273
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,988,437$2,594,343▲ $605,906
Net Assets With Donor Restrictions$110,000$405,000▲ $295,000
Total Net Assets Fund Balance$2,098,437$2,999,343▲ $900,906
Total Liabilities and Net Assets / Fund Balance$2,452,433$3,366,612▲ $914,179
Compensation and Service Providers

Board Members and Trustees

NameTitle
Karen EngChair
Chiling TongPresident and CEO
Jimmy FergusonVice Chair
Bill ImadaDirector
Bin YuDirector
Cy ChenDirector
Dennis HuangDirector
FA'AMOANA UTA'IDirector
Melody ChenDirector
Narumi InatsuguDirector
Shau-wai LamDirector
Susan Jin DavisDirector
Tammy FunasakiDirector
Chewy JangDirector (through January)
Ian SoDirector (through January)
Marty LorenzoDirector (through January)
Amit BhatnagarSecretary (through January)
Tracey DoiTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
National AceManagement & Administrative Svcs1300 PENSYLVANIA AVENUE NW 700, Washington, DC 20004$853,750
Revenue and Support

Revenue Composition

Contributions and Grants
$3,017,578
Program Service Revenue
$105,245
Investment Income
$84,223
Other Revenue
$0
All Other Contributions
$3,017,578
Change in Net Assets
$906,239

