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Ace Charter School Foundation INC FY2020 filing

Tax-deductible

San Jose, CA501(c)(3)Education EIN 45-1606949Revenue $1.8M in FY2020

On file with the IRS1100 Shasta Avenue 250, 95126-2621 · San Jose, CATax-exempt since Jan 2012Supporting org, Type I — 509(a)(3)

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To provide facilities, operational and other support to Ace Charter schools.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
1 of 6
filings with a surplus
Average deficit $154K a year · 12% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$13.0M
87% of total assets
Concern: liabilities are 87% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
Spent
$1.5M
To programs
99%
Net assets
$1.9M
By yearFY2020–FY2025
Revenue
$1.8M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.8M
FY2021$1.2M
FY2022$1.1M
FY2023$1.0M
FY2024$1.3M
FY2025$1.3M
Expenses
$1.5M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$1.6M
FY2022$1.5M
FY2023$1.4M
FY2024$1.4M
FY2025$1.4M
Net assets
$1.9M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.9M
FY2021$1.6M
FY2022$1.2M
FY2023$851K
FY2024$789K
FY2025$707K

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

990 PDF Claim
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 2012.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $1.5M Management & general 1% · $10K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Naganath Mahalingam
Managing Director
$0Pt VII · Sec A
John Bronson
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Ace Charter School Foundation INC executive salaries →

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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 15aNo

Programs and updates

Supports charter schools with facilities, operations, and other resources.

Questions for Ace Charter School Foundation INC

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Provided by the organization

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1 program · $1.5M · in their own filed words · FY2019
01

To support ace charter school in providing facilities and operational support. The facilities served approximately 1,064 students in 2019-20 fiscal year.

$1.5Mprogram 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 · FY2023
Swenson FoundationFY2023$20K
Total grants receivedfrom 1 funder$20K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.8M
Ln 12
Fees for servicesLn 2g$1.2M
Gifts and grantsLn 1h$534K
Investment incomeLn 3$29K
Money outPt IX
$1.5M
Ln 25
Programscol B$1.5M
Managementcol C$10K
Owns and owesPt X
$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$449K
Total assetsLn 16$14.9M
LiabilitiesLn 26$13.0M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$534K
Government grantsLn 1e$534K
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$29K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
SavingsLn 2$449K
Cash and savings togetherLn 1–2$449K
Land, buildings, equipmentLn 10c$10.7M
Other assetsLn 15$3.6M
Total assetsLn 16$14.9M
LiabilitiesLn 26$13.0M
Net assetsLn 32$1.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
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$2.0M$449K
Land, buildings, equipmentLn 10c$10.3M$10.7M
Total assetsLn 16$14.7M$14.9M
LiabilitiesLn 26$13.1M$13.0M
Net assetsLn 32$1.6M$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$5K$5K
OccupancyLn 16$319K$319K
InterestLn 20$658K$658K
Depreciation, depletion and amortizationLn 22$387K$387K
Other expenses (24a–d)Ln 24$170K$165K$5K
Total functional expensesLn 25$1.5M$1.5M$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.3M$1.4M−$82K$707K 990 PDF
FY2024 $1.3M$1.4M−$61K$789K 990 PDF
FY2023 $1.0M$1.4M−$333K$851K 990 PDF
FY2022 $1.1M$1.5M−$388K$1.2M 990 PDF
FY2021 $1.2M$1.6M−$320K$1.6M 990 PDF
FY2020 Viewing $1.8M$1.5M$260K$1.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $1,800,088 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$534,068
I-9 Program service revenuePrior year $1,152,693$1,237,435
I-10 Investment incomePrior year $134,886$28,585
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,287,579$1,800,088
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,332,658$1,539,961
I-18 Total expensesPrior year $1,332,658$1,539,961
I-19 Revenue less expensesPrior year −$45,079$260,127
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $1,800,088 across 5 lines filed
VIII-1e Government grants$534,068
VIII-1h Total contributions, gifts and grants$534,068
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,237,435$1,237,435
VIII-3 Investment incomeExcluded from tax $28,585$28,585
VIII-12 Total revenueRelated to mission $1,237,435 · Unrelated business $0 · Excluded from tax $28,585$1,800,088
Part IX · Statement of functional expenses $1,539,961 across 5 lines filed
IX-11c Accounting feesManagement $5,100$5,100
IX-16 OccupancyPrograms $319,405$319,405
IX-20 InterestPrograms $657,551$657,551
IX-22 Depreciation, depletion and amortizationPrograms $387,460$387,460
IX-24 Other expenses (24a–d)Programs $165,435 · Management $5,010$170,445
IX-25 Total functional expensesPrograms $1,529,851 · Management $10,110 · Fundraising $0$1,539,961
Part X · Balance sheet $14,914,808 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $2,016,057$449,347
X-3 Pledges and grants receivable$108,869
X-4 Accounts receivableStart of year $22,698$5,497
X-9 Prepaid expenses and deferred chargesStart of year $850$850
X-10c Land, buildings and equipment, netStart of year $10,312,024$10,712,819
X-15 Other assetsStart of year $2,366,661$3,637,426
X-16 Total assetsStart of year $14,718,290$14,914,808
X-17 Accounts payable and accrued expensesStart of year $153,938$30,064
X-20 Tax-exempt bond liabilitiesStart of year $12,424,440$12,319,270
X-25 Other liabilitiesStart of year $508,035$673,470
X-26 Total liabilitiesStart of year $13,086,413$13,022,804
X-27 Net assets without donor restrictionsStart of year $1,631,877$1,892,004
X-32 Total net assets or fund balancesStart of year $1,631,877$1,892,004
X-33 Total liabilities and net assetsStart of year $14,718,290$14,914,808
Part XI · Reconciliation of net assets $1,892,004 net assets at year end
XI-1 Total revenue$1,800,088
XI-2 Total expenses$1,539,961
XI-3 Revenue less expenses$260,127
XI-4 Net assets at start of year$1,631,877
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,892,004

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

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