Ace Charter School FY2020 filing

Tax-deductible

San Jose, CA501(c)(3)Since 2008EducationEIN 26-1570590Revenue $16.3M in FY2020

On file with the IRSacecharter.org1100 Shasta Ave Ste 250, 95126-2621 · San Jose, CATax-exempt since Jan 2009School — 170(b)(1)(A)(ii)

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To operate public Charter schools and provide educational programs.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$1.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $1.5M a year · 7% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.0M
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$5.9M
79% of total assets
Worth a look: liabilities are 79% of assets; over 65%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$16.3M
Spent
$16.0M
To programs
82%
Net assets
$1.6M
By yearFY2020–FY2025
Revenue
$16.3M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$16.3M
FY2021$20.0M
FY2022$22.4M
FY2023$21.3M
FY2024$20.1M
FY2025$21.7M
Expenses
$16.0M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$16.0M
FY2021$17.7M
FY2022$21.4M
FY2023$21.2M
FY2024$19.1M
FY2025$17.6M
Net assets
$1.6M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.6M
FY2021$3.9M
FY2022$4.9M
FY2023$5.0M
FY2024$6.1M
FY2025$10.2M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $13.1M Management & general 17% · $2.7M Fundraising 2% · $242K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990; $1.0M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$201,247Pt VII · Sec A
$175,130Pt VII · Sec A
Chief Schools Officer
$139,703Pt VII · Sec A
Executive Director Sj Netw
$127,344Pt VII · Sec A
$126,293Pt VII · Sec A
$122,150Pt VII · Sec A
Assistant Principal
$121,200Pt VII · Sec A
Board Chair
$0Pt VII · Sec A

Kennedy Hilario’s $269K as CEO is at the 58th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Kennedy Hilario$269,028$232,581————
Alma Bravo$203,116$178,508$172,855$131,639——
Gregory Lippman———$200,572$201,483$201,247
Zoe Duskin$191,490$154,909$152,999———
Nath Mahalingam———$188,401$177,632—
Naganath Mahalingam—————$175,130
Vu Long Trinh——$126,321$157,006$158,508$139,703
Gregory Lippman End 722——$145,976———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Operates public charter schools and offers educational programs.

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Provided by the organization

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1 program · $13.1M · in their own filed words · FY2019
01

Provided educational opportunities to the surrounding community. The school served 1,064 students in the 2019-2020 fiscal year.

