Civic Intelligence

Pace Academy Foundation

990 • Fiscal year 2019 • EIN 47-1309747

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

Organization Profilewww.pace-foundation.com
5241 LINCOLN AVE Room C7Cypress, CA 90630

(714) 220-9900

Siviq Scores

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

Liabilities / Assets

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

73rd percentile

18%

Higher net margin than 73% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

92nd percentile

115%

Faster asset growth than 92% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

94th percentile

134%

Faster revenue growth than 94% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$120,040

Up $64,084 (+115%) from 2018

Net Assets

Up

$120,040

Up $64,084 (+115%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin73rd percentile

Revenue

Up

$359,978

Up $206,453 (+134%) from 2018

Expenses

Up

$295,894

Up $166,711 (+129%) from 2018

Net Income

Up

$64,084

Up $39,742 (+163%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2013: $7,497Liabilities 2013: $02013Assets 2014: $13,535Liabilities 2014: $02014Assets 2015: $19,866Liabilities 2015: $0Net Assets 2015: $19,8662015Assets 2016: $31,019Liabilities 2016: $0Net Assets 2016: $31,0192016Assets 2017: $31,614Liabilities 2017: $0Net Assets 2017: $31,6142017Assets 2018: $55,956Liabilities 2018: $0Net Assets 2018: $55,9562018Assets 2019: $120,040Liabilities 2019: $0Net Assets 2019: $120,0402019Assets 2020: $422,266Liabilities 2020: $150,000Net Assets 2020: $272,2662020Assets 2021: $1,288,140Liabilities 2021: $500,000Net Assets 2021: $788,1402021Assets 2022: $1,115,526Liabilities 2022: $500,000Net Assets 2022: $615,5262022Assets 2023: $678,322Liabilities 2023: $500,000Net Assets 2023: $178,3222023Assets 2024: $307,509Liabilities 2024: $500,000Net Assets 2024: -$192,4912024

Highlighted filing

2019

Assets$120,040
Liabilities$0
Net Assets$120,040
Open 2019 Filing

Operations Trend

Revenue Growth94th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2013: $11,400Expenses 2013: $3,903Net Income 2013: $7,4972013Revenue 2014: $10,200Expenses 2014: $4,162Net Income 2014: $6,0382014Revenue 2015: $10,600Expenses 2015: $4,269Net Income 2015: $6,3312015Revenue 2016: $15,000Expenses 2016: $3,847Net Income 2016: $11,1532016Revenue 2017: $16,000Expenses 2017: $15,405Net Income 2017: $5952017Revenue 2018: $153,525Expenses 2018: $129,183Net Income 2018: $24,3422018Revenue 2019: $359,978Expenses 2019: $295,894Net Income 2019: $64,0842019Revenue 2020: $510,224Expenses 2020: $357,998Net Income 2020: $152,2262020Revenue 2021: $1,043,054Expenses 2021: $527,174Net Income 2021: $515,8802021Revenue 2022: $821,243Expenses 2022: $994,978Net Income 2022: -$173,7352022Revenue 2023: $608,501Expenses 2023: $844,475Net Income 2023: -$235,9742023Revenue 2024: $773,300Expenses 2024: $1,080,603Net Income 2024: -$307,3032024

Highlighted filing

2019

Revenue$359,978
Expenses$295,894
Net Income$64,084
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.1
Gross Receipts
$359,978
Mission and Program Overview

Mission

Quality Christian Education and Scholarship Programs

Pace Academy Foundation provides opportunities for high-quality, Christian education to the most disadvantaged, Christian students. It also provides scholarships to Christian students so that they may continue to pursue

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$55,956$120,040▲ $64,084
Rtn Earn Endowment Incm Other Fnds$55,956$120,040▲ $64,084
Total Assets$55,956$120,040▲ $64,084
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$55,956$120,040▲ $64,084
Total Liabilities and Net Assets / Fund Balance$55,956$120,040▲ $64,084
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Sung Hee YooPresident
Hyun Ill KimCFO
Mi Hee HanSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$359,978
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$359,978
Change in Net Assets
$64,084
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$246,472
Other Expenses$49,422
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$246,472--$246,472
Other Expenses$43,421--$43,421
Office Expenses-$4,073-$4,073
Travel-$1,928-$1,928
Total Functional Expenses$289,893$6,001$0$295,894
International Activity

