Civic Intelligence

National Ace Foundation

990 • Fiscal year 2021 • EIN 46-3200311

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 04, 2022

Organization ProfileWWW.NATIONALACE.ORG
1300 Pennsylvania Avenue NW 700Washington, DC 20004

(202) 204-2579

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.16x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

47th percentile

0.08x

Higher debt load relative to revenue than 47% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

72nd percentile

28%

Higher net margin than 72% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

91st percentile

$207,327

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

98th percentile

262%

Faster asset growth than 98% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

99th percentile

1171%

Faster revenue growth than 99% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$2,377,771

Up $1,720,039 (+262%) from 2020

Net Assets

Up

$2,005,251

Up $1,378,424 (+220%) from 2020

Liabilities

Up

$372,520

Up $341,615 (+1105%) from 2020

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin72nd percentile

Revenue

Up

$4,925,952

Up $4,538,532 (+1171%) from 2020

Expenses

Up

$3,547,528

Up $3,187,240 (+885%) from 2020

Net Income

Up

$1,378,424

Up $1,351,292 (+4980%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$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

2021

Assets$2,377,771
Liabilities$372,520
Net Assets$2,005,251
Open 2021 Filing

Operations Trend

Revenue Growth99th percentile

Revenue, expenses, and net income across loaded years, with this 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

2021

Revenue$4,925,952
Expenses$3,547,528
Net Income$1,378,424
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 4, 2022
Return Version
2021v4.2
Gross Receipts
$4,925,952
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$606,316$2,148,826▲ $1,542,510
Accounts Receivable$14,000$200,000▲ $186,000
Savings and Temporary Cash Investments$10,018--
Prepaid Expenses and Deferred Charges$617$2,164▲ $1,547
Total Assets$657,732$2,377,771▲ $1,720,039
Other Assets Total$26,781$26,781→ $0
Liabilities
Other Liabilities$30,905$300,749▲ $269,844
Deferred Revenue-$71,771-
Total Liabilities$30,905$372,520▲ $341,615
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$601,827$1,174,182▲ $572,355
Net Assets With Donor Restrictions$25,000$831,069▲ $806,069
Total Net Assets Fund Balance$626,827$2,005,251▲ $1,378,424
Total Liabilities and Net Assets / Fund Balance$657,732$2,377,771▲ $1,720,039
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleBaseOtherTotal
Daniel C OliverCOO$12,781$131,428$144,209
Chiling TongPresident & CEO$9,239$198,088$9,239

Board Members and Trustees

NameTitle
Dennis HuangCo-chair
Jimmy FergusonCo-chair
Amit BhatnagarDirector
Bill ImadaDirector
Cy ChenDirector
Helene YanDirector
Marty LorenzoDirector
Pat Fong KushidaDirector
Shau-wai LamDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$4,902,722
Program Service Revenue
$23,230
Investment Income
$0
Other Revenue
$0
All Other Contributions
$4,902,722
Change in Net Assets
$1,378,424

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,925,952
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$4,925,952
Total Revenue per Form 990
$4,925,952
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,063,000
Other Expenses$1,350,361
Salaries, Compensation, and Employee Benefits$134,167
Total Fundraising Expense$13,250
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,063,000--$2,063,000
Fees for Services Other$908,355--$908,355
Fees for Services Management$212,000$39,750$13,250$265,000
Other Salaries and Wages$124,928--$124,928
Other Expenses$20,000--$20,000
Current Officers, Directors, Trustees, and Key Employees$9,239--$9,239
Conferences and Meetings$5,833--$5,833
Fees for Services Accounting-$2,304-$2,304
All Other Expenses-$1,430-$1,430
Insurance-$1,350-$1,350
Total Functional Expenses$3,489,444$44,834$13,250$3,547,528

