Civic Intelligence

Ace Tech Endowment Fund

990 • Fiscal year 2021 • EIN 72-1602149

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 14, 2022

Organization ProfileN/A
6820 S WashtenawChicago, IL 60629

(773) 548-8705

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

56th percentile

0.00x

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

96th percentile

86%

Higher net margin than 96% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

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.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

49th percentile

5.2%

Faster asset growth than 49% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

64th percentile

25%

Faster revenue growth than 64% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$355,482

Up $17,495 (+5.2%) from 2020

Net Assets

Up

$355,482

Up $17,495 (+5.2%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin96th percentile

Revenue

Up

$20,229

Up $3,989 (+25%) from 2020

Expenses

Up

$2,738

Up $1,183 (+76%) from 2020

Net Income

Up

$17,491

Up $2,806 (+19%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $903,232Liabilities 2010: $0Net Assets 2010: $903,2322010Assets 2011: $931,942Liabilities 2011: $0Net Assets 2011: $931,9422011Assets 2012: $1,031,410Liabilities 2012: $0Net Assets 2012: $1,031,4102012Assets 2013: $1,001,434Liabilities 2013: $0Net Assets 2013: $1,001,4342013Assets 2014: $1,017,667Liabilities 2014: $0Net Assets 2014: $1,017,6672014Assets 2015: $868,391Liabilities 2015: $0Net Assets 2015: $868,3912015Assets 2016: $713,278Liabilities 2016: $0Net Assets 2016: $713,2782016Assets 2017: $843,137Liabilities 2017: $0Net Assets 2017: $843,1372017Assets 2018: $637,040Liabilities 2018: $0Net Assets 2018: $637,0402018Assets 2019: $297,062Liabilities 2019: $0Net Assets 2019: $297,0622019Assets 2020: $337,987Liabilities 2020: $0Net Assets 2020: $337,9872020Assets 2021: $355,482Liabilities 2021: $0Net Assets 2021: $355,4822021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2021

Assets$355,482
Liabilities$0
Net Assets$355,482
Open 2021 Filing

Operations Trend

Revenue Growth64th percentile

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

$500K$0-$500KExpenses 2010: $02010Expenses 2011: $02011Expenses 2012: $02012Revenue 2013: $34,056Expenses 2013: $197,805Net Income 2013: -$163,7492013Revenue 2014: $80,007Expenses 2014: $52,391Net Income 2014: $27,6162014Revenue 2015: $108,620Expenses 2015: $209,381Net Income 2015: -$100,7612015Revenue 2016: $65,723Expenses 2016: $171,514Net Income 2016: -$105,7912016Revenue 2017: $65,096Expenses 2017: $2,100Net Income 2017: $62,9962017Revenue 2018: $38,667Expenses 2018: $212,087Net Income 2018: -$173,4202018Revenue 2019: $183,836Expenses 2019: $456,154Net Income 2019: -$272,3182019Revenue 2020: $16,240Expenses 2020: $1,555Net Income 2020: $14,6852020Revenue 2021: $20,229Expenses 2021: $2,738Net Income 2021: $17,4912021Revenue 2022: $9,136Expenses 2022: $364,618Net Income 2022: -$355,4822022

Highlighted filing

2021

Revenue$20,229
Expenses$2,738
Net Income$17,491
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 14, 2022
Return Version
2021v4.2
Gross Receipts
$20,229
Mission and Program Overview

Mission

To provide financial assistance to ace tech charter high school.