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Works of Art4$20,000Fair Market Value (FMV)
Total Noncash Contributions4$20,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,344,763
Other Expenses$956,044
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,344,763--$1,344,763
Fees for Services Management-$460,000-$460,000
Payments to Affiliates$300,000--$300,000
Conferences and Meetings$187,345--$187,345
Insurance-$3,226-$3,226
Fees for Services Accounting-$3,090-$3,090
Other Expenses-$1,999-$1,999
Office Expenses-$234-$234
Fees for Service Investment Mgmnt Fees-$150-$150
Total Functional Expenses$1,832,108$468,699$0$2,300,807
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Native Fields LLCWalnut, CA-Reopening or Capacity Building for Restaurants$25,000
Nom Wah Nolita IncNew York, NY-Reopening or Capacity Building for Restaurants$25,000
Pho Loan IncChicago, IL-Reopening or Capacity Building for Restaurants$25,000
National AceWashington, DC-Scholarship$15,000
2d Restaurant Lakeview LLCChicago, IL-Reopening or Capacity Building for Restaurants$10,000
2peasdmd LLCSeaside, CA-Reopening or Capacity Building for Restaurants$10,000
88 Plates LLCChicago, IL-Reopening or Capacity Building for Restaurants$10,000
A Taste of the PhilippinesChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Amber Agave LLCChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Amlag & Quibuyen LLCSeattle, WA-Reopening or Capacity Building for Restaurants$10,000
As Thai Cuisine LLCNorth Richland Hills, TX-Reopening or Capacity Building for Restaurants$10,000
Aunties Aloha Cafe Ii LpGardena, CA-Reopening or Capacity Building for Restaurants$10,000
Banh Mi Saigon BaguetteMelbourne, FL-Reopening or Capacity Building for Restaurants$10,000
Bfw Group LLCStockbridge, GA-Reopening or Capacity Building for Restaurants$10,000
Bh Life LLCHonolulu, HI-Reopening or Capacity Building for Restaurants$10,000
Bhanchha Ghar Ii IncElmhurst, NY-Reopening or Capacity Building for Restaurants$10,000
Boonie Foods LLCSkokie, IL-Reopening or Capacity Building for Restaurants$10,000
Bueno Chi IncLos Angeles, CA-Reopening or Capacity Building for Restaurants$10,000
Caphe Roasters LLCPhiladelphia, PA-Reopening or Capacity Building for Restaurants$10,000
Cocobella Creamery LLCTorrance, CA-Reopening or Capacity Building for Restaurants$10,000
Dao Thai RestaurantChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Drip Collective LLCChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Evergreen Foods LLCHouston, TX-Reopening or Capacity Building for Restaurants$10,000
Gathers Tea Bar LLCChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Grindwittryz LLCPortland, OR-Reopening or Capacity Building for Restaurants$10,000
Guerrilla Dining ConceptsAustin, TX-Reopening or Capacity Building for Restaurants$10,000
Hahm Ji Bach Catering Services IncFlushing, NY-Reopening or Capacity Building for Restaurants$10,000
Hainan Chicken IncNew York, NY-Reopening or Capacity Building for Restaurants$10,000
Handsome Rice IncNew York, NY-Reopening or Capacity Building for Restaurants$10,000
Harana Market LLCAccord, NY-Reopening or Capacity Building for Restaurants$10,000
Harmony Coffee BarHighland Park, IL-Reopening or Capacity Building for Restaurants$10,000
Infinite Nine LLCChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Italian Express Chicago LLCChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Jade Raquel Inc Dba Whired WineSacramento, CA-Reopening or Capacity Building for Restaurants$10,000
Jan Park Cookery LLCTacoma, WA-Reopening or Capacity Building for Restaurants$10,000
Jypg Investments LLCFullerton, CA-Reopening or Capacity Building for Restaurants$10,000
Klai Kungwan LLCNew York, NY-Reopening or Capacity Building for Restaurants$10,000
Koffeteria LLCHouston, TX-Reopening or Capacity Building for Restaurants$10,000
Kumraimarc LLCNew York, NY-Reopening or Capacity Building for Restaurants$10,000
Mee Sum Coffee ShopNew York, NY-Reopening or Capacity Building for Restaurants$10,000
Minahasa LLCChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Nhinja Sushi LLCEdmond, OK-Reopening or Capacity Building for Restaurants$10,000
Norsang Cafe IncLong Island City, NY-Reopening or Capacity Building for Restaurants$10,000
Novel Pizza LLCChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Parachute Restaurant LLCChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Pasteur Grill & Noodles IncNew York, NY-Reopening or Capacity Building for Restaurants$10,000
Pkr LLCDenver, CO-Reopening or Capacity Building for Restaurants$10,000
Pokeramen IncPort Hueneme, CA-Reopening or Capacity Building for Restaurants$10,000
Pork Chop Express LLCBellaire, TX-Reopening or Capacity Building for Restaurants$10,000
Puck&seePhiladelphia, PA-Reopening or Capacity Building for Restaurants$10,000
Quach Brothers IncPflugerville, TX-Reopening or Capacity Building for Restaurants$10,000
Rabbit Box Hospitality LLCNew York, NY-Reopening or Capacity Building for Restaurants$10,000
Roebling Pizza LLCBrooklyn, NY-Reopening or Capacity Building for Restaurants$10,000
S&t Revelry Holdings IncSan Francisco, CA-Reopening or Capacity Building for Restaurants$10,000
Scoop LLCStoneham, MA-Reopening or Capacity Building for Restaurants$10,000
Short N Sweet Bakery Market Cafe LlHilo, HI-Reopening or Capacity Building for Restaurants$10,000
Spinzer Restaurant IncChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Stockton Fusion RestaurantStockton, CA-Reopening or Capacity Building for Restaurants$10,000
Sugoi SweetsChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Sum Bar LLCGreenville, SC-Reopening or Capacity Building for Restaurants$10,000
Sunday Dreamin LLCNew York, NY-Reopening or Capacity Building for Restaurants$10,000
Susu Leong LLCPhoenix, AZ-Reopening or Capacity Building for Restaurants$10,000
Tasty Doux LLCAuburn, WA-Reopening or Capacity Building for Restaurants$10,000
Teriyaki PlusShoreline, WA-Reopening or Capacity Building for Restaurants$10,000
The Star of Siam Inc W9Chicago, IL-Reopening or Capacity Building for Restaurants$10,000
Tj Kim LLCChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Two Little Dumplings LLCSelkirk, NY-Reopening or Capacity Building for Restaurants$10,000
UNCLE MIKE'S PLACEChicago, IL-Reopening or Capacity Building for Restaurants$10,000
United Season Seafood LLCDunwoody, GA-Reopening or Capacity Building for Restaurants$10,000
United Texas Global LLCHouston, TX-Reopening or Capacity Building for Restaurants$10,000
Verzenay ChicagoChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Whiskey Kitchen LLCSeattle, WA-Reopening or Capacity Building for Restaurants$10,000
White Springs CafeArcadia, CA-Reopening or Capacity Building for Restaurants$10,000
Wo Hop 17 IncNew York, NY-Reopening or Capacity Building for Restaurants$10,000
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 Affiliate$298,754
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The management and administrative services agreement ("agreement") is made by and between the asian & pacific islander american chamber of commerce and entrepreneurship, a district of columbia nonprofit corporation ("ace") and the ace foundation, a district of columbia nonprofit corporation (the "foundation"). Management and administrative services includes, but is not limited to: (a) supervision of all persons who perform compensated services on behalf of the foundation (b) administration of all funds received by the foundation (c) maintenance of accurate, complete, and separate financial records (d) acknowledgment of contributions (e) control

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

Form 990 is prepared by outside accountants and reviewed by the president & ceo and the board of directors before filing with the internal revenue service.

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

In adherence to the conflict of interest policy, board of directors and staff must disclose any conflicts of interest and abstain from voting on any matters for which he or she has a conflict. The member with a conflict recuses himself or herself from the discussion, and the remaining board members resolve the matter in what is deemed the best interest of the foundation.