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,547,528
Total Expenses per Audited Statements$3,547,528
Total Expenses per Form 990$3,547,528
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Yen Jing Chinese RestaurantDoraville, GA-Reopening or Capacity Building for Restaurants$15,000
1169 TUNG'S GARDEN INCLima, PA-Reopening or Capacity Building for Restaurants$10,000
456 New Shanghai IncNew York, NY-Reopening or Capacity Building for Restaurants$10,000
971 Restaurant Crew IncDenver, CO-Reopening or Capacity Building for Restaurants$10,000
AN'S FOOD ENTERPRISE INCAtlanta, GA-Reopening or Capacity Building for Restaurants$10,000
Abe CorporationWashington, DC-Reopening or Capacity Building for Restaurants$10,000
Anise IncLittleton, CO-Reopening or Capacity Building for Restaurants$10,000
Apple Burger LLCGainesville, GA-Reopening or Capacity Building for Restaurants$10,000
Arte CafeCerritos, CA-Reopening or Capacity Building for Restaurants$10,000
Asazu LLCAustin, TX-Reopening or Capacity Building for Restaurants$10,000
Asian Buffet Mt IncKalispell, MT-Reopening or Capacity Building for Restaurants$10,000
Asian Legend IncAnn Arbor, MI-Reopening or Capacity Building for Restaurants$10,000
Asian Washoku IncOverland Park, KS-Reopening or Capacity Building for Restaurants$10,000
Austin Chai WalaAustin, TX-Reopening or Capacity Building for Restaurants$10,000
Awesome Bites CoHouston, TX-Reopening or Capacity Building for Restaurants$10,000
B&b Restaurant Group LLCOakland, CA-Reopening or Capacity Building for Restaurants$10,000
BO'S CAFEKing George, VA-Reopening or Capacity Building for Restaurants$10,000
Bep BuiWemouth, MA-Reopening or Capacity Building for Restaurants$10,000
Bfw Group LLCStockbridge, GA-Reopening or Capacity Building for Restaurants$10,000
Blk Hospitality Group IncBrooklyn, NY-Reopening or Capacity Building for Restaurants$10,000
Blossom Awesome IncRenton, WA-Reopening or Capacity Building for Restaurants$10,000
Bobzip Innovation LLCAurora, CO-Reopening or Capacity Building for Restaurants$10,000
Bolicious IncTulsa, OK-Reopening or Capacity Building for Restaurants$10,000
Brothers Catering LLCSeattle, WA-Reopening or Capacity Building for Restaurants$10,000
Bubble Egg Garden OaksHouston, TX-Reopening or Capacity Building for Restaurants$10,000
Buddha Bodai Two Kosher Vegetarian Restaurant IncNew York, NY-Reopening or Capacity Building for Restaurants$10,000
C&s Food & Catering Services LLCGilbert, AZ-Reopening or Capacity Building for Restaurants$10,000
Cafe London Monochrome Coffee & TeaLos Angeles, CA-Reopening or Capacity Building for Restaurants$10,000
Chau ChowDorchester, MA-Reopening or Capacity Building for Restaurants$10,000
China King Palace IncPikesville, MD-Reopening or Capacity Building for Restaurants$10,000
China Sun IncSpokane, WA-Reopening or Capacity Building for Restaurants$10,000
Chinatown LLCHavana, IL-Reopening or Capacity Building for Restaurants$10,000
Co Do DeliSacramento, CA-Reopening or Capacity Building for Restaurants$10,000
Dalee Manna CorporationSan Clemente, CA-Reopening or Capacity Building for Restaurants$10,000
Dao International IncChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Daol TofuOakland, CA-Reopening or Capacity Building for Restaurants$10,000
Ddmi LLCVienna, VA-Reopening or Capacity Building for Restaurants$10,000
Deco Cafe FilipinianaSan Antonio, TX-Reopening or Capacity Building for Restaurants$10,000