To provide finanacial assistance to ace tech charter high school

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$335,092$355,192▲ $20,100
Cash and Non-Interest-Bearing Accounts$2,895$290▼ $2,605
Total Assets$337,987$355,482▲ $17,495
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$337,987$355,482▲ $17,495
Total Net Assets Fund Balance$337,987$355,482▲ $17,495
Total Liabilities and Net Assets / Fund Balance$337,987$355,482▲ $17,495

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$337,987-▲ $20,229-$355,482
2020$297,062-▲ $42,480-$337,987
2019$637,040-▲ $116,176-$297,062
2018$843,137-▲ $5,990-$637,040
2017$713,278$2,100▲ $129,859-$843,137
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Dana P ThornePresident
Louis JonesDirector
Mark JolicoeurSecretary
Joe ScarpelliTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$20,229
Other Revenue
$0
Change in Net Assets
$17,491
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,738
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$1,500-$1,500
Insurance-$1,198-$1,198
Other Expenses-$10-$10
Total Functional Expenses$0$2,738$0$2,738
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
No
Annual disclosure for covered persons
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“There are no committees with authority to act on behalf of the board.”

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

“A copy of the form 990 was provided to the board of directors for review and approval prior to filing.”

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

“The officers are required to annually disclose any potential conflicts of interest. Any identified conflicts of interest would be followed up by the officers.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Ace Tech Endowment Fund
EIN
72-1602149
Phone
7735488705
Address
6820 S WASHTENAW, CHICAGO, IL 60629

Signing Officer

Name
Joseph Scarpelli
Title
Treasurer
Phone
7735488705
Signed
2022-06-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Scarpelli
Formed
2005
Legal Domicile
Il
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Wipfli Llp
Address
100 TRI-STATE INTERNATIONAL STE 300, LINCOLNSHIRE, IL 60069
Preparer
Timothy Griffith
Phone
8479410100
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

“To support the ace technical charter high school”

Raw XML Appendix362 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/Form990PartVIISectionAGrp/TitleTxt1TREASURER
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TO SUPPORT THE ACE TECHNICAL CHARTER HIGH SCHOOL
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE OFFICERS ARE REQUIRED TO ANNUALLY DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. ANY IDENTIFIED CONFLICTS OF INTEREST WOULD BE FOLLOWED UP BY THE OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0337987
IRS990/TotalAssetsEOYAmt0355482
IRS990/TotalAssetsGrp/BOYAmt0337987
IRS990/TotalAssetsGrp/EOYAmt0355482
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02738
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt02738
IRS990/TotalGrossUBIAmt016640
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IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalRevenueGrp/ExclusionAmt03589
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt020229
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt016640
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0355482
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/USAddress/ZIPCd060629
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IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSEPH SCARPELLI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07735488705
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-06-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ACE TECH ENDOWMENT FUND
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ReturnHeader/Filer/PhoneNum07735488705
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WIPFLI LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 TRI-STATE INTERNATIONAL STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LINCOLNSHIRE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060069
ReturnHeader/PreparerPersonGrp/PhoneNum08479410100
ReturnHeader/PreparerPersonGrp/PreparationDt02022-06-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TIMOTHY GRIFFITH
ReturnHeader/ReturnTs02022-06-27T16:23:40-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOSEPH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SCARPELLI
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$355,482
Liabilities
$0
Net assets
$355,482
Revenue
$20,229
Expenses
$2,738
Net income
$17,491
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.01$0.36$0.36
2021Detailed filing. Detailed filing data is available for this year.$0.36$0.00$0.36$0.02$0.00$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.34$0.00$0.34$0.02$0.00$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.30$0.00$0.30$0.18$0.46$0.27
2018Detailed filing. Detailed filing data is available for this year.$0.64$0.00$0.64$0.04$0.21$0.17
2017Detailed filing. Detailed filing data is available for this year.$0.84$0.00$0.84$0.07$0.00$0.06
2016Detailed filing. Detailed filing data is available for this year.$0.71$0.00$0.71$0.07$0.17$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.87$0.00$0.87$0.11$0.21$0.10
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.00$1.02$0.08$0.05$0.03
2013Detailed filing. Detailed filing data is available for this year.$1.00$0.00$1.00$0.03$0.20$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.00$1.03$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.93$0.00$0.93$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.90$0.00$0.90$0.00