Ace Foundation Inc
Nonprofit profile at a glance
- EIN
- 260302036
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024, Form 990-T 2023
- Location
- Miami, FL, USA
- Phone
- 3056692906
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Fund Raising and/or Fund Distribution
Reported finances
- Revenue
- $897,884
- Expenses
- $1,061,352
- Assets
- $1,151,651
- Liabilities
- $12,825
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- MR CHARLES A GIBSON (DIRECTOR, PRESIDENT)
- MR DANIEL DIAZ (EXECUTIVE DIRECTOR)
Highest reported compensation
- MS ANITERE FLORES (DIRECTOR OF DEVELOPMENT): $150,000 total reported compensation
- SHANNIE SADESKY (DIRECTOR OF COMMUNICATIONS): $133,723 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The ace foundation was established to support educational projects and events that enhance the public education system and increase student achievement. The mission of the foundation is to enhance the educational opportunities of charter school students by providing financial and community-based resources to supplement charter school programs and initiatives.the purpose of the organization is to allocate resources to improve the education effort through initiatives such as teacher and school grants, student scholarships, and recognition of educational excellence. The organization conducts fundraising activities and sponsors annual events such as art auctions/recognition ceremonies to raise funds for educational not-for profit entities in the community.
What it reported doing in 2024
The foundation conducts fundraisers during the year in order to support charter schools. During 2024 it was able to provide the educators of charter schools with support to improve their education efforts. Some of the programs used included teacher and school grants, annual events such as art auctions, recognition ceremonies and summer camp programs.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 96% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 80
- Accountability: 82
- Sustainability: 27
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 99%; rating input score 99
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 63.1%; rating input score 63; 31st 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: 4 of 7 controls in place; rating input score 57
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -18.2%; rating input score 10; 10th percentile among comparable filings
- Total-asset coverage ratio: 1.09; rating input score 45; 45th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 68; 68th percentile among comparable filings
- Officer compensation ratio: 26.7%; rating input score 9; 9th percentile among comparable filings
Growth
- Program expense growth: 7.9% per year; rating input score 100; 55th percentile among comparable filings
- Revenue growth: 8.9% per year; rating input score 100; 62nd percentile among comparable filings
- Asset growth: 24.9% per year; rating input score 100; 87th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 99% of spending went to programs
- Governance: 5 of 5 board members independent · 4 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $1.1M in reported program spending
- Leadership: top reported pay $150K · 10 people listed
- Highest-paid contractors: 2 contractors listed · $426K reported
- Consistency: 21 of 22 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes major donors and grants
- Filing history: 11 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: 3 filed related-organization links
- 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.
- Review — Accountability: Governance controls: 2 of 6 not reported.
- High — Sustainability: Operating margin scored 10/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
- High — Sustainability: Officer compensation ratio scored 9/100.