Doma Restaurant IncSunnyside, NY-Reopening or Capacity Building for Restaurants$10,000
Double ChinBoston, MA-Reopening or Capacity Building for Restaurants$10,000
East Market and Goods LLCWoodway, TX-Reopening or Capacity Building for Restaurants$10,000
East West ConnectionSalt Lake City, UT-Reopening or Capacity Building for Restaurants$10,000
Ek Food IncReno, NV-Reopening or Capacity Building for Restaurants$10,000
Flavor of Seoul LLCWashington, UT-Reopening or Capacity Building for Restaurants$10,000
Foodies DestinationMetairie, LA-Reopening or Capacity Building for Restaurants$10,000
Fortune Garden IncSeattle, WA-Reopening or Capacity Building for Restaurants$10,000
Fresh Grill 1968 IncBaltimore, MD-Reopening or Capacity Building for Restaurants$10,000
G-gleLos Angeles, CA-Reopening or Capacity Building for Restaurants$10,000
GammeeokFort Lee, NJ-Reopening or Capacity Building for Restaurants$10,000
Ghin Na Ree ThaiArlington, VA-Reopening or Capacity Building for Restaurants$10,000
Glazers CoffeeHonolulu, HI-Reopening or Capacity Building for Restaurants$10,000
Global Modern Century LLCPhiladelphia, PA-Reopening or Capacity Building for Restaurants$10,000
Gyrostop LLCCitrus Heights, CA-Reopening or Capacity Building for Restaurants$10,000
Ha888 LLCAtlanta, GA-Reopening or Capacity Building for Restaurants$10,000
Haru Asian Cuisine IncAustin, TX-Reopening or Capacity Building for Restaurants$10,000
Heirloom Brew Shop LLCSacramento, CA-Reopening or Capacity Building for Restaurants$10,000
Hello ChickenAtlanta, GA-Reopening or Capacity Building for Restaurants$10,000
Her3 Enterprise LLCPlano, TX-Reopening or Capacity Building for Restaurants$10,000
Hikari Holdings LLCLas Vegas, NV-Reopening or Capacity Building for Restaurants$10,000
Homemade Good Morning Donuts IncMoore, OK-Reopening or Capacity Building for Restaurants$10,000
Honeymoon Cafe IncChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Hyp IncCambridge, MA-Reopening or Capacity Building for Restaurants$10,000
Ibk Family LLCAustin, TX-Reopening or Capacity Building for Restaurants$10,000
Ichi Japan ExpressRiverton, UT-Reopening or Capacity Building for Restaurants$10,000
Ike CorpBayside, NY-Reopening or Capacity Building for Restaurants$10,000
Iki Iki IncFeeding Hills, MA-Reopening or Capacity Building for Restaurants$10,000
J&h Breakfastology IncSan Francisco, CA-Reopening or Capacity Building for Restaurants$10,000
Jang Dok Dae CorpFlushing, NY-Reopening or Capacity Building for Restaurants$10,000
Jin Xin Xiang Food CorporationAnnapolis, MD-Reopening or Capacity Building for Restaurants$10,000
Jin&ye LLCNew Caney, TX-Reopening or Capacity Building for Restaurants$10,000
Js Brothers LLC Dba Hibachi BoyWaukesha, WI-Reopening or Capacity Building for Restaurants$10,000
JuicydropDecatur, GA-Reopening or Capacity Building for Restaurants$10,000
KADO'S ASIAN GRILLSacramento, CA-Reopening or Capacity Building for Restaurants$10,000
Kabob Stop LLCSouth Salt Lake City, UT-Reopening or Capacity Building for Restaurants$10,000
Kgurm IncMadras, OR-Reopening or Capacity Building for Restaurants$10,000
Khao Restaurant Group LLCDallas, TX-Reopening or Capacity Building for Restaurants$10,000
Kim Wah IncBel Air, MD-Reopening or Capacity Building for Restaurants$10,000
King & I CorpBoston, MA-Reopening or Capacity Building for Restaurants$10,000
