Civic Intelligence

National Ace Foundation

990 • Fiscal year 2020 • EIN 46-3200311

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 08, 2021

Organization ProfileWWW.NATIONALACE.ORG
1300 Pennsylvania Avenue NW No 70Washington, DC 20004

(202) 204-2579

Siviq Scores

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

Liabilities / Assets

50th percentile

0.05x

Higher debt load relative to assets than 50% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

54th percentile

0.08x

Higher debt load relative to revenue than 54% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

52nd percentile

7.0%

Higher net margin than 52% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

96th percentile

$190,670

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 49.2% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

56th percentile

9.7%

Faster asset growth than 56% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

77th percentile

24%

Faster revenue growth than 77% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$657,732

Up $58,037 (+9.7%) from 2019

Net Assets

Up

$626,827

Up $27,132 (+4.5%) from 2019

Liabilities

Up

$30,905

Up $30,905 from 2019

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin52nd percentile

Revenue

Up

$387,420

Up $75,710 (+24%) from 2019

Expenses

Up

$360,288

Up $37,752 (+12%) from 2019

Net Income

Up

$27,132

Up $37,958 (+351%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth56th 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

2020

Assets$657,732
Liabilities$30,905
Net Assets$626,827
Open 2020 Filing

Operations Trend

Revenue Growth77th 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

2020

Revenue$387,420
Expenses$360,288
Net Income$27,132
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 8, 2021
Return Version
2020v4.1
Gross Receipts
$387,420
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$562,914$606,316▲ $43,402
Accounts Receivable$0$14,000▲ $14,000
Savings and Temporary Cash Investments$10,000$10,018▲ $18
Prepaid Expenses and Deferred Charges-$617-
Total Assets$599,695$657,732▲ $58,037
Other Assets Total$26,781$26,781→ $0
Liabilities
Other Liabilities$0$30,905▲ $30,905
Total Liabilities$0$30,905▲ $30,905
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$599,695$601,827▲ $2,132
Net Assets With Donor Restrictions$0$25,000▲ $25,000
Total Net Assets Fund Balance$599,695$626,827▲ $27,132
Total Liabilities and Net Assets / Fund Balance$599,695$657,732▲ $58,037
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleOtherTotal
Daniel C OliverCOO$134,069$134,069

Board Members and Trustees

NameTitle
Dennis HuangCo-chair
Jimmy FergusonCo-chair
Chiling TongPresident & CEO
Amit BhatnagarBoard Member
Bill ImadaBoard Member
Cy ChenBoard Member
Helene YanBoard Member
Marty LorenzoBoard Member
Pat Fong KushidaBoard Member
Shau-wai LamBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Asian And Pacific Islander American ChamManagement And Program Service1300 PENNSYLVANIA AVENUE NW SUITE, Washington, DC 20004$300,000
Revenue and Support

Revenue Composition

Contributions and Grants
$297,402
Program Service Revenue
$90,000
Investment Income
$18
Other Revenue
$0
All Other Contributions
$297,402
Change in Net Assets
$27,132

Audited Revenue Reconciliation

Revenue per Audited Statements
$387,420
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$387,420
Total Revenue per Form 990
$387,420
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$360,288
Total Fundraising Expense$9,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$180,000--$180,000
Fees for Services Management$144,000$27,000$9,000$180,000
Insurance-$163-$163
Fees for Services Accounting-$125-$125
Total Functional Expenses$324,000$27,288$9,000$360,288

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$360,288
Total Expenses per Audited Statements$360,288
Total Expenses per Form 990$360,288
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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$30,905
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 NO 70, WASHINGTON, DC 20004

Signing Officer

Name
Chiling Tong
Title
President & CEO
Phone
2022042579
Signed
2021-11-08
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
9

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

“Program service fee: program service expenses 180,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 180,000.”

