Pace Academy Foundation

Nonprofit profile at a glance

EIN
471309747
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2018
Location
Cypress, CA, USA
Phone
7142209900
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Youth Development Programs
Affiliation
Christianity

Official website

Reported finances

Revenue
$773,300
Expenses
$1,080,603
Assets
$307,509
Liabilities
$500,000

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • SUNG HEE YOO (PRESIDENT)

People named in this filing

  • SUNG HEE YOO (PRESIDENT)
  • HEE Y PARK (CFO)
  • MI HEE HAN (SECRETARY)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 70% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 81
  • Accountability: 36
  • Sustainability: 16
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.4%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -39.7%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0.28; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 1.63; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 22.6% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 27.2% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 27.5% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.4% of spending went to programs
  • Governance: 0 of 5 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $725K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules · includes major donors and foreign activity
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Review — Grant Readiness: California registration: this organization could not be resolved against the register, so the check is unfinished.