Kokoro RestaurantEnglewood, CO-Reopening or Capacity Building for Restaurants$10,000
Kong Gook MaeulLos Angeles, CA-Reopening or Capacity Building for Restaurants$10,000
Koyo Restaurant IncSalt Lake City, UT-Reopening or Capacity Building for Restaurants$10,000
L LAM'S INCDes Plaines, IL-Reopening or Capacity Building for Restaurants$10,000
Lakeview Investment IncFarmington Hills, MI-Reopening or Capacity Building for Restaurants$10,000
Lanfeng IncSan Gabriel, CA-Reopening or Capacity Building for Restaurants$10,000
Le & Pham IncCambridge, MA-Reopening or Capacity Building for Restaurants$10,000
Lemongrass Thai Cuisine LLCLynnwood, WA-Reopening or Capacity Building for Restaurants$10,000
Lu Family IncWashington, DC-Reopening or Capacity Building for Restaurants$10,000
Luscious Dumplings Group IncArcadia, CA-Reopening or Capacity Building for Restaurants$10,000
Macku SushiChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Mae Asian EateryCambridge, MA-Reopening or Capacity Building for Restaurants$10,000
Miss692 LLCNorth Wales, PA-Reopening or Capacity Building for Restaurants$10,000
New China BuffetMitchell, SD-Reopening or Capacity Building for Restaurants$10,000
New China Taste IncFairfax, VA-Reopening or Capacity Building for Restaurants$10,000
New Country China Buffet LLCJackson, MI-Reopening or Capacity Building for Restaurants$10,000
Northern Pasta LLCHouston, TX-Reopening or Capacity Building for Restaurants$10,000
Nu Restaurants CorporationHouston, TX-Reopening or Capacity Building for Restaurants$10,000
Nv Food Venture LLCLas Vegas, NV-Reopening or Capacity Building for Restaurants$10,000
Ok Food Century LLCPhiladelphia, PA-Reopening or Capacity Building for Restaurants$10,000
Olio Culinary Cooperative CorporationSomerville, MA-Reopening or Capacity Building for Restaurants$10,000
Omg Squee LLCAustin, TX-Reopening or Capacity Building for Restaurants$10,000
Peach Farm RestaurantBoston, MA-Reopening or Capacity Building for Restaurants$10,000
Pearl Gourmet Express IncTaylorsville, UT-Reopening or Capacity Building for Restaurants$10,000
Peking North RestaurantSpokane, WA-Reopening or Capacity Building for Restaurants$10,000
Pham Enterprise LLCLancaster, PA-Reopening or Capacity Building for Restaurants$10,000
Pho 95 Vietnamese Restaurent and Noodle Bowls LLCDenver, CO-Reopening or Capacity Building for Restaurants$10,000
Pho Little SaigonSan Diego, CA-Reopening or Capacity Building for Restaurants$10,000
Pho Saigon Pennsylvania LLCPhiladelphia, PA-Reopening or Capacity Building for Restaurants$10,000
Pho Tay HoSalt Lake City, UT-Reopening or Capacity Building for Restaurants$10,000
Phoenix Pane Investments LLCWest Columbia, SC-Reopening or Capacity Building for Restaurants$10,000
Potstickers Plus 1 LLCSandy, UT-Reopening or Capacity Building for Restaurants$10,000
Rainbow Catering IncAnnandale, VA-Reopening or Capacity Building for Restaurants$10,000
Ramaya Group LLCAtlanta, GA-Reopening or Capacity Building for Restaurants$10,000
Rekava CafeProvo, UT-Reopening or Capacity Building for Restaurants$10,000
Renton Countryside Cafe LLCRenton, WA-Reopening or Capacity Building for Restaurants$10,000
Rice Cook IncFullerton, CA-Reopening or Capacity Building for Restaurants$10,000
Rich Harvest Foods LLCAustin, TX-Reopening or Capacity Building for Restaurants$10,000
Rodolfo Janeo LLCHenderson, NV-Reopening or Capacity Building for Restaurants$10,000
