Ace Foundation
Nonprofit profile at a glance
- EIN
- 463200311
- IRS 990 coverage
- 2014–2025
- Forms available
- Form 990 2025
- Location
- Washington, DC, USA
- Phone
- 2026276889
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Human Service Organizations
Reported finances
- Revenue
- $2,114,265
- Expenses
- $1,946,901
- Assets
- $3,478,722
- Liabilities
- $312,015
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- CHILING TONG (PRESIDENT AND CEO)
People named in this filing
- JIMMY FERGUSON (CHAIR)
- BIN YU (DIRECTOR (THRU MAY); TREASURER)
- ANGELA CHANG (DIRECTOR)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To improve the quality of life for asian and pacific islander americans by assisting the asian american and pacific islander (aapi) and all small business communities through business education and training, research, and community development.
What it reported doing in 2025
Small business priority - small business is a national call-to-action program powered by the national asian/pacific islander american chamber of commerce and entrepreneurship (national ace). The program's primary goal is to convene our network of business organizations, entrepreneurs, corporate leaders, and stakeholders to advance equity, justice, and opportunity for communities everywhere. The small business priority program fosters the wellbeing of these vital institutions by providing technical assistance on business resilience, resources on business recovery, information on starting, growing, or retaining a business, and creating avenues for education on access to capital and contracting.
Operating model
- Revenue model
- Donor-supported. 95% of the money available for current operations came from contributions and gifts.
- Distribution model
- Multi-channel. The nonprofit split its reported program spending across 40% for direct work, 39% for grants, and 20% for affiliated organizations.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 65
- Transparency & Controls: 68
- Accountability: 88
- Sustainability: 56
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 71%; rating input score 71
- Program expense ratio: 75.9%; rating input score 76
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 11th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 16.4%; rating input score 16; 17th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 7.9%; rating input score 50; 50th percentile among comparable filings
- Total-asset coverage ratio: 1.79; rating input score 54; 54th percentile among comparable filings
- Liabilities to assets ratio: 0.09; rating input score 50; 50th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 90; 90th percentile among comparable filings
Growth
- Program expense growth: 21.9% per year; rating input score 100; 86th percentile among comparable filings
- Revenue growth: 21.5% per year; rating input score 100; 88th percentile among comparable filings
- Asset growth: 18.8% per year; rating input score 100; 82nd percentile among comparable filings
Details
- Where the money goes: 71% of revenue deployed · 75.9% of spending went to programs
- Governance: 14 of 14 board members independent · 5 of 7 filing controls reported
- Programs: 3 filed program accomplishments · $1.5M in reported program spending
- Leadership: top reported pay $0 · 16 people listed
- Highest-paid contractors: 3 contractors listed · $1.3M reported
- Consistency: 24 of 25 current checks pass · 1 finding to review
- Schedules: 7 filed schedules · includes major donors and grants
- Filing history: 11 filing years from 2014 to 2025
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Grant itemization coverage scored 16/100.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- Review — Sustainability: Operating margin scored 50/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Total-asset coverage ratio scored 54/100.
- Review — Sustainability: Liabilities to assets ratio scored 50/100.