Civic Intelligence

Ace Preparatory Inc.

990 • Fiscal year 2021 • EIN 47-3128337

Jul 01, 2020 to Jun 30, 2021 • Filed on Jan 14, 2022

Organization ProfileWWW.ACEPREPACADEMY.ORG

View Organization Page

5326 Hillside AveIndianapolis, IN 46220

(317) 744-9847

Siviq Scores

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

Liabilities / Assets

90th percentile

0.76x

Higher debt load relative to assets than 90% of similar nonprofits.

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

Liabilities / Revenue

62nd percentile

0.17x

Higher debt load relative to revenue than 62% of similar nonprofits.

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

Net Margin

32nd percentile

3.4%

Higher net margin than 32% of similar nonprofits.

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

Top Officer Pay

65th percentile

$88,904

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 5.2% of source-year revenue.

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

Asset Growth

88th percentile

55%

Faster asset growth than 88% of similar nonprofits.

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

Revenue Growth

88th percentile

111%

Faster revenue growth than 88% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$389,202

Up $138,637 (+55%) from 2020

Net Assets

Up

$92,229

Up $57,320 (+164%) from 2020

Liabilities

Up

$296,973

Up $81,317 (+38%) from 2020

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin32nd percentile

Revenue

Up

$1,711,066

Up $899,442 (+111%) from 2020

Expenses

Up

$1,653,746

Up $786,366 (+91%) from 2020

Net Income

Up

$57,320

Up $113,076 (+203%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth88th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2015: $244,389Liabilities 2015: $5,827Net Assets 2015: $238,5622015Assets 2016: $65,284Liabilities 2016: $201,215Net Assets 2016: -$135,9312016Assets 2017: $312,868Liabilities 2017: $108,424Net Assets 2017: $204,4442017Assets 2018: $387,021Liabilities 2018: $194,663Net Assets 2018: $192,3582018Assets 2019: $473,641Liabilities 2019: $368,551Net Assets 2019: $105,0902019Assets 2020: $250,565Liabilities 2020: $215,656Net Assets 2020: $34,9092020Assets 2021: $389,202Liabilities 2021: $296,973Net Assets 2021: $92,2292021Assets 2022: $4,058,391Liabilities 2022: $3,586,152Net Assets 2022: $472,2392022Assets 2023: $3,812,056Liabilities 2023: $3,372,261Net Assets 2023: $439,7952023Assets 2024: $3,452,753Liabilities 2024: $3,407,730Net Assets 2024: $45,0232024

Highlighted filing

2021

Assets$389,202
Liabilities$296,973
Net Assets$92,229
Open 2021 Filing

Operations Trend

Revenue Growth88th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $286,149Expenses 2015: $47,587Net Income 2015: $238,5622015Revenue 2016: $202,769Expenses 2016: $577,262Net Income 2016: -$374,4932016Revenue 2017: $970,760Expenses 2017: $630,385Net Income 2017: $340,3752017Revenue 2018: $1,415,308Expenses 2018: $1,427,394Net Income 2018: -$12,0862018Revenue 2019: $1,183,570Expenses 2019: $1,270,838Net Income 2019: -$87,2682019Revenue 2020: $811,624Expenses 2020: $867,380Net Income 2020: -$55,7562020Revenue 2021: $1,711,066Expenses 2021: $1,653,746Net Income 2021: $57,3202021Revenue 2022: $2,553,518Expenses 2022: $2,173,508Net Income 2022: $380,0102022Revenue 2023: $2,328,140Expenses 2023: $2,360,584Net Income 2023: -$32,4442023Revenue 2024: $1,663,448Expenses 2024: $2,058,220Net Income 2024: -$394,7722024

Highlighted filing

2021

Revenue$1,711,066
Expenses$1,653,746
Net Income$57,320
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jan 14, 2022
Return Version
2020v4.1
Gross Receipts
$1,711,066
Mission and Program Overview

Mission

Through rigorous academics, positive character development, and excellence in everything we do, ace preparatory academy charter school educates kindergarten through grade 5 students for school success and lives of opportunity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$14,778$138,109▲ $123,331
Land, Buildings, and Equipment, Net$192,712$129,860▼ $62,852
Pledges and Grants Receivable$30,480$106,561▲ $76,081
Prepaid Expenses and Deferred Charges$12,595$11,079▼ $1,516
Accounts Receivable$0$3,593▲ $3,593
Total Assets$250,565$389,202▲ $138,637
Liabilities
Unsecured Notes Loans Payable$66,800$154,000▲ $87,200
Accounts Payable and Accrued Expenses$81,913$76,030▼ $5,883
Other Liabilities$66,943$66,943→ $0
Total Liabilities$215,656$296,973▲ $81,317
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$34,909$92,229▲ $57,320
Total Net Assets Fund Balance$34,909$92,229▲ $57,320
Total Liabilities and Net Assets / Fund Balance$250,565$389,202▲ $138,637