Ronmen Foods LLCPhiladelphia, PA-Reopening or Capacity Building for Restaurants$10,000
Royal Garden RestaurantHerndon, VA-Reopening or Capacity Building for Restaurants$10,000
Run He IncCatonsville, MD-Reopening or Capacity Building for Restaurants$10,000
S & J Poke BowlLutherville Timonium, MD-Reopening or Capacity Building for Restaurants$10,000
Saigon Bistro IncAurora, CO-Reopening or Capacity Building for Restaurants$10,000
Sangchai LLCOakland, CA-Reopening or Capacity Building for Restaurants$10,000
Sarah Qy LLCHouston, TX-Reopening or Capacity Building for Restaurants$10,000
Sari Sari SatxSan Antonio, TX-Reopening or Capacity Building for Restaurants$10,000
Sate TexasPflugerville, TX-Reopening or Capacity Building for Restaurants$10,000
Sb Sushi IncEverett, WA-Reopening or Capacity Building for Restaurants$10,000
Sbtc Services LLCCorpus Christi, TX-Reopening or Capacity Building for Restaurants$10,000
Sby Rg2-1101 LLCHindsdale, IL-Reopening or Capacity Building for Restaurants$10,000
Segullah IncCentreville, VA-Reopening or Capacity Building for Restaurants$10,000
Seorabol IncPhiladelphia, PA-Reopening or Capacity Building for Restaurants$10,000
Seoul Mama IncBloomington, IL-Reopening or Capacity Building for Restaurants$10,000
Shang-mian Hospitality LLCLas Vegas, NV-Reopening or Capacity Building for Restaurants$10,000
Shanghai Chinese RestaurantHouston, TX-Reopening or Capacity Building for Restaurants$10,000
Shu Ya IncSykesville, MD-Reopening or Capacity Building for Restaurants$10,000
Siam Royal IncLake Worth, FL-Reopening or Capacity Building for Restaurants$10,000
Siu Siu IncLas Vegas, NV-Reopening or Capacity Building for Restaurants$10,000
Six Lucky Cafe IncBrooklyn, NY-Reopening or Capacity Building for Restaurants$10,000
Snackboxe Bistro LLCDoraville, GA-Reopening or Capacity Building for Restaurants$10,000
Sobo Ramen IncOakland, CA-Reopening or Capacity Building for Restaurants$10,000
Star Food American IncLas Vegas, NV-Reopening or Capacity Building for Restaurants$10,000
Steve Breakfast and Coffee IncFlushing, NY-Reopening or Capacity Building for Restaurants$10,000
Sukeban LLCChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Sunny Pho LLCMadison, WI-Reopening or Capacity Building for Restaurants$10,000
Sunrise Middle Eastern Deli IncSan Francisco, CA-Reopening or Capacity Building for Restaurants$10,000
Sunville Bakery IncLas Vegas, NV-Reopening or Capacity Building for Restaurants$10,000
Super TeriyakiLynwood, CA-Reopening or Capacity Building for Restaurants$10,000
Sushi Oishii Ii IncRockville, MD-Reopening or Capacity Building for Restaurants$10,000
Sushi SaiMonterey Park, CA-Reopening or Capacity Building for Restaurants$10,000
Sushi Vill CorpSloatsburg, NY-Reopening or Capacity Building for Restaurants$10,000
Szechuan TasteNottingham, MD-Reopening or Capacity Building for Restaurants$10,000
T Capital Holdings LLCLas Vegas, NV-Reopening or Capacity Building for Restaurants$10,000
TIBET'S RESTAURANT & BAR LLCLouisville, CO-Reopening or Capacity Building for Restaurants$10,000
TOSH'S RAMEN HOLLADAY CORPHolladay, UT-Reopening or Capacity Building for Restaurants$10,000
Takumi Izakaya BarElk Grove, CA-Reopening or Capacity Building for Restaurants$10,000
Tamura Enterprises IncChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Taste of Pearl LLCHillsboro, OR-Reopening or Capacity Building for Restaurants$10,000
Tatang LLCGlendale, CA-Reopening or Capacity Building for Restaurants$10,000