Form 990, Part VI, Section B, Line 15

The foundation does not directly hire or compensate employees. All employees are employees of asian & pacific islander american chamber of commerce & entrepreneurship (ace), an affiliated organization exempt under section 501(c)(6). Ace's board of directors establishes and approves the compensation for its president & ceo. Ace's executive/governance committee reviews compensation findings and provides recommendations and guidance on the compensation package. After reviewing the report findings and considering the data regarding comparable compensation for similarly qualified individuals in functionally comparable positions at similarly situated organizations, the executive/governance committee takes action and recommends the compensation package for the president & ceo. The process was last conducted in december 2023.

Form 990, Part VI, Section C, Line 19

The organization makes available upon request the following: 1. Governing documents 2. Conflict of interest policy 3. Financial statements

Filing and Contact Details

Filer

Filer Name
Ace Foundation
EIN
46-3200311
Phone
2022042579
Address
1300 PENNSYLVANIA AVENUE NW 700, WASHINGTON, DC 20004
Doing Business As
National Ace Foundation

Signing Officer

Name
Chiling Tong
Title
President and CEO
Phone
2022042579
Signed
2025-06-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chiling Tong
Formed
2013
Legal Domicile
Dc
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
17

Preparer

Firm
Han Group LLC
Address
1020 19TH STREET NW SUITE 800, WASHINGTON, DC 20036
Preparer
Jennifer S Han
Phone
2022937000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The organization follows the authoritative guidance relating to accounting for uncertainty in income taxes included in accounting standards codification topic 740-10, income taxes. These provisions provide consistent guidance for the accounting for uncertainty in income taxes recognized in an entity's financial statements and prescribe a threshold of "more likely than not" for recognition and derecognition of tax positions taken or expected to be taken in a tax return. It is the organization's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expenses. The organization performed an evaluation of uncertain tax positions for the year ended december 31, 2024 and determined that there were no matters that would require recognition in the consolidated financial statements or that may have any effect on its tax-exempt status. The statute of limitations generally remains open for three tax years with the u.s. Federal jurisdiction or the various states and local jurisdictions in which the organization files tax returns.