$13.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$50K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$16.3M
Ln 12
Gifts and grantsLn 1h$16.2M
Other incomeLn 4–11$30K
Investment incomeLn 3$6K
Money outPt IX
$16.0M
Ln 25
Programscol B$13.1M
Managementcol C$2.7M
Fundraisingcol D$242K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$3.8M
Total assetsLn 16$7.4M
LiabilitiesLn 26$5.9M
PeoplePt VI, VII
16
listed · VII A
PaidVII A7
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$16.2M
Government grantsLn 1e$14.8M
Investment incomeLn 3$6K
Other incomeLn 4–11$30K
Total revenueLn 12$16.3M
Assets in detailPt X, end of year
CashLn 1$3.8M
Cash and savings togetherLn 1–2$3.8M
Land, buildings, equipmentLn 10c$1.2M
Total assetsLn 16$7.4M
LiabilitiesLn 26$5.9M
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 5205
VolunteersI 615
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$1.7M$3.8M
Land, buildings, equipmentLn 10c$1.3M$1.2M
Total assetsLn 16$4.7M$7.4M
LiabilitiesLn 26$3.4M$5.9M
Net assetsLn 32$1.3M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$428K$152K$152K$124K
Other salaries and wagesLn 7$7.8M$6.5M$1.2M$68K
Pension plan contributionsLn 8$868K$817K$51K
Other employee benefitsLn 9$692K$612K$81K
Payroll taxesLn 10$316K$228K$88K
Management feesLn 11a$113K$113K
Legal feesLn 11b$66K$66K
Accounting feesLn 11c$50K$50K
Other fees for servicesLn 11g$1.2M$942K$245K
Advertising and promotionLn 12$108K$108K
Office expensesLn 13$664K$416K$221K$28K
Information technologyLn 14$461K$375K$86K
OccupancyLn 16$1.5M$1.5M$21K$3K
TravelLn 17$121K$96K$25K
Conferences, conventions and meetingsLn 19$109K$83K$26K
InterestLn 20$34K$34K
Depreciation, depletion and amortizationLn 22$79K$79K
InsuranceLn 23$106K$106K
Other expenses (24a–d)Ln 24$1.1M$1.1M
All other expensesLn 24e$199K$135K$43K$20K
Total functional expensesLn 25$16.0M$13.1M$2.7M$242K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $21.7M$17.6M$4.1M$10.2M 990 PDF
FY2024 $20.1M$19.1M$1.1M$6.1M 990 PDF
FY2023 $21.3M$21.2M$123K$5.0M 990 PDF
FY2022 $22.4M$21.4M$1.0M$4.9M 990 PDF
FY2021 $20.0M$17.7M$2.3M$3.9M 990 PDF
FY2020 Viewing $16.3M$16.0M$254K$1.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $16,276,708 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $17,058,863$16,240,326
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $4,804$6,472
I-11 Other revenuePrior year $199,098$29,910
I-12 Total revenuePrior year $17,262,765$16,276,708
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $11,383,779$10,075,363
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,654,105$5,947,590
I-18 Total expensesPrior year $17,037,884$16,022,953
I-19 Revenue less expensesPrior year $224,881$253,755
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $16,276,708 across 6 lines filed
VIII-1e Government grants$14,805,079
VIII-1f All other contributions, gifts and grants$1,435,247
VIII-1h Total contributions, gifts and grants$16,240,326
VIII-3 Investment incomeExcluded from tax $6,472$6,472
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $29,910$29,910
VIII-12 Total revenueRelated to mission $29,910 · Unrelated business $0 · Excluded from tax $6,472$16,276,708
Part IX · Statement of functional expenses $16,022,953 across 20 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $152,057 · Management $152,057 · Fundraising $123,887$428,001
IX-7 Other salaries and wagesPrograms $6,526,710 · Management $1,177,174 · Fundraising $67,500$7,771,384
IX-8 Pension plan contributionsPrograms $816,900 · Management $51,069$867,969
IX-9 Other employee benefitsPrograms $611,604 · Management $80,646$692,250
IX-10 Payroll taxesPrograms $228,000 · Management $87,759$315,759
IX-11a Management feesManagement $112,758$112,758
IX-11b Legal feesManagement $65,738$65,738
IX-11c Accounting feesManagement $49,840$49,840
IX-11g Other fees for servicesPrograms $941,509 · Management $244,605$1,186,114
IX-12 Advertising and promotionManagement $107,918$107,918
IX-13 Office expensesPrograms $416,262 · Management $220,507 · Fundraising $27,500$664,269
IX-14 Information technologyPrograms $374,937 · Management $86,485$461,422
IX-16 OccupancyPrograms $1,507,306 · Management $20,603 · Fundraising $2,697$1,530,606
IX-17 TravelPrograms $96,073 · Management $25,373$121,446
IX-19 Conferences, conventions and meetingsPrograms $83,319 · Management $25,864$109,183
IX-20 InterestManagement $34,301$34,301
IX-22 Depreciation, depletion and amortizationPrograms $78,988$78,988
IX-23 InsuranceManagement $105,553$105,553
IX-24 Other expenses (24a–d)Programs $1,120,672$1,120,672
IX-24e All other expensesPrograms $135,012 · Management $43,429 · Fundraising $20,341$198,782
IX-25 Total functional expensesPrograms $13,089,349 · Management $2,691,679 · Fundraising $241,925$16,022,953
Part X · Balance sheet $7,433,257 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,738,423$3,830,799
X-4 Accounts receivableStart of year $1,499,602$2,081,587
X-9 Prepaid expenses and deferred chargesStart of year $116,568$293,665
X-10c Land, buildings and equipment, netStart of year $1,306,194$1,227,206
X-16 Total assetsStart of year $4,660,787$7,433,257
X-17 Accounts payable and accrued expensesStart of year $810,492$1,220,008
X-19 Deferred revenueStart of year $43,111$202,814
X-24 Unsecured notes and loans payableStart of year $1,085,636$2,927,087
X-25 Other liabilitiesStart of year $1,421,191$1,529,236
X-26 Total liabilitiesStart of year $3,360,430$5,879,145
X-27 Net assets without donor restrictionsStart of year $1,300,357$1,554,112
X-32 Total net assets or fund balancesStart of year $1,300,357$1,554,112
X-33 Total liabilities and net assetsStart of year $4,660,787$7,433,257
Part XI · Reconciliation of net assets $1,554,112 net assets at year end
XI-1 Total revenue$16,276,708
XI-2 Total expenses$16,022,953
XI-3 Revenue less expenses$253,755
XI-4 Net assets at start of year$1,300,357
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,554,112

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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