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, 2020 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 470 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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IRS990/ProgSrvcAccomActy2Grp/Desc0EDUCATION - ACE FOUNDATION WORKS TO EDUCATE ASIAN AMERICAN AND PACIFIC ISLANDER BUSINESS COMMUNITIES ON ISSUES THAT WILL DIRECTLY IMPROVE THEIR ECONOMIC, POLITICAL, AND SOCIAL WELL-BEING. ACE FOUNDATION HOSTS EVENTS AIMED TO HELP EDUCATE THE MINORITY BUSINESS COMMUNITY. 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.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0108000
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt040000
IRS990/ProgSrvcAccomActy3Grp/Desc0NEXTGEN - ACE FOUNDATION EDUCATES THE NEXT GENERATION OF LEADERS AND ENTREPRENEURS IN THE AAPI COMMUNITY. INNER CIRCLES IS A NATIONAL PROGRAM WHERE YOUNG ENTREPRENEURS CAN DISCUSS AND PROBLEM-SOLVE THE TOUGHEST CHALLENGES THEY FACE. PEERS SHARE PROFESSIONAL AND PERSONAL EXPERIENCES THAT CAN HELP OTHERS LEARN, GROW, OR RECEIVE SUPPORT. THIS INVOLVES CREATING A SAFE AND SUPPORTIVE ENVIRONMENT TO DIVE INTO RISKS, FEARS, AND VULNERABILITIES. THE PROGRAM MAINTAINS A SUPPORT NETWORK OF ENTREPRENEURS AND BUSINESS OWNERS OF AAPI HERITAGE TO ENSURE THAT MORE SMALL-BUSINESS ENTERPRISES SUCCEED IN BUILDING THEIR BUSINESSES, FIND WAYS TO CAPITALIZE THEIR BUSINESSES AND CREATE NEW, SUSTAINABLE JOBS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0108000
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0311500
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0322536
IRS990/PYOtherRevenueAmt0210
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-10826
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0322536
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0311710
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt027132
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt050000
IRS990/SavingsAndTempCashInvstGrp/BOYAmt010000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt010018
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0297402
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0311710
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0272500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0399250
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0456500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01737362
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt018
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt049
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt067
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt090000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0210
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0210
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.46760
IRS990ScheduleA/PublicSupportPY170Pct00.64590
IRS990ScheduleA/PublicSupportTotal170Amt0812496
IRS990ScheduleA/SubstantialContributorsTotAmt0924866
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0297402
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0311710
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0272500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0399250
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0456500
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01737362
IRS990ScheduleA/TotalSupportAmt01737639
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/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0360288
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt030905
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTIES
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0387420
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, 2020 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:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0360288
IRS990ScheduleD/TotalLiabilityAmt030905
IRS990ScheduleD/TotalRevenuePerForm990Amt0387420
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0387420
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0360288
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt015000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0160670
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt015000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CHILING TONG
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0190670
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION DOES NOT DIRECTLY HIRE OR COMPENSATE EMPLOYEES. ALL EMPLOYEES ARE EMPLOYEES OF ASIAN & PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE & ENTREPRENEURSHIP (ACE), A RELATED ORGANIZATION EXEMPT UNDER SECTION 501(C)(6). ACE'S BOARD OF DIRECTORS ESTABLISHES AND APPROVES THE COMPENSATION FOR ITS PRESIDENT & CEO.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 WAS PREPARED BY OUTSIDE ACCOUNTANTS AND REVIEWED BY THE PRESIDENT & CEO AND BOARD OF DIRECTORS BEFORE FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES AVAILABLE UPON REQUEST THE FOLLOWING: GOVERNING DOCUMENTS CONFLICT OF INTEREST POLICY FINANCIAL STATEMENTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PROGRAM SERVICE FEE: PROGRAM SERVICE EXPENSES 180,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 180,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR.
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 B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990 PART XII LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ASIAN AND PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE & ENTREPRENEURSHIP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0462071116
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0DC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ADVOCATE OF AAPI BUSINESS INTERESTS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01300 PENNSYLVANIA AVENUE NW SUITE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WASHINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0DC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd020004
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0360000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0COST/FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0ASIAN AND PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE & ENTREPRENEURSHIP
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0M
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0DC
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0599695
IRS990/TotalAssetsEOYAmt0657732
IRS990/TotalAssetsGrp/BOYAmt0599695
IRS990/TotalAssetsGrp/EOYAmt0657732

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$657,732
Liabilities
$30,905
Net assets
$626,827
Revenue
$387,420
Expenses
$360,288
Net income
$27,132
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