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$53,219$224,874$278,093
Leasehold Improvements$76,641$57,029$133,670
Compensation and Service Providers
Top Officer Pay65th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Anna ShultsFounder & Head of SchoolFT$88,904$88,904
Kerriesha AdamsFounding Director of OperationsFT$70,409$70,409

Board Members and Trustees

NameTitle
Anne EatonPast President
John ShertzerPast President
Shelly ThomasPresident
Chasity Thompson OsbornVice President
Jordan OliverBoard Member
Julie WrightBoard Member
LATOYA ASHE'Board Member
Nicole WoodsonBoard Member
Tatiana DayBoard Member
Madolyn HoweSecratary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,703,448
Program Service Revenue
$0
Investment Income
$45
Other Revenue
$7,573
All Other Contributions
$43,253
Change in Net Assets
$57,320

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,711,066
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,711,066
Total Revenue per Form 990
$1,711,066
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,039,765
Other Expenses$613,981
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$599,072$77,832-$676,904
Current Officers, Directors, Trustees, and Key Employees$212,077$41,818-$253,895
Occupancy$251,007--$251,007
Fees for Services Other$27,183$82,555-$109,738
Depreciation Depletion$80,719--$80,719
Payroll Taxes$60,484$13,994-$74,478
Office Expenses$29,064$4,466-$33,530
Other Employee Benefits$244$28,454-$28,698
Information Technology$25,319--$25,319
Interest-$20,854-$20,854
All Other Expenses-$18,783-$18,783
Insurance-$14,923-$14,923
Advertising-$6,030-$6,030
Pension Plan Contributions$49$5,741-$5,790
Other Expenses$15,160$5,241-$5,241
Fees for Services Accounting-$1,890-$1,890
Fees for Services Legal-$275-$275
Total Functional Expenses$1,330,890$322,856$0$1,653,746

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,653,746
Total Expenses per Audited Statements$1,653,746
Total Expenses per Form 990$1,653,746
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 Landlord$66,943
Governance and Compliance

Governance Checklist

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

Governance Explanations

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

“The form 990 is provided to board members and they are provided time to comment or raise concerns. Any comments or concerns must be addressed to the board member's satisfaction and if necessary, we file for an extension; but if none are raised, the form is filed as prepared.”

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

“Any opportunities that would lead to a potential conflict of interest between the board of directors and school related business, partnerships, and/or financial matters are fully divulged, vetted, and upheld to ensure the utmost level of compliance. Board members sign an annual conflict of interest statement that remains on file at the school, as well as gets submitted to the charter authorizing body, and is reviewed throughout the year on an as-needed basis.”

Form 990, Part VI, Section C, Line 19

“A copy of the board minutes and financial statements are provided to anyone who attends the monthly board meetings. These meetings are open to the public and do not require board member status to attend. The governing documents, conflict of interest policy, and form 990 are available upon request.”

Filing and Contact Details

Filer

Filer Name
Ace Preparatory Inc
EIN
47-3128337
Phone
3177449847
Address
5326 HILLSIDE AVE, INDIANAPOLIS, IN 46220

Signing Officer

Name
Anna Shults
Title
Head of School
Phone
3177449847
Signed
2022-01-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anna Shults
Formed
2015
Legal Domicile
In
Voting Board Members
10
Independent Board Members
9
Employees
26
Volunteers
12

Preparer

Firm
Donovan Pc
Address
5151 E US HWY 36, AVON, IN 46123
Preparer
Rex E Miller CPA Cgma
Phone
3177456411
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“Ace prep added grade 5 for the 2020-2021 school year and provided virtual instruction due to covid-19.”

Financial Statement Notes

PART X, LINE 2:

“Professional accounting standards require the school to recognize a tax liability only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax liability that is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax liability is recorded. The school has examined this issue and has determined that there are no material contingent tax liabilities or questionable tax positions. Tax years ended after june 30, 2017 are open to audit for both federal and state purposes.”