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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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IRS990/Form990PartVIISectionAGrp/PersonNm4CY CHEN
IRS990/Form990PartVIISectionAGrp/PersonNm5MELODY CHEN
IRS990/Form990PartVIISectionAGrp/PersonNm6SUSAN JIN DAVIS
IRS990/Form990PartVIISectionAGrp/PersonNm7TAMMY FUNASAKI
IRS990/Form990PartVIISectionAGrp/PersonNm8DENNIS HUANG
IRS990/Form990PartVIISectionAGrp/PersonNm9BILL IMADA
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IRS990/Form990PartVIISectionAGrp/PersonNm11CHEWY JANG
IRS990/Form990PartVIISectionAGrp/PersonNm12SHAU-WAI LAM
IRS990/Form990PartVIISectionAGrp/PersonNm13MARTY LORENZO
IRS990/Form990PartVIISectionAGrp/PersonNm14IAN SO
IRS990/Form990PartVIISectionAGrp/PersonNm15FA'AMOANA UTA'I
IRS990/Form990PartVIISectionAGrp/PersonNm16BIN YU
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY (THROUGH JANUARY)
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR (THROUGH JANUARY)
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR (THROUGH JANUARY)
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR (THROUGH JANUARY)
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17PRESIDENT AND CEO
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02013
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IRS990/GrossReceiptsAmt03207046
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IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0TO IMPROVE THE QUALITY OF LIFE FOR ASIAN AND PACIFIC ISLANDER AMERICANS BY ASSISTING THE ASIAN AMERICAN AND PACIFIC ISLANDER (AAPI) AND ALL SMALL BUSINESS COMMUNITIES THROUGH BUSINESS EDUCATION AND TRAINING, RESEARCH, AND COMMUNITY DEVELOPMENT.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt02098437
IRS990/NetAssetsOrFundBalancesEOYAmt02999343
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-5333
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01988437
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt02594343
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IRS990/NoncashContributionsAmt020000
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0234
IRS990/OfficeExpensesGrp/TotalAmt0234
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IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
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IRS990/OtherAssetsTotalGrp/BOYAmt01775
IRS990/OtherAssetsTotalGrp/EOYAmt01775
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IRS990/OtherLiabilitiesGrp/BOYAmt0267225
IRS990/OtherLiabilitiesGrp/EOYAmt0298754
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IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0CONFERENCE REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0105245
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0105245
IRS990/ProgSrvcAccomActy2Grp/Desc0ECONOMIC DEVELOPMENT - ACE FOUNDATION EDUCATES LOCAL AND REGIONAL AAPI CHAMBERS OF COMMERCE, MOU PARTNERS, AND OTHER STAKEHOLDERS ACROSS THE COUNTRY TO PROVIDE INNOVATIVE BUSINESS SOLUTIONS THROUGH QUALITY PROGRAMS AND SERVICES. ACE FOUNDATION ALSO CONTRIBUTES TO OUR NATION'S ECONOMIC GROWTH, BUSINESS DEVELOPMENT, AND GOVERNMENT EFFICIENCY BY SUPPORTING PROGRAMS AND POLICIES THAT CREATE MORE AAPI BUSINESS OWNERS, ENTREPRENEURS, AND CORPORATE LEADERS. IN 2024, ACE FOUNDATION HELD 4 MULTI-WEEK ACCELERATORS WITH 2,804 ATTENDEES.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0254826
IRS990/ProgSrvcAccomActy2Grp/GrantAmt07225
IRS990/ProgSrvcAccomActy3Grp/Desc0EDUCATION - ACE FOUNDATION WORKS TO EDUCATE ASIAN AMERICAN AND PACIFIC ISLANDER AND ALL SMALL BUSINESS COMMUNITIES ON ISSUES THAT WILL DIRECTLY IMPROVE THEIR ECONOMIC, POLITICAL, AND SOCIAL WELL-BEING. ACE FOUNDATION HOSTS EVENTS AIMED TO HELP EDUCATE MINORITY AND ALL BUSINESS COMMUNITIES. THESE EVENTS INCLUDE ROUNDTABLES AND SYMPOSIUMS COORDINATED WITH FEDERAL GOVERNMENT AGENCIES. MANY OF THESE EVENTS ARE VIRTUAL WEBINARS WHICH COVER TOPICS AROUND ACCESS TO CAPITAL, CONTRACTING OPPORTUNITIES, GRANT WRITING, RETIREMENT SECURITY, FINANCIAL CAPACITY, AND CHALLENGES FACING MINORITY BUSINESS OWNERS. IN 2024, ACE FOUNDATION HAD A TOTAL OF 3,159 IN-PERSON ATTENDEES AND 3,839 WEBINAR ATTENDEES. WE HAD A TOTAL OF 970 ATTENDEES AT OUR SMALL BUSINESS ROUNDTABLES AND 1,416 AT OUR SIGNATURE EVENTS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0246969
IRS990/ProgSrvcAccomActy3Grp/GrantAmt07225
IRS990/ProgSrvcAccomActyOtherGrp/Desc0OTHER PROGRAMS
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IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt070313
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IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02549006
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IRS990/PYGrantsAndSimilarPaidAmt01343438
IRS990/PYInvestmentIncomeAmt013402
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IRS990/PYOtherRevenueAmt02800
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IRS990/RevenueAmt0105245
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS REVENUE - 2023 AMOUNT: $ 1,000. SPEAKER FEES - 2023 AMOUNT: $ 1,800.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0297402
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt018
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt097643
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0490246
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IRS990ScheduleA/OtherIncome170Grp/TotalAmt02800
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.34900
IRS990ScheduleA/PublicSupportPY170Pct00.34360
IRS990ScheduleA/PublicSupportTotal170Amt05137569
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt02549006
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt03854681
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt04902722
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0297402
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt014621389
IRS990ScheduleA/TotalSupportAmt014721832
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0298754
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS THE AUTHORITATIVE GUIDANCE RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES INCLUDED IN ACCOUNTING STANDARDS CODIFICATION TOPIC 740-10, INCOME TAXES. THESE PROVISIONS PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. IT IS THE ORGANIZATION'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSES. THE ORGANIZATION PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED DECEMBER 31, 2024 AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. THE STATUTE OF LIMITATIONS GENERALLY REMAINS OPEN FOR THREE TAX YEARS WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH THE ORGANIZATION FILES TAX RETURNS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalLiabilityAmt0298754
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt025000
IRS990ScheduleI/RecipientTable/CashGrantAmt125000
IRS990ScheduleI/RecipientTable/CashGrantAmt225000
IRS990ScheduleI/RecipientTable/CashGrantAmt315000
IRS990ScheduleI/RecipientTable/CashGrantAmt410000
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IRS990ScheduleI/RecipientTable/CashGrantAmt610000
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IRS990ScheduleI/RecipientTable/CashGrantAmt1110000
IRS990ScheduleI/RecipientTable/CashGrantAmt1210000
IRS990ScheduleI/RecipientTable/CashGrantAmt1310000
IRS990ScheduleI/RecipientTable/CashGrantAmt1410000
IRS990ScheduleI/RecipientTable/CashGrantAmt1510000
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IRS990ScheduleI/RecipientTable/CashGrantAmt1710000
IRS990ScheduleI/RecipientTable/CashGrantAmt1810000
IRS990ScheduleI/RecipientTable/CashGrantAmt1910000
IRS990ScheduleI/RecipientTable/CashGrantAmt2010000
IRS990ScheduleI/RecipientTable/CashGrantAmt2110000
IRS990ScheduleI/RecipientTable/CashGrantAmt2210000
IRS990ScheduleI/RecipientTable/CashGrantAmt2310000

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