Tbsit LLCWalnut Creek, CA-Reopening or Capacity Building for Restaurants$10,000
Tdy Eatery LLCGrapevine, TX-Reopening or Capacity Building for Restaurants$10,000
Tea StreetDenver, CO-Reopening or Capacity Building for Restaurants$10,000
Teaco LLCHouston, TX-Reopening or Capacity Building for Restaurants$10,000
Tl Foods LLCWorcester, MA-Reopening or Capacity Building for Restaurants$10,000
Tower News Stand & DeliAtlanta, GA-Reopening or Capacity Building for Restaurants$10,000
Towson Hot Pots IncTowson, MD-Reopening or Capacity Building for Restaurants$10,000
Triple Eight ManagementBoston, MA-Reopening or Capacity Building for Restaurants$10,000
Tso Delivery IncAustin, TX-Reopening or Capacity Building for Restaurants$10,000
Twin Dragon Restaurant IncEnglewood, CO-Reopening or Capacity Building for Restaurants$10,000
Ukai RestaurantChicago, IL-Reopening or Capacity Building for Restaurants$10,000
Uroko LLCAustin, TX-Reopening or Capacity Building for Restaurants$10,000
Voe Hospitality Group LLCBrooklyn, NY-Reopening or Capacity Building for Restaurants$10,000
W&k Wok IncNew York, NY-Reopening or Capacity Building for Restaurants$10,000
Wan Min Zhong LLCRenton, WA-Reopening or Capacity Building for Restaurants$10,000
Waterfront Gourmet GroupHollywood, FL-Reopening or Capacity Building for Restaurants$10,000
Wonder Cafe & RestaurantSacramento, CA-Reopening or Capacity Building for Restaurants$10,000
Y & a Cafe IncSeattle, WA-Reopening or Capacity Building for Restaurants$10,000
Yummy Yummy Gourmet IncStaten Island, NY-Reopening or Capacity Building for Restaurants$10,000
Z & L International LLCLas Vegas, NV-Reopening or Capacity Building for Restaurants$10,000
Zamarod RestaurantGreat Falls, VA-Reopening or Capacity Building for Restaurants$10,000
Zhang & Jiang IncHanover, MD-Reopening or Capacity Building for Restaurants$10,000
608 Davis IncEvanston, IL-Reopening or Capacity Building for Restaurants$8,000
Ard Group LLCAnnandale, VA-Reopening or Capacity Building for Restaurants$8,000
Bowery Gyokai LLCNew York, NY-Reopening or Capacity Building for Restaurants$8,000
Chinatown Gardens IncWashington, DC-Reopening or Capacity Building for Restaurants$8,000
Churreria Sf LLCSouth San Francisco, CA-Reopening or Capacity Building for Restaurants$8,000
Happy Food Corner IncFederal Way, WA-Reopening or Capacity Building for Restaurants$8,000
Hikyo LLCAustin, TX-Reopening or Capacity Building for Restaurants$8,000
J P Yang LLCN Las Vegas, NV-Reopening or Capacity Building for Restaurants$8,000
Jia Ho Restaurant IncBoston, MA-Reopening or Capacity Building for Restaurants$8,000
Jooasoo LLCEnglewood Cliffs, NJ-Reopening or Capacity Building for Restaurants$8,000
Kuroshima IncMilledgeville, GA-Reopening or Capacity Building for Restaurants$8,000
Le GourmetIowa City, IA-Reopening or Capacity Building for Restaurants$8,000
New Lee How Fook IncPhiladelphia, PA-Reopening or Capacity Building for Restaurants$8,000
SHARLIE'S TREATSSouth Jordan, UT-Reopening or Capacity Building for Restaurants$8,000
Step 32 Global IncLos Angeles, CA-Reopening or Capacity Building for Restaurants$8,000
Taipei Station CafePlano, TX-Reopening or Capacity Building for Restaurants$8,000
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 Related Parties$300,749
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
No
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
No