Raw XML AppendixShowing 400 of 450 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/ActivityOrMissionDesc0THROUGH RIGOROUS ACADEMICS, POSITIVE CHARACTER DEVELOPMENT, AND EXCELLENCE IN EVERYTHING WE DO, ACE PREPARATORY ACADEMY CHARTER SCHOOL EDUCATES KINDERGARTEN THROUGH GRADE 5 STUDENTS FOR SCHOOL SUCCESS AND LIVES OF OPPORTUNITY.
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IRS990/Desc0ACE PREP SUCCESSFULLY APPLIED FOR, AND WAS GRANTED, A FULL FIVE-YEAR CHARTER RENEWAL. THIS ALLOWS US TO CONTINUE TO OPERATE AS A K-5 SCHOOL THROUGH THE 2026-27 SCHOOL YEAR.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRATARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5PAST PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt10FOUNDER & HEAD OF SCHOOL
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IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt028454
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0244
IRS990/OtherEmployeeBenefitsGrp/TotalAmt028698
IRS990/OtherExpensesGrp/Desc0STUDENT LUNCH EXPENSE
IRS990/OtherExpensesGrp/Desc1REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc2AUTHORIZER OVERSIGHT FE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05241
IRS990/OtherExpensesGrp/ProgramServicesAmt030512
IRS990/OtherExpensesGrp/ProgramServicesAmt115160
IRS990/OtherExpensesGrp/TotalAmt030512
IRS990/OtherExpensesGrp/TotalAmt115160
IRS990/OtherExpensesGrp/TotalAmt25241
IRS990/OtherLiabilitiesGrp/BOYAmt066943
IRS990/OtherLiabilitiesGrp/EOYAmt066943
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt07573
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt07573
IRS990/OtherRevenueTotalAmt07573
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt077832
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0599072
IRS990/OtherSalariesAndWagesGrp/TotalAmt0676904
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt013994
IRS990/PayrollTaxesGrp/ProgramServicesAmt060484
IRS990/PayrollTaxesGrp/TotalAmt074478
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt05741
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt049
IRS990/PensionPlanContributionsGrp/TotalAmt05790
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt030480
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0106561
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt012595
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt011079
IRS990/PrincipalOfficerNm0ANNA SHULTS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0THE 2020-21 SCHOOL YEAR WAS THE FIRST AS A K-5 SCHOOL AND THUS, THE FIRST YEAR TO FULLY ACTUALIZE OUR MISSION. WE OPENED IN 2016-17 WITH ONLY GRADES K-1 AND HAVE OPERATED WITH A SLOW GROWTH MODEL EVERY YEAR SINCE.
IRS990/ProgSrvcAccomActy3Grp/Desc0THE REALITIES OF COVID-19 HIT OUR SMALL SCHOOL HARD AND FOR THE 2020-21 SCHOOL YEAR WE ONLY HAD 47 DAYS OF IN PERSON INSTRUCTION. AS A SCHOOL COMMUNITY, WE HAD TO LEARN HOW TO RALLY AROUND ONLINE PLATFORMS AND SUPPORT SCHOLARS AND FAMILIES IN WAYS NEVER BEFORE KNOWN.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0807052
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt078
IRS990/PYOtherExpensesAmt0389849
IRS990/PYOtherRevenueAmt04494
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-55756
IRS990/PYSalariesCompEmpBnftPaidAmt0477531
IRS990/PYTotalExpensesAmt0867380
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0811624
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt057320
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt07573
IRS990ScheduleA/SchoolInd0X
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/EquipmentGrp/BookValueAmt053219
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0224874
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0278093
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01653746
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt076641
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt057029
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0133670
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt066943
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO LANDLORD
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01711066
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PROFESSIONAL ACCOUNTING STANDARDS REQUIRE THE SCHOOL TO RECOGNIZE A TAX LIABILITY ONLY IF IT IS MORE LIKELY THAN NOT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX LIABILITY THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE-LIKELY-THAN-NOT TEST, NO TAX LIABILITY IS RECORDED. THE SCHOOL HAS EXAMINED THIS ISSUE AND HAS DETERMINED THAT THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES OR QUESTIONABLE TAX POSITIONS. TAX YEARS ENDED AFTER JUNE 30, 2017 ARE OPEN TO AUDIT FOR BOTH FEDERAL AND STATE PURPOSES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0129860
