Civic Intelligence

Pace Academy Foundation

990 • Fiscal year 2020 • EIN 47-1309747

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 09, 2021

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

78th percentile

0.36x

Higher debt load relative to assets than 78% of similar nonprofits.

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

Liabilities / Revenue

76th percentile

0.29x

Higher debt load relative to revenue than 76% of similar nonprofits.

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

Net Margin

80th percentile

30%

Higher net margin than 80% of similar nonprofits.

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

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

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

Asset Growth

96th percentile

252%

Faster asset growth than 96% of similar nonprofits.

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

Revenue Growth

84th percentile

42%

Faster revenue growth than 84% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$422,266

Up $302,226 (+252%) from 2019

Net Assets

Up

$272,266

Up $152,226 (+127%) from 2019

Liabilities

Up

$150,000

Up $150,000 from 2019

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin80th percentile

Revenue

Up

$510,224

Up $150,246 (+42%) from 2019

Expenses

Up

$357,998

Up $62,104 (+21%) from 2019

Net Income

Up

$152,226

Up $88,142 (+138%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth96th 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

2020

Assets$422,266
Liabilities$150,000
Net Assets$272,266
Open 2020 Filing

Operations Trend

Revenue Growth84th 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

2020

Revenue$510,224
Expenses$357,998
Net Income$152,226
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 9, 2021
Return Version
2020v4.1
Gross Receipts
$510,224
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$120,040$422,266▲ $302,226
Total Assets$120,040$422,266▲ $302,226
Liabilities
Unsecured Notes Loans Payable-$150,000-
Total Liabilities$0$150,000▲ $150,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$120,040$272,266▲ $152,226
Total Net Assets Fund Balance$120,040$272,266▲ $152,226
Total Liabilities and Net Assets / Fund Balance$120,040$422,266▲ $302,226
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$510,157
Program Service Revenue
$0
Investment Income
$67
Other Revenue
$0
All Other Contributions
$509,157
Change in Net Assets
$152,226
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$295,000
Other Expenses$62,998
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$295,000--$295,000
Conferences and Meetings$53,528--$53,528
Office Expenses-$4,774-$4,774
Other Expenses$4,000--$4,000
Advertising-$696-$696
Total Functional Expenses$352,528$5,470$0$357,998
International Activity

International Summary

Offices
1
Employees
7
Spending
$295,000

International Compliance

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$295,000
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
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
2021-11-09
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/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TypeOfOrganizationCorpInd0X
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0SUNG H YOO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07142209111
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PACE ACADEMY FOUNDATION
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CYPRESS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
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ReturnHeader/PreparerPersonGrp/PhoneNum07142209111
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HEE Y PARK
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-11-09T02:26:12-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$422,266
Liabilities
$150,000
Net assets
$272,266
Revenue
$510,224
Expenses
$357,998
Net income
$152,226
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. 2020 filings • 501(c)3 • $500k-$1M nonprofits