International Summary

Offices
1
Employees
7
Spending
$246,472

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-Saharan AfricaProgram Services and GrantsScholarship Program17$246,472
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
Governance and Compliance

Governance Checklist

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

Filer

Filer Name
Pace Academy Foundation
EIN
47-1309747
Phone
7142209900
Address
5241 LINCOLN AVE Room C7, CYPRESS, CA 90630

Signing Officer

Name
Sung H Yoo
Title
President
Phone
7142209111
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sung H Yoo
Formed
2013
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
0
Employees
0

Preparer

Firm
United Tax and Accounting
Address
5241 LINCOLN AVE STE C2, CYPRESS, CA 90630
Preparer
Hee Y Park
Phone
7142209111
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

“Pace Academy Foundation provides opportunities for high-quality, Christian education to the most disadvantaged, Christian students. It also provides scholarships to Christian students so that they may continue to pursue education.”

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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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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0PART I, LINE 2- PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS PACE ACADEMY FOUNDATION PAF MINISTRY WORKS THROUGH A BUDGET PROCESS FOR EACH SCHOLARSHIP PROGRAM SEE PART V - ADDITIONAL INFORMATION. SOME OF THE PROGRAMS ARE AUDITED AS NEEDED. PAF HAS STAFF IN MALAWI, AFRICA TO OVERSEE EACH PROGRAM AND MONITOR HOW THE FUNDS ARE USED. THERE ARE ALSO REOCCURRING VISITS TO MALAWI BY PAF REPRESENTATIVES AND DONORS. PAF ALSO HAS AN SCHOLARSHIO AND GOOD SAMARITAN PROGRAM, WHICH IS A PARTNERSHIP BETWEEN THE MALAWI CHILDREN BENEFITING FROM PAF FUNDS AND THE DONORS. HERE IS A SUMMARY OF TYPES OF SERVICES AND ACTIVITIES THE FUNDS ARE USED TO SUPPORT ADMIN/OFFICE EXPENSES OFFICE RENT, UTILITIES, PHONE, PRINTING, COPYING, STAFF TRAINING. EDUCATION SCHOOL FEES/UNIFORMS AS NEEDED FOR SECONDARY HIGH SCHOOL STUDENTS. SALARIES STAFF SALARIES. SPIRITUAL CULTIVATION CHRISTMAS CELEBRATIONS, YOUTH REVIVAL CONFERENCES. TRANSPORTATION COSTS FOR STAFF VISITS TO CHILDREN.
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IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0359978
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0120040
IRS990/TravelGrp/ManagementAndGeneralAmt01928
IRS990/TravelGrp/TotalAmt01928
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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IRS990/VotingMembersIndependentCnt00
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ReturnHeader/BusinessOfficerGrp/PhoneNum07142209111
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-13
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ReturnHeader/FilingSecurityInformation/IPTm023:46:41
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CYPRESS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
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ReturnHeader/PreparerPersonGrp/PhoneNum07142209111
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HEE Y PARK
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-11-13T09:32:30-00:00
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ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$120,040
Liabilities
$0
Net assets
$120,040
Revenue
$359,978
Expenses
$295,894
Net income
$64,084
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.31$0.50$0.19$0.77$1.08$0.31
2023Detailed filing. Detailed filing data is available for this year.$0.68$0.50$0.18$0.61$0.84$0.24
2022Detailed filing. Detailed filing data is available for this year.$1.12$0.50$0.62$0.82$0.99$0.17
2021Detailed filing. Detailed filing data is available for this year.$1.29$0.50$0.79$1.04$0.53$0.52
2020Detailed filing. Detailed filing data is available for this year.$0.42$0.15$0.27$0.51$0.36$0.15
2019Detailed filing. Detailed filing data is available for this year.$0.12$0.00$0.12$0.36$0.30$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.15$0.13$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.02$0.02$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.02$0.00$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.01$0.00$0.01
2014Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$0.00$0.01
2013Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$0.00$0.01
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)3 • <$500k nonprofits