IRS990ScheduleD/TotalExpensesPerForm990Amt01653746
IRS990ScheduleD/TotalLiabilityAmt066943
IRS990ScheduleD/TotalRevenuePerForm990Amt01711066
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01711066
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01653746
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd00
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd00
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0SOME MARKETING ITEMS THAT ENCOURAGE ENROLLMENT DO NOT INCLUDE ACE PREPARATORY'S NONDISCRIMINATORY STATEMENT. ACE PREPARATORY HAS NOT WIDELY PROMOTED SUCH A POLICY IN THE MANNER DESCRIBED. BY LAW, THE ENROLLMENT POLICES FOR CHARTERS ARE NONDISCRIMINATORY IN THEMSELVES, SO WE UPHOLD THE FULL INTENT AND SPIRIT OF THAT.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1ACE PREPARATORY IS TUITION FREE AND DOES NOT PROVIDE FINANCIAL ASSISTANCE OR SCHOLARSHIPS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION RECEIVES STATE AID AND STATE GRANTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ACE PREP ADDED GRADE 5 FOR THE 2020-2021 SCHOOL YEAR AND PROVIDED VIRTUAL INSTRUCTION DUE TO COVID-19.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PROVIDED TO BOARD MEMBERS AND THEY ARE PROVIDED TIME TO COMMENT OR RAISE CONCERNS. ANY COMMENTS OR CONCERNS MUST BE ADDRESSED TO THE BOARD MEMBER'S SATISFACTION AND IF NECESSARY, WE FILE FOR AN EXTENSION; BUT IF NONE ARE RAISED, THE FORM IS FILED AS PREPARED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANY OPPORTUNITIES THAT WOULD LEAD TO A POTENTIAL CONFLICT OF INTEREST BETWEEN THE BOARD OF DIRECTORS AND SCHOOL RELATED BUSINESS, PARTNERSHIPS, AND/OR FINANCIAL MATTERS ARE FULLY DIVULGED, VETTED, AND UPHELD TO ENSURE THE UTMOST LEVEL OF COMPLIANCE. BOARD MEMBERS SIGN AN ANNUAL CONFLICT OF INTEREST STATEMENT THAT REMAINS ON FILE AT THE SCHOOL, AS WELL AS GETS SUBMITTED TO THE CHARTER AUTHORIZING BODY, AND IS REVIEWED THROUGHOUT THE YEAR ON AN AS-NEEDED BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE BOARD MINUTES AND FINANCIAL STATEMENTS ARE PROVIDED TO ANYONE WHO ATTENDS THE MONTHLY BOARD MEETINGS. THESE MEETINGS ARE OPEN TO THE PUBLIC AND DO NOT REQUIRE BOARD MEMBER STATUS TO ATTEND. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FORM 990 ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd01
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0250565
IRS990/TotalAssetsEOYAmt0389202
IRS990/TotalAssetsGrp/BOYAmt0250565
IRS990/TotalAssetsGrp/EOYAmt0389202
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01703448
IRS990/TotalEmployeeCnt026
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0322856
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01330890
IRS990/TotalFunctionalExpensesGrp/TotalAmt01653746
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0215656
IRS990/TotalLiabilitiesEOYAmt0296973
IRS990/TotalLiabilitiesGrp/BOYAmt0215656
IRS990/TotalLiabilitiesGrp/EOYAmt0296973
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt034909
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt092229
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01330890
IRS990/TotalReportableCompFromOrgAmt0159313
IRS990/TotalRevenueGrp/ExclusionAmt045
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07573
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01711066
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt012

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$389,202
Liabilities
$296,973
Net assets
$92,229
Revenue
$1,711,066
Expenses
$1,653,746
Net income
$57,320
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.45$3.41$0.05$1.66$2.06$0.39
2023Detailed filing. Detailed filing data is available for this year.$3.81$3.37$0.44$2.33$2.36$0.03
2022Detailed filing. Detailed filing data is available for this year.$4.06$3.59$0.47$2.55$2.17$0.38
2021Detailed filing. Detailed filing data is available for this year.$0.39$0.30$0.09$1.71$1.65$0.06
2020Summary only. Only limited summary data is available for this year.$0.25$0.22$0.03$0.81$0.87$0.06
2019Summary only. Only limited summary data is available for this year.$0.47$0.37$0.11$1.18$1.27$0.09
2018Summary only. Only limited summary data is available for this year.$0.39$0.19$0.19$1.42$1.43$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.31$0.11$0.20$0.97$0.63$0.34
2016Summary only. Only limited summary data is available for this year.$0.07$0.20$0.14$0.20$0.58$0.37
2015Summary only. Only limited summary data is available for this year.$0.24$0.01$0.24$0.29$0.05$0.24