Ace Tech Endowment Fund

Chicago, ILUnknown exempt organization EIN 72-1602149Revenue $9K in FY2022Latest filing we have: 2022. Newer ones may not be in our data yet. Filed since? Tell us.

On file with the IRSChicago, IL

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To provide finanacial assistance to Ace Tech charter high school

Form 990 Part I, line 1, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 72-1602149) · Dispute this line
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
The latest return is for FY2022, 4 tax years back.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average deficit $108K a year · 709% of revenue · last 3 filings
A surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
99%
of spending
99% of spending went to programs.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $12K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
4
of 4 voting members
4 of 4 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$9K
-55% vs prior year
Spent
$365K
To programs
99%
Net assets
$0
By yearFY2020–FY2022
Revenue
$9K
FY2022▼ -55%
Tap a bar for its year
Revenue by fiscal year
FY2020$16K
FY2021$20K
FY2022$9K
Expenses
$365K
FY2022▲ ×133
Tap a bar for its year
Expenses by fiscal year
FY2020$2K
FY2021$3K
FY2022$365K
Net assets
$0
FY2022▼ -100%
Tap a bar for its year
Net assets by fiscal year
FY2020$338K
FY2021$355K
FY2022$0

From the FY2022 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing we have: FY2022.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $363K Management & general 0% · $1K

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

Something off? Claim to add context

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Ace Tech Endowment Fund executive salaries →

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

Offers financial aid to Ace Tech Charter High School students.

Questions for Ace Tech Endowment Fund

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1 program · $363K · in their own filed words · FY2022
01

Provide financial assistance to cover the cost of faculty compensation. Provide skill based assessment and reporting, professional development for ACT/SAT test preparation. Provide chromebooks for students

Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 72-1602149) · Dispute this line
$363Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2020
Total grants receivedfrom 1 funder$12K
Grants paid · 1 grant · $2K · 2022–2022
Ace Amandla Charter High SchoolFY2022$1,871

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$9K
Ln 12
Investment incomeLn 3$9K
Money outPt IX
$365K
Ln 25
Programscol B$363K
Managementcol C$1K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$9K
Gains on assetsLn 7−$20
Total revenueLn 12$9K
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3More from this return
EndowmentSch D · Pt V
LineFY22FY21FY20FY19FY18
End of yearLn 1g$293K$355K$338K$297K$637K
SpentLn 1d–1f$72K$3K$2K$456K$212K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$290$0
InvestmentsLn 11–13$355K$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$355K$0
LiabilitiesLn 26$0$0
Net assetsLn 32$355K$0
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$363K$363K
Accounting feesLn 11c$1K$1K
Other expenses (24a–d)Ln 24$60$60
Total functional expensesLn 25$365K$363K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest ViewingFiled with the IRS Feb 28, 2023 $9K$365K−$355K$0 990 PDF
FY2021Filed with the IRS Jun 27, 2022 $20K$3K$17K$355K 990 PDF
FY2020Filed with the IRS May 14, 2021 $16K$2K$15K$338K 990 PDF

Schedules filed Part IV

D · Assets and endowments I · Grants O · Explanations
See the full FY2022 990
Part I · Summary $9,136 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $20,229$9,136
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $20,229$9,136
I-13 Grants and similar amounts paidPrior year $0$363,308
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 $2,738$1,310
I-18 Total expensesPrior year $2,738$364,618
I-19 Revenue less expensesPrior year $17,491−$355,482
Part VI · Governance 4 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-13 Written whistleblower policyNo
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-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $9,136 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $9,156$9,156
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$20−$20
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $9,136$9,136
Part IX · Statement of functional expenses $364,618 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $363,308$363,308
IX-11c Accounting feesManagement $1,250$1,250
IX-24 Other expenses (24a–d)Management $60$60
IX-25 Total functional expensesPrograms $363,308 · Management $1,310 · Fundraising $0$364,618
Part X · Balance sheet $0 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $290$0
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-5 Loans to officers and key people$0
X-6 Loans to other insiders$0
X-7 Notes and loans receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securitiesStart of year $355,192$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $355,482$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $355,482$0
X-32 Total net assets or fund balancesStart of year $355,482$0
X-33 Total liabilities and net assetsStart of year $355,482$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$9,136
XI-2 Total expenses$364,618
XI-3 Revenue less expenses−$355,482
XI-4 Net assets at start of year$355,482
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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