Governance Explanations

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

“Form 990 was prepared by outside accountants and reviewed by the president & ceo and board of directors before filing with the irs.”

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 executive committee of the board of directors conducts an annual evaluation on the performance of the president/ceo. The recommendations of the executive committee are presented to the full board of directors for approval and adoption.”

Form 990, Part VI, Section C, Line 19

“The organization makes available upon request the following: governing documents conflict of interest policy 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

Signing Officer

Name
Chiling Tong
Title
President & CEO
Phone
2022042579
Signed
2022-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chiling Tong
Formed
2013
Legal Domicile
Dc
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
11

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 IX, Line 11G

“Consulting: program service expenses 33,542. Management and general expenses 0. Fundraising expenses 0. Total expenses 33,542. Other program fees: program service expenses 874,813. Management and general expenses 0. Fundraising expenses 0. Total expenses 874,813.”

FORM 990, PART XII, LINE 2C:

“The process has not changed from 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, 2021 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.”

Raw XML AppendixShowing 400 of 2,250 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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IRS990ScheduleI/RecipientTable/CashGrantAmt1610000
IRS990ScheduleI/RecipientTable/CashGrantAmt1710000
IRS990ScheduleI/RecipientTable/CashGrantAmt1810000
IRS990ScheduleI/RecipientTable/CashGrantAmt1910000
IRS990ScheduleI/RecipientTable/CashGrantAmt2010000
IRS990ScheduleI/RecipientTable/CashGrantAmt2110000
IRS990ScheduleI/RecipientTable/CashGrantAmt2210000
IRS990ScheduleI/RecipientTable/CashGrantAmt2310000
IRS990ScheduleI/RecipientTable/CashGrantAmt2410000
IRS990ScheduleI/RecipientTable/CashGrantAmt2510000
IRS990ScheduleI/RecipientTable/CashGrantAmt2610000
IRS990ScheduleI/RecipientTable/CashGrantAmt2710000
IRS990ScheduleI/RecipientTable/CashGrantAmt2810000
IRS990ScheduleI/RecipientTable/CashGrantAmt2910000
IRS990ScheduleI/RecipientTable/CashGrantAmt3010000
IRS990ScheduleI/RecipientTable/CashGrantAmt3110000
IRS990ScheduleI/RecipientTable/CashGrantAmt3210000
IRS990ScheduleI/RecipientTable/CashGrantAmt3310000
IRS990ScheduleI/RecipientTable/CashGrantAmt3410000
IRS990ScheduleI/RecipientTable/CashGrantAmt3510000
IRS990ScheduleI/RecipientTable/CashGrantAmt3610000
IRS990ScheduleI/RecipientTable/CashGrantAmt3710000
IRS990ScheduleI/RecipientTable/CashGrantAmt3810000
IRS990ScheduleI/RecipientTable/CashGrantAmt3910000
IRS990ScheduleI/RecipientTable/CashGrantAmt4010000
IRS990ScheduleI/RecipientTable/CashGrantAmt4110000
IRS990ScheduleI/RecipientTable/CashGrantAmt4210000
IRS990ScheduleI/RecipientTable/CashGrantAmt4310000
IRS990ScheduleI/RecipientTable/CashGrantAmt4410000
IRS990ScheduleI/RecipientTable/CashGrantAmt4510000
IRS990ScheduleI/RecipientTable/CashGrantAmt4610000
IRS990ScheduleI/RecipientTable/CashGrantAmt4710000
IRS990ScheduleI/RecipientTable/CashGrantAmt4810000
IRS990ScheduleI/RecipientTable/CashGrantAmt4910000
IRS990ScheduleI/RecipientTable/CashGrantAmt5010000
IRS990ScheduleI/RecipientTable/CashGrantAmt5110000
IRS990ScheduleI/RecipientTable/CashGrantAmt5210000
IRS990ScheduleI/RecipientTable/CashGrantAmt5310000
IRS990ScheduleI/RecipientTable/CashGrantAmt5410000
IRS990ScheduleI/RecipientTable/CashGrantAmt5510000
IRS990ScheduleI/RecipientTable/CashGrantAmt5610000
IRS990ScheduleI/RecipientTable/CashGrantAmt5710000
IRS990ScheduleI/RecipientTable/CashGrantAmt5810000
IRS990ScheduleI/RecipientTable/CashGrantAmt5910000
IRS990ScheduleI/RecipientTable/CashGrantAmt6010000
IRS990ScheduleI/RecipientTable/CashGrantAmt6110000
IRS990ScheduleI/RecipientTable/CashGrantAmt6210000
IRS990ScheduleI/RecipientTable/CashGrantAmt6310000
IRS990ScheduleI/RecipientTable/CashGrantAmt6410000
IRS990ScheduleI/RecipientTable/CashGrantAmt6510000
IRS990ScheduleI/RecipientTable/CashGrantAmt6610000
IRS990ScheduleI/RecipientTable/CashGrantAmt6710000
IRS990ScheduleI/RecipientTable/CashGrantAmt6810000
IRS990ScheduleI/RecipientTable/CashGrantAmt6910000
IRS990ScheduleI/RecipientTable/CashGrantAmt7010000
IRS990ScheduleI/RecipientTable/CashGrantAmt7110000
IRS990ScheduleI/RecipientTable/CashGrantAmt7210000
IRS990ScheduleI/RecipientTable/CashGrantAmt7310000
IRS990ScheduleI/RecipientTable/CashGrantAmt7410000
IRS990ScheduleI/RecipientTable/CashGrantAmt7510000
IRS990ScheduleI/RecipientTable/CashGrantAmt7610000

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,377,771
Liabilities
$372,520
Net assets
$2,005,251
Revenue
$4,925,952
Expenses
$3,547,528
Net income
$1,378,424
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.37$0.37$3.00$3.21$2.30$0.91
2023Detailed filing. Detailed filing data is available for this year.$2.45$0.35$2.10$2.57$2.23$0.33
2022Detailed filing. Detailed filing data is available for this year.$2.16$0.41$1.75$4.13$4.38$0.25
2021Detailed filing. Detailed filing data is available for this year.$2.38$0.37$2.01$4.93$3.55$1.38
2020Detailed filing. Detailed filing data is available for this year.$0.66$0.03$0.63$0.39$0.36$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.60$0.00$0.60$0.31$0.32$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.61$0.00$0.61$0.27$0.30$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.65$0.01$0.64$0.43$0.36$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.88$0.08$0.80$0.46$0.26$0.20
2015Detailed filing. Detailed filing data is available for this year.$0.73$0.13$0.60$0.39$0.34$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.53$0.03$0.49$0.41$0.29$0.11
2013Summary only. Only limited summary data is available for this year.$0.38$0.00$0.38$0.41